AI software platform Builder.ai raises $250 mn led by QIA
Builder.ai, a platform for AI-powered software, declared that it has secured over $250 million in Series D funding, backed by the Qatar Investment Authority (QIA). With the most recent financing, the company has now raised more than $450 million in total, increasing its valuation by up to 1.8 times.
The firm said that the most recent round of funding will fuel its continued industry leadership and innovation pipeline, allowing further investments in talent, partnerships, and technology. The firm recently announced a strategic collaboration with Microsoft that includes an undisclosed equity investment in the startup.
Sachin Dev Duggal, Chief Wizard and Founder of Builder.ai, "We are entering an incredible period in history where the very notion of software is changing; from something that had a shelf life of years to what will eventually have a shelf life of a conversation."
The company has almost quadrupled its headcount since January 2022 and expanded its UK HQ footprint with four new offices created since 2021, including the US, the UAE, Singapore, and France. With client demand at an all-time high and AI progressing every day, the company has almost doubled its headcount.
Additional current and new investors, such as Iconiq Capital, Jungle Ventures, and Insight Partners, participated in the Series D round. "We are confident that Builder.ai's innovative technology and proven approach positions the company for a future of substantial growth," said Ahmed Ali Al-Hammadi, CIO for Europe, Turkey, and Russia at QIA.
Since Insight invested a year ago, Sakin and the Builder.ai team have achieved outstanding accomplishments. The company has our full support, and we are happy to be increasing that support, said Jeff Horing, co-founder and managing director of Insight Partners. With its AI-powered composable software platform, Builder.ai, which was founded in 2016 and is still at the forefront of the market, enables anyone with an idea to build an app (web or mobile) faster and 70% more economically.
The firm said that the most recent round of funding will fuel its continued industry leadership and innovation pipeline, allowing further investments in talent, partnerships, and technology. The firm recently announced a strategic collaboration with Microsoft that includes an undisclosed equity investment in the startup.
Sachin Dev Duggal, Chief Wizard and Founder of Builder.ai, "We are entering an incredible period in history where the very notion of software is changing; from something that had a shelf life of years to what will eventually have a shelf life of a conversation."
The company has almost quadrupled its headcount since January 2022 and expanded its UK HQ footprint with four new offices created since 2021, including the US, the UAE, Singapore, and France. With client demand at an all-time high and AI progressing every day, the company has almost doubled its headcount.
Additional current and new investors, such as Iconiq Capital, Jungle Ventures, and Insight Partners, participated in the Series D round. "We are confident that Builder.ai's innovative technology and proven approach positions the company for a future of substantial growth," said Ahmed Ali Al-Hammadi, CIO for Europe, Turkey, and Russia at QIA.
Since Insight invested a year ago, Sakin and the Builder.ai team have achieved outstanding accomplishments. The company has our full support, and we are happy to be increasing that support, said Jeff Horing, co-founder and managing director of Insight Partners. With its AI-powered composable software platform, Builder.ai, which was founded in 2016 and is still at the forefront of the market, enables anyone with an idea to build an app (web or mobile) faster and 70% more economically.
