Builder.ai raised $250 million in a Series D funding round to continue tremendous growth momentum for its AI platform. With this round, Builder.ai has secured a total of $450 million in funding. The latest round has led to a 1.8X increase in valuation, the company said on Tuesday, without revealing the valuation.
Builder.ai, founded in 2016 provides composable software to enterprises and individuals to help build mobile and web-based apps. Its team of designers and developers use artificial intelligence-powered tools to build customisable features. The company will deploy the fresh round of funds in widening talent, partnerships, and technology, it said in a statement.
Since, 2022 the company has doubled its human resources and has set up four new offices in the United States, UAE, Singapore, and France.
“Continued investor support—combined with strategic partnerships, customer tailwinds, and acclaimed industry innovation—helped drive the company’s momentum with 2.3X revenue growth and over 40,000 features deployed to customers within the last year,” the company noted. The brand partnered with Microsoft earlier in May as part of the latter’s reseller programme, as well as entered partnerships with JP Morgan & Chase, Etisalat UAE, and other technology and financial enterprises.
Builder.ai to expand innovation pipeline
“Our growth strategy has always been driven by a DNA based on being able to do more with less, and this has weaved into our shared vision with our customers around the world as everyone pushes the envelope to do more. It is what attracted our first-round investors in 2018, and what drives this Series D today,” said Sachin Dev Duggal, Co-founder of the London based Builder.ai.
“We are confident that Builder.ai’s innovative technology and proven approach position the company for a future of substantial growth. This investment is aligned with QIA’s strategy of supporting innovative companies shaping the future of the global economy,” said Ahmed Ali Al-Hammadi, CIO for Europe, Turkey and Russia at Qatar Investment Authority.
The Funding was led by Qatar’s sovereign wealth fund, Qatar Investment Authority. Existing investors Jungle Ventures, Iconiq Capital, and Insight Partners also participated in the round.