The funding will accelerate growth and foster innovation in software development.
London-based artificial intelligence (AI)-powered composable software platform Builder.ai has raised a significant investment of over US$250 million in Series D funding. Led by Qatar Investment Authority (QIA), the funding round brings the total amount raised by the company to over US$450 million, resulting in a valuation increase of up to 1.8x.
Builder.ai, led by Sachin Dev Duggal, streamlines software development with a user-friendly platform. Combining automation and skilled professionals, the company delivers high-quality, customized software solutions. Its global network of 85,000 designers and developers, guided by AI, ensures the best talent for each project. Additionally, Builder.ai assigns a dedicated expert to oversee the entire software development process, ensuring seamless communication and successful project delivery.
Propel innovation and expands global footprint
The latest investment will further fuel Builder.ai’s industry leadership and innovation pipeline, enabling the company to invest strategically in talent, partnerships and technology. A key focus will be on revolutionizing the no-code/low-code space by prioritizing human conversation as the primary user interface for building software. The no-code/low-code space refers to a rapidly growing technology sector that enables individuals, even those without extensive coding expertise, to build software applications.
As customer demand continues to soar and AI technology advances, Builder.ai has nearly doubled its workforce since January 2022 and expanded its UK headquarters by adding four new offices in the U.S., the UAE, Singapore and France. With continued support from investors, strategic partnerships and a reputation for innovation, the company has experienced remarkable momentum, achieving 2.3x revenue growth and deploying over 40,000 features to customers within the past year.
Investors behind the funding
The Series D funding round saw participation from existing and new investors, including Iconiq Capital, Jungle Ventures and Insight Partners.
“QIA is very excited to be partnering with the leader in this space. We are confident that Builder.ai’s innovative technology and proven approach positions 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 QIA.
In May 2023, U.S. tech giant Microsoft also made an undisclosed investment in Builder.ai, signaling its commitment to enhancing AI capabilities and competing with industry rival Google. The collaboration aims to develop AI-powered solutions that enable businesses to embrace digital transformation without technical expertise. The partnership strengthens both Microsoft’s position in AI and Builder.ai’s role as a leading software development player, poised to drive significant advancements in the industry.
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Press Release link: https://www.builder.ai/newsroom/press/builder-ai-announces-series-d-led-by-qia
