Builder.ai, an AI-powered low-code/no-code app development platform, announced raising $100 million in its Series C funding round led by global venture capital and private equity firm Insight Partners.
The round, which brings the company’s total funding to $195 million across three total rounds, includes participation from existing investors such as Singapore based Jungle Ventures in combination with new individual and institutional names that include the IFC and Jeffrey Katezenberg’s WndrCo.
Established in 2016, Builder.ai builds software and apps up to 6x faster and up to 70% cheaper than traditional human teams, without users needing to speak tech. Builder.ai has increased its revenue by over 300% and deployed more than 40,000 features to happy customers within the last year.
The recent raise will support Builder.ai’s continued focus on helping organisations and entrepreneurs unlock their creativity and potential with digital transformation. Builder.ai will invest the capital in AI and automation capabilities, rapidly develop its proprietary low-code/no-code platform, scale product development on core systems, including itsconversational AI, named “Natasha™”, for improved self-service, and expand global operations.
For its next chapter, Builder.ai will stay focused on pushing the boundaries – both technically and in go-to-market; whether its knowledge graph-powered code synthesis or expanding to cities across the continental United States, Asia Pacific, MENA and the United Kingdom.
Led by serial entrepreneur Sachin Dev Duggal, Builder.ai is reshaping how software is built and operated with a suite of products and services, including BUILDER STUDIO, BUILDER CLOUD, BUILDER CARE, BUILDER NOW, BUILDER HIVE, STUDIO STORE and STUDIO RAPID. In 2021, Builder.ai was awarded ‘Hottest AI Startup’ at the Europas for Europe’s successful tech start-ups and made the ‘Inc 5,000 list of Fastest Growing Companies in America’ and awarded Visionary’ in the 2021 Gartner® Magic Quadrant™ for Multi-experience Development Platforms.
Of the new round, Sachin Dev Duggal, Chief Wizard & Co-Founder of Builder.ai, said, “We believe that everyone, every business should be empowered to unlock their human potential, whether it’s creating new ideas or digitally transforming their business, and because of this, our choice of investor for this round was very deliberate; we wanted someone who had deep insight and immense courage to let us think and do differently. This led us to the only natural choice – Jeff Horing and Insight Partners. This is so much more than just capital – it’s a round for our customers, all the tinkerers, the people that never accepted “no” for an answer, the small businesses that said “we shall prevail” and the entrepreneurs who never blinked for a second.”