Friday, April 12, 2024
Startups

Modular app-building platform Builder.ai raises $250 million Series D funding

It was only recently that we reported Buildier.ai had signed a strategic collaboration with and undisclosed investment from Microsoft. Builder’s “Natasha” AI will be shortly available to users of Teams. But it appears the startup is on a something of a roll.

It’s now announced a $250 million Series D funding led by the Qatar Investment Authority (QIA). The Series D round included participation from additional existing and new investors including Iconiq Capital, Jungle Ventures & Insight Partners.

That means Builder.ai has now raised over $450 million in total and it claims 2.3x revenue growth.

The company says it’s now going to focus on employing human conversation to allow people to build apps on its platform rather than the “expert-laden white-canvas systems” that are typical of the no-code/low-code space.

The company now has offices in the UK, USA, the UAE, Singapore, and France. 

Founder and CEO Sachin Dev Duggal said in a statement: “We are entering an incredible time 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 and the volume of what is being created is only going to grow exponentially.”

“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” added Ahmed Ali Al-Hammadi, CIO for QIA Europe.

Established in 2016, Builder.ai offers both small and larger business the ability to build a web or native mobile app in a modular fashion. It has partnerships with JP Morgan & Chase, Etisalat UAE and other technology and financial enterprises.  It was in the 2023 Fast Company list of Most Innovative Companies and winner of the 2022 Europas “Scale Up of the Year”.

Modular app-building platform Builder.ai raises $250 million Series D funding by Mike Butcher originally published on TechCrunch

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