Builder.ai raises $250m in Series D funding

25 May 2023 CW Team

Builder.ai, an artificial intelligence (AI)-powered composable software firm, has raised $250m in a Series D funding round. The round was led by Qatar Investment Authority (QIA) and included participation from existing investors Iconiq Capital, Jungle Ventures and Insight Partners.

The funding will be used to fuel the company's growth and innovation, including the development of new AI-powered tools and features. Builder.ai will also use the funds to expand its team and open new offices around the world.

"We are excited to partner with QIA and our other investors to accelerate our growth and mission to empower everyone to build software," said Sachin Dev Duggal, CEO and founder of Builder.ai. "This funding will allow us to continue to invest in our AI-powered platform and make it even easier for businesses to build the software they need to succeed."

Builder.ai's AI-powered platform allows businesses to build software without the need for coding expertise. The platform uses AI to automate tasks such as design, development and testing, which can significantly reduce the time and cost of software development.

The company has seen strong growth in recent years, with revenue growing by 2.3x in the last year. Builder.ai has also expanded its customer base to include businesses of all sizes, from startups to Fortune 500 companies.

"We are confident that Builder.ai is well-positioned for continued growth," said Ahmed Ali Al-Hammadi, CIO for Europe, Türkiye and Russia at QIA. "The company's AI-powered platform has the potential to revolutionize the way software is built, and we are excited to support its growth."

Builder.ai was founded in 2016 and is headquartered in London. The company has offices in the US, UAE, Singapore and France.

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