14.3 C
Wednesday, September 27, 2023
HomeTechModular app building platform Builder.ai raises $250M Series D funding

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


It was only recently that we reported Buildier.ai had signed a strategic partnership with and secret investment from Microsoft. Builder’s “Natasha” AI will be available to Teams users soon. But it seems that the startup is going something well.

It has now announced a $250 million Series D financing 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 claims 2.3x revenue growth.

The company says it will now focus on using human conversation to enable people to build apps on its platform rather than the “expert-laden white-canvas systems” typical of the no-code/ low-code space.

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

Founder and CEO Sachin Dev Duggal said in a statement: “We are entering an incredible time in history where the 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 made will only 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 in line with QIA’s strategy to support innovative companies shaping the future of the global economy,” said Ahmed Ali Al-Hammadi, CIO for QIA Europe.

Founded in 2016, Builder.ai offers both small and larger businesses the ability to modularly build a web or native mobile app. It has partnerships with JP Morgan & Chase, Etisalat UAE and other technology and financial companies. It was in Fast Company’s 2023 list of most innovative companies and winner of Europas 2022 “Scale Up of the Year”.

The author of what'snew2day.com is dedicated to keeping you up-to-date on the latest news and information.

Latest stories