Builder.ai, a London-based AI-powered app development platform, announced that it has secured $100M (approx €90M) in a Series C funding round led by Insight Partners. To date, Builder.ai has raised a total of $195M (approx €175M) in funding.
The funding will enable the company to enhance AI and automation capabilities, develop its proprietary low-code/no-code platform, scale product development on core systems, and accelerate expansion in the US and UK.
Sachin Dev Duggal, Chief Wizard & Co-Founder of Builder.ai, says, “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.”
He continues, “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.”
The company also welcomes key business leaders WndrCo. and Nikesh Arora as investors and mentors to help make Builder.ai into a generational business.
“Builder.ai gives businesses large and small the superpower of building custom apps quickly and easily. WndrCo is excited to invest again and to partner with Sachin and team on accelerating growth in the US and beyond,” says ChenLi Wang, Partner at WndrCo.
Builder.ai: What you need to know
Founded by Sachin Dev Duggal and Saurabh Dhoot in 2016, Builder.ai is an AI-powered low-code/no-code app development platform that builds software and apps up to 6x faster and up to 70 per cent cheaper than traditional human teams.
The AI-powered assembly line fuses Lego-like reusable features, using Building Blocks automation to reduce human effort and produces apps at almost zero failure rate, making it cheaper and faster than traditional software development.
The company offers a range of products like Builder Studio, Builder Cloud, Builder Care, Builder Now, Builder Hive, Studio store, and Studio Rapid. Within the last year, Builder.ai has increased its revenue by over 300 per cent and deployed more than 40,000 features for customers.
Builder.ai is headquartered in London and supported by employees and hubs in Delhi, Singapore, Los Angeles, Salt Lake City, and Dubai.
Insight Partners is a global software investor partnering with high-growth technology, software, and internet startup and scaleup companies. The VC has invested in more than 600 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight Partners has offices in London, Tel Aviv, and Palo Alto.
“Builder.ai has spearheaded a new category in the low-code/no-code industry with an innovative business model and clarity of vision, fueling its 300% growth in the last year,” says Jeff Horing, Co-Founder and Managing Director at Insight Partners.
“I’ve been speaking with Sachin from the early days of Builder.ai and have witnessed how he and the team have built something very special. By truly democratizing access to complex software, Builder.ai is set to disrupt the core of how applications are built,” he adds.
“Builder.ai is one of those rare companies that has entered a brand new category; with technology that has a disruptive impact to the world around us; especially as companies continue the move to being digital first. In Builders’ team and Sachin we see what great tech founders are about: a vision to build incredible technology achievements, steadfast humility & best of all 10x revenue growth since we invested!” says Klaus Hommels, Founder and Chairman, Lakestar.