In a landmark move for AI development, London-based AI software platform Builder.ai has announced a colossal £200m ($250m) raise in a Series D funding round. The capital will be used to invest in talent, partnerships, and technology, reinforcing Builder.ai’s mission of building software faster and cheaper.
The Investors: Who’s Betting on Builder.ai?
The round, led by Qatar Investment Authority (QIA), brings Builder.ai’s total amount raised to over £362m ($450m), marking an up to 1.8x increase in its valuation. This significant round of investment, with contributions from existing and new investors, including Iconiq Capital, Jungle Ventures, and Insight Partners, showcases the promise and potential of Builder.ai in the tech world.
Builder.ai’s Unique Software Building Proposition
Founded in 2016, Builder.ai is transforming the AI industry by claiming to build software and apps up to six times faster and 70 per cent cheaper than traditional human teams, without users needing to ‘speak tech’. This disruptive approach empowers businesses to enhance their software capabilities with unrivaled efficiency and cost-effectiveness.
Sachin Dev Duggal, Chief Wizard and founder of Builder.ai, asserts that the company was founded on the principle of unlocking human potential. “Today this means being able to build software to be able to do more with less,” Duggal said, highlighting the shift in software’s life span and the exponential growth in creation volume. The newly acquired funds, according to Duggal, will not only keep pace with the fast-moving industry but also lead from the front to empower customers more and responsibly use new frontier technology.
How Builder.ai Plans to Use the Funding
The capital will be invested in enhancing the company’s AI and automation capabilities, thereby setting the stage for a future of substantial growth. This investment aligns with QIA’s strategy of supporting innovative companies shaping the global economy. Jeff Horing, co-founder and managing director at Insight Partners, mirrored the sentiment, applauding Sachin and the Builder.ai team for the results they have produced since Insight invested a year ago.
As we anticipate the significant advancements Builder.ai is set to make with this new round of funding, we invite you to join the conversation. How do you see this investment shaping the future of AI software development? Do you believe that Builder.ai’s approach of building software faster and cheaper could redefine traditional practices in the tech world? We look forward to hearing your thoughts and engaging in insightful discussions.
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