31 March 2022 | news desk

AI-led startup Builder.ai raised $100M in Series C round

Builder.ai, the AI startup that has built a low-code/no-code application development platform, has raised $100 million in a Series C funding round. This funding round was led by Insight Partners.

In this round, existing investor Jungle Ventures and other institutional investors also took participation. With the help of this round, the total funding raised by Builder.ai is now evaluated at $195 million as analyzed.

Builder.ai was founded in 2016 by Sachin Dev Duggal. The company has its dual headquarters in London and Los Angeles. It also has its own large development team in the capital of the country.

The platform builds software and applications that are 6 times faster and is around 70 percent cheaper as compared to other avenues. It claims that its revenues have increased by over 300 percent, and it deployed more than 40,000 features in the last year.

Builder.ai will utilize the new funding towards-

enhancing its AI and
automation capabilities,
develop its proprietary low-code/no-code platform, and
scale product development.

EXECUTIVE OPINION:

Insight Partners Managing Director Jeff Horing said, “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 percent growth in the last year.”

He further noted, “By truly democratizing access to complex software, Builder.ai is set to disrupt the core of how applications are built.”

Jungle Ventures Founding Partner Amit Anand said, “Organisations today, more than ever, are in need to be changing, innovating and deploying new ideas fast. This requires a stable but agile software development platform that can leverage innovative technologies such as AI and low-code/no-code to enable rapid digital transformation and create real-time impact for stakeholders.”

Sachin Dev Duggal said, “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.”

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AI-led startup Builder.ai raised $100M in Series C round

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