Builder.ai, the London-based AI-powered software platform, has secured £200m ($250m) in a Series D funding round led by Qatar Investment Authority (QIA). With the additional participation of existing investors such as Iconiq Capital, Jungle Ventures and Insight Partners, the company has raised its total amount to over £362m ($450m), achieving up to a 1.8x increase in its valuation. This significant funding will enable further investment in talent, partnerships and technology, following Builder.ai’s promise to build software up to 6x faster and 70% cheaper than traditional human teams, without users needing to have technical knowledge.
Sachin Dev Duggal, Chief Wizard and Founder of Builder.ai, sees promising prospects in this investment, stating that “the very 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 created is only going to grow exponentially.” He emphasizes the importance of AI and automation capabilities, which will be the forefront of the company’s growth strategy. As Ahmed Ali Al-Hammadi, CIO for Europe, Turkey and Russia at QIA, expresses, this investment aligns with their strategy of supporting innovative companies that shape the future of the global economy.
With this funding, the Builder.ai team is dedicated to unlocking their own potential and empowering their customers more by using new frontier technology responsibly. Their approach has earned the confidence of investors, particularly Jeff Horing, Co-Founder and Managing Director at Insight Partners, who states that they “are thrilled to be doubling down on our support of the company.”