Builder.ai, a London-based AI-powered composable software platform for app development, announced that it has raised US$250 million in Series D funding round led by Qatar Investment Authority (QIA), the Qatar’s sovereign wealth fund.
This brings Builder.ai’s total funds raised to over US$450 million with an up to 1.8x increase in its valuation.
The Series D round included participation from additional existing and new investors including Iconiq Capital, Jungle Ventures & Insight Partners.
The funds will be used for further investments in talent, partnerships, and technology to improve its AI and automation capabilities.
Builder.ai has almost doubled its headcount since January 2022 and extended its UK HQ footprint with four new offices opened since 2021 – including the US, the UAE, Singapore, and France.
The firm also reported a 2.3x revenue growth and over 40,000 features deployed to customers within the last year.
“Builder.ai was founded on the promise that everyone should be empowered to unlock their human potential. Today this means being able to build software to be able to do more with less.
We are entering an incredible time in history where 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”
said Sachin Dev Duggal, Founder of Builder.ai.
Featured image credit: Sachin Dev Duggal, Chief Wizard and Founder of Builder.ai. Background Edited from freepik