Builder.ai raises $100 mn in Series C round to scale up AI capabilities

Funding led by Insight Partners, a New York-based global venture capital and PE firm, brings company's total funding to $195 million across three rounds in all

Builder.ai, a leading AI-powered low-code/no-code app development platform said it has raised $100 million in a Series C funding round led by Insight Partners, a New York-based global venture capital and private equity firm. The round, which brings the company’s total funding to $195 million across three rounds in all, includes participation from existing investors such as Singapore based Jungle Ventures in combination with new individual and institutional names that include the IFC & Jeffrey Katezenberg’s WndrCo.

Established in 2016, Builder.ai platform that builds software and apps up to 6x faster and up to 70 per cent cheaper than traditional human teams, without users needing to speak tech. Builder.ai has increased its revenue by over 300 per cent and deployed more than 40,000 features to happy customers within the last year. The recent raise will support Builder.ai’s continued focus on helping organisations and entrepreneurs unlock their creativity and potential with digital transformation.

“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,” said Sachin Dev Duggal, chief wizard and co-founder of Builder.ai. “We wanted someone who had deep insight and immense courage to let us think and do differently. This led us to the only natural choice – Jeff Horing and Insight Partners. This is so much more than just capital – it’s 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.”

Builder.ai will also invest the capital in AI and automation capabilities, rapidly develop its proprietary low-code/no-code platform, scale product development on core systems, including its conversational AI, named “Natasha”, for improved self-service, and expand global operations. For its next chapter, Builder.ai will stay focused on pushing the boundaries – both technically and in go-to-market. This includes knowledge graph-powered code synthesis or expanding to cities across the continental United States, Asia Pacific, MENA and the United Kingdom.

“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 per cent growth in the last year,” said Jeff Horing, co-founder and managing director at Insight Partners. “I’ve been speaking with Sachin (Duggal) 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.”

Builder.ai said it further welcomes key business leaders, such as WndrCo. and Nikesh Arora, as investors and mentors to help make Builder.ai into a generational business. Builder.ai’s investor base provides access to network, capital and acute wisdom as it expands and continues to disrupt the disruptors of low code/no-code.

“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 (Duggal) and team on accelerating growth in the US and beyond.” ChenLi Wang, Partner, WndrC.

Another investor, Amit Anand, founding partner, Jungle Ventures, said organizations 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.

“As one of the earliest investors in Builder.ai, we have been thrilled and honoured to have played a part in helping them build a first of its kind, enterprise-grade platform that has already helped hundreds of individuals and organizations across the globe to Build fast and Build to Last,” said  Anand.

Guggenheim Securities, LLC. acted as exclusive financial advisor and Goodwin Procter LLP acted as legal advisor to Builder.ai. Wilkie Farr Gallagher LLP acted as legal advisor to Insight Partners.