Builder.ai, the AI startup that has built a low-code/no-code app development platform, Tuesday announced that it has raised $250 million in its Series D funding round led by Qatar Investment Authority (QIA).
The Series D round included participation from existing and new investors including Iconiq Capital, Jungle Ventures, and Insight Partners, Builder.ai said in a statement.
The fresh infusion takes the company’s total funding amount to over $450 million with an up to 1.8x increase in its valuation. The capital raised will be used to make further investments in talent, partnerships, and technology, the statement added.
The company 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.
“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, Chief Wizard and Founder of Builder.ai.
Builder.ai had last raised $100 million in its Series C round led by Insight Partners, with the participation of its existing investor Jungle Ventures. The round also saw the participation of new investors namely the International Finance Corporation (IFC), a member of the World Bank Group; and Jeffrey Katzenberg’s WndrCo.
Established in 2016, Builder.ai helps companies to go online with its AI-powered low-code app development platform that builds software and apps. The company also has operations in Delhi, Singapore, Los Angeles, Salt Lake City, and Dubai, besides its headquarters in London.