Modular app building platform Builder.ai raises $250M in Series D funding

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We recently reported builder.ai had signed a strategic collaboration with an undisclosed investment from Microsoft. The Builder AI “Natasha” will be available to Teams users soon. But it seems that the start is on something of a streak.

A $250 million Series D financing led by the Qatar Investment Authority (QIA) has now been announced. The Series D round included participation from additional new and existing investors, including Iconiq Capital, Jungle Ventures and Insight Partners.

That means Builder.ai has now raised over $450 million in total and claims 2.3x revenue growth.

The company says it will now focus on using human conversation to enable people to build apps on its platform rather than the “expert-laden white canvas systems” that are typical of the no-code/low-code space.

The company now has offices in the UK, US, United Arab Emirates, Singapore and France.

Founder and CEO Sachin Dev Duggal said in a statement: “We are entering an incredible moment in history where the very notion of software is changing; from something that had a lifespan of years to what will eventually have a lifespan of a conversation and the volume of what is being created will only grow exponentially.”

“We are confident that Builder.ai’s innovative technology and proven approach position the company for a future of substantial growth. This investment is aligned with QIA’s strategy to support innovative companies that shape the future of the global economy,” added Ahmed Ali Al-Hammadi, CIO of QIA Europe.

Established in 2016, Builder.ai offers small and large businesses the ability to build a web or native mobile app in a modular way. It has partnerships with JP Morgan & Chase, Etisalat UAE, and other technology and financial companies. It was on the 2023 Fast Company list of the most innovative companies and winner of the Europas 2022 “Scale Up of the Year”.