London-based AI-powered low-code/no-code app development platform Builder.ai raised USD 100 million in its Series C funding. The round took place on March 30, 2022. New York-based global venture capital firm Insight Partners led the funding for Builder.ai.
Existing investors such as Singapore-based Jungle Ventures participated in the funding. Besides, new investors include names such as the IFC & Jeffrey Katzenberg’s WndrCo.
Builder.ai further welcomes prominent business leaders, such as WndrCo. and Nikesh Arora (CEO at Palo Alto Networks), as investors and mentors to help make the company into a generational business.
Purpose of Funding for Builder.ai
With the latest funding, the startup will focus on helping organizations and entrepreneurs unlock their creativity and potential with digital transformation
Besides, Builder.ai will invest capital in A.I. and automation capabilities. It will rapidly develop its proprietary low-code/no-code platform and scale product development on core systems, including its conversational A.I., named “Natasha”, for improved self-service.
Moreover, the company seeks to expand its global footprint. The recent funding will aid in accelerating growth in the U.S. and the U.K.
What the officials of Builder.ai have to say
Sachin Dev Duggal, Chief Wizard & Co-Founder of Builder.ai, said, “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; 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 a round 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.”
What the investors have to say
“Builder.ai gives businesses large and small the superpower of building custom apps quickly and easily. WndrCo is excited to invest again and partner with Sachin and the team on accelerating growth in the U.S. and beyond,” says ChenLi Wang, Partner at WndrCo.
“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% growth in the last year,” said Jeff Horing, Co-Founder and Managing Director, Insight Partners.
He further added, “I’ve been speaking with Sachin 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.”
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