Insight leads Series C for UK, India-based Builder.ai

The company has now raised USD 195m to date, including a USD 29.5m Series A from Jungle Ventures and Lakestar in 2019 and a Series B of undisclosed size in 2021. Other participants in the Series C include the International Finance Corporation (IFC) and Jeffrey Katzenberg's WndrCo.

Established in 2016 by serial entrepreneur Sachin Dev Duggal, Builder.ai claims its artificial intelligence-enabled platform can build software and apps up to 6x faster and up to 70% cheaper than traditional human teams. Its solutions are designed for those without technology backgrounds, relying on Lego-like reusable features and automation to reduce human effort.

In the past 12 months, the company claims to have increased revenue by more than 300% and deployed over 40,000 app features. Meanwhile, headcount has risen from 265 to 450. Efforts have also been made to cultivate marketplaces partners, allowing customers to add other features – such as logistics and payments – to their apps.

The new capital will go towards investment in AI and automation capabilities, platform development, and business expansion in terms of product offerings and geographic coverage.

"Builder.ai has spearheaded a new category in the low-code/no-code industry with an innovative business model and clarity of vision, fuelling its 300% growth in the last year," said Jeff Horing, a co-founder and managing director at Insight, in a statement. “By truly democratizing access to complex software, Builder.ai is set to disrupt the core of how applications are built."

Builder.ai is headquartered in London and maintains hubs in Delhi New Capital Region, Singapore, Los Angeles, Salt Lake City, and Dubai.

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• Topics
• South Asia
• Technology
• Europe
• Expansion
• India
• IT services
• Insight Partners
• Jungle Ventures