Builder.ai, the AI-powered composable software platform, has announced a significant milestone with the successful completion of its Series D funding round, raising over $250 million. The round was led by Qatar Investment Authority (QIA), propelling Builder.ai’s total funding to over $450 million and increasing its valuation by up to 1.8 times.
The latest investment opens up new possibilities for Builder.ai, as the funds will be utilized for research and development of its composable app/software platform and Natasha, their “AI Product Manager.” Designed to simplify software development for both individuals and enterprises, Builder.ai’s tools empower customers to bring their ideas to life with minimal coding experience.
Natasha, the AI-powered product manager, was introduced in beta version in September 2021 by Sachin Dev Duggal, the visionary behind Builder.ai. The company’s mission revolves around democratizing software development through Builder Studio 3.0, the world’s first AI-powered product manager. Duggal emphasized, “Builder.ai’s mission has always been to be the connection between every great idea and a fully realized product, while giving our customers utmost control over their future.”
Natasha revolutionizes the software development process by streamlining it into a seamless and reliable procedure. By leveraging the power of AI, every product created maintains consistent quality and impeccable methodologies. During the beta phase, Natasha will appear in Builder Studio in two forms: as a chat experience for customers and as an agent that listens to customer conversations, automatically tagging features and asking relevant questions to customer-facing teams. This ensures that each conversation is enriched by the insights from previous interactions.
“We’ve launched the new Builder Studio 3.0 with the beta of Natasha to push the envelope of what we all thought was possible. Imagine a world where you can pick up the phone, speak to Natasha, and three days later have your app in the AppStore; this is the future we are building towards,” shared Sachin Duggal, the serial entrepreneur.
Builder.ai aims to redefine the user interface for software development, emphasizing human interaction as the primary means for individuals to create software. This shift moves away from the traditional expert-driven approach commonly seen in the no-code/low-code environment. The recent funding will further strengthen Builder.ai’s position as an industry leader and support investments in talent, partnerships, and technology.
According to Sachin Duggal, Chief Wizard and Founder of Builder.ai, “We are entering an incredible period in history where the very concept of software is changing; from something that had a shelf life of years to what will eventually have a shelf life of a conversation.”
With a 2.3x growth in revenue and over 40,000 features delivered to customers in the past year, Builder.ai’s momentum is fueled by ongoing investor support, strategic alliances, customer demand, and industry recognition. Existing and new investors, including Iconiq Capital, Jungle Ventures, and Insight Partners, participated in the Series D round.
“We are further emboldened to realize our own capabilities thanks to the backing of our investors and the commitment and tenacity of our staff. With everyone pushing the limit to achieve more, our DNA has always been predicated on being able to do more with less, and this has woven into our shared vision with our customers throughout the world,” said Sachin Dev Duggal, expressing gratitude to all investors. He added, “Our team has already started using this money to expand our AI and automation capabilities, not just keeping up with the rapidly changing business but also setting the pace so we can responsibly employ cutting-edge technology while also empowering our consumers.”
