Builder.ai, the AI-powered composable software platform founded by serial entrepreneur Sachin Dev Duggal, has announced a significant milestone with the completion of its Series D funding round, securing over $250 million. The funding round was led by Qatar Investment Authority (QIA), propelling the total funds raised by Builder.ai to more than $450 million and increasing its valuation by up to 1.8 times.
The latest financial commitment opens up a world of possibilities for Builder.ai. Sachin Duggal stated that the funding will be utilized for research and development purposes, focusing on advancing the composable app/software platform and Natasha, their AI Product Manager. Natasha serves as a virtual assistant, undertaking tasks typically performed by a human product manager, such as mapping features based on customer ideas. With the help of Builder.ai’s tools, customers can create software with minimal coding experience.
In September 2021, Builder.ai introduced the beta version of Natasha, the world’s first AI-powered product manager, through Builder Studio 3.0. The company’s mission has always been to bridge the gap between great ideas and fully realized products while empowering customers to maintain control over their future. Builder.ai aims to democratize software development and streamline the process through Natasha, ensuring consistent quality and efficient methods across all products.
Natasha will be integrated into Builder Studio as a chat experience for customers, actively listening to conversations, tagging features, and engaging customer-facing teams. This approach ensures that insights from all conversations are leveraged to enhance the overall user experience.
Sachin Duggal expressed his vision for the future, stating, “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 have your app in the App Store just three days later; this is the future we are building towards.”
Builder.ai is pioneering a shift towards utilizing human interaction as the primary user interface for software development, moving away from complex and expert-heavy mechanisms commonly found in the no-code/low-code environment. The recent funding will further solidify the company’s position as an industry leader and support ongoing investments in talent, partnerships, and technology.
Sachin Duggal, Chief Wizard and Founder of Builder.ai, highlighted the transformative nature of software in today’s era, remarking, “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.”
Builder.ai’s dynamic growth is fueled by consistent investor support, strategic alliances, customer satisfaction, and industry recognition, resulting in a revenue growth rate of 2.3x and the delivery of over 40,000 features to customers in the past year. In addition to Qatar Investment Authority, existing and new investors such as Iconiq Capital, Jungle Ventures, and Insight Partners participated in the Series D funding round.
Sachin Dev Duggal expressed gratitude towards the investors, acknowledging their role in the company’s success. He emphasised Builder.ai’s commitment to utilising the funding to enhance their AI and automation capabilities, staying at the forefront of the rapidly evolving business landscape while empowering their global customer base. The company’s ability to achieve more with less has been a driving force since its inception and continues to shape its shared vision with customers worldwide.