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London-based Builder.ai has raised $250 million in a Series D round led by Qatar Investment Authority (QIA). The raise arrives hot on the heels of an undisclosed amount invested by Microsoft just two weeks prior, with the company stating that it’d now raised north of $450 million in total and that this investment round is accompanied by “an up to 1.8x increase in its valuation.”
In addition to QIA’s lead, the Series D round also saw the participation of existing and new backers including Iconiq Capital, Jungle Ventures & Insight Partners.
The quarter billion dollar investment round will see Builder take a decidedly more “human” approach, focusing its efforts on placing human conversations as the main source of interface, a sort of if-you-can-dream-it-you-can-build-it approach to software development. According to the company the end goal is to enable anyone and everyone to be able to develop the software they want and need for their business, “and making it as easy as ordering pizza.”
Builder.ai’s Chief Wizard (yes, they have a Chief Wizard) and Founder Sachin Dev Duggal commented, “We are entering an incredible time in history where the very notion of software is changing; from something that had a shelf life of years to what will eventually have a shelf life of a conversation and the volume of what is being created is only going to grow exponentially.”
Established in 2013 and up and running since 2016, according to Builder, their AI-powered software development platform can help just about anyone go from dream to mobile or web app faster and 70% faster. The “then who or what” remains undecided, but according to Builder, their offer can do it faster. And cheaper.
In conjunction with the undisclosed amount investment from Microsoft, the two companies have also entered a partnership that will see Builder included in Microsoft’s reseller programme, and builds upon existing deals struck with JP Morgan & Chase and Etisalat UAE as well as other financial and tech companies.
On the investment, Jungle Ventures; Managing Partner, Amit Anand commented, “Our journey with Builder.ai was fuelled by a deep-seated belief in their pioneering solution, allowing us to recognise the immense potential of this sector and anticipate the trajectory of this industry during its nascent stages. As early investors, we have witnessed their exceptional growth, even amidst harsh economic climates, which demonstrates the team’s resilience and commitment to innovation”
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