Builder.ai, the startup behind a leading AI-powered low-code/no-code app development platform, announced the completion of a Series C round of funding led by Insight Partners and joined by new investors International Finance Corporation & WndrCo. Launched in 2016 as Engineer.ai, Builder.ai’s platform helps users create software and apps up to six times faster and up to 70% cheaper than traditional human teams, without users needing to speak tech. The London-based company has thrived since the start of the pandemic, using pre-packaged e-commerce apps to help small businesses affected by COVID-19.
The company raised $100 million in its latest round, bringing its total raised to $195 million across three rounds, supported by Jeffrey Katzenberg’s WndrCo and Nikesh Arora (CEO of Palo Alto Networks). The new infusion of capital is to be used to enhance the platform’s AI and automation capabilities, including by introducing a new conversational AI, named “Natasha,” as a self-service bot. The company claims to have increased revenue by 300% in 2021 alone, driven in part by the red-hot low-code software development market.