AI-powered app development platform Builder.ai on Wednesday announced an investment of $100 million in a Series C funding round led by Insight Partners, a New York-based global venture capital and private equity firm.
The round, which brings the company’s total funding to $195 million across three total rounds, includes participation from existing investors such as Singapore-based Jungle Ventures, in combination with new individual and institutional names that include the IFC and Jeffrey Katezenberg’s WndrCo.
We believe that everyone, every business should be empowered to unlock their human potential, whether it is creating new ideas or digitally transforming their business, and because of this, our choice of investor for this round was very deliberate; we wanted someone who had deep insight and immense courage to let us think and do differently, – Sachin Dev Duggal, Co-Founder of Builder.ai, said in a statement.
Builder.ai is a leading AI-powered low-code/no-code app development platform that builds software and apps up to 6x faster and up to 70 percent cheaper than traditional human teams, without users needing to speak tech.
Builder.ai has increased its revenue by over 300 percent and deployed more than 40,000 features to happy customers within the last year.
The company said that the recent raise will support Builder.ai’s continued focus on helping organizations and entrepreneurs unlock their creativity and potential with digital transformation.