AI-powered app development platform Builder.ai, has raised $250 million in Series D funding round.
The $250 million investment round was led by Qatar Investment Authority (QIA). Iconiq Capital, Jungle Ventures, and Insight Partners also participated in the investment round.
Builder.ai, founded by Sachin Dev Duggal and Saurabh Dhoot in 2016, an artificial intelligence-supported application development platform that assists companies and small businesses in creating and running software without requiring technical expertise. The company also has offices in the United States, United Arab Emirates, Singapore, United Kingdom and France.
Builder.ai’s Founder and CEO Sachin Dev Duggal, who made a statement about investment, said “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.”
Ahmed Ali Al-Hammadi, the CIO of QIA Europe, added, “We are confident that Builder.ai’s innovative technology and proven approach positions the company for a future of substantial growth. This investment is aligned with QIA’s strategy of supporting innovative companies shaping the future of the global economy.”
Builder.ai plans to use the new investment for enhance its platform.