Builder.ai, a London-based AI-powered composable software firm, announced on Tuesday that it has raised more than $250 million in Series D funding sponsored by the Qatar Investment Authority (QIA). Existing investors Jungle Ventures, Iconiq Capital, and Insight Partners joined the round as well.
With this round, the company’s total funding has surpassed $450 million. The most recent round resulted in a 1.8X boost in valuation.
Builder.ai, founded in 2016, provides composable software to organisations and individuals to aid in the development of mobile and web-based apps. Its designers and developers employ artificial intelligence-powered tools to create features that may be customised.
The company, which recently announced a strategic partnership with Microsoft that includes an undisclosed equity investment in the startup, stated that the latest round of capital will fuel its continued industry leadership and innovation pipeline, allowing for additional investments in talent, partnerships, and technology.
With client demand at an all-time high and AI progressing on a daily basis, the company has nearly doubled its employment since January 2022 and expanded its UK HQ footprint with four additional locations in the United States, the United Arab Emirates, Singapore, and France. According to a release, the new money would be used to grow talent, partnerships, and technology.