Builder.ai Lands $100M As Low-Code Space Is On Fire

Startups offering tools for people who want to develop apps with minimal coding-related toil have been racking up a lot of funding rounds in recent months. Indications are that’s likely to continue.

Today, the newest member of the low-code club to report a $100 million round was Builder.ai. The London-headquartered company, which provides a low-code app development platform, announced that it raised $100 million in a Series C funding round led by Insight Partners.

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Several existing and new investors joined the round, including IFC and Jeffrey Katzenberg‘s WndrCo. The financing brings total funding to date for the 6-year-old company to $195 million.

Builder.ai has been scaling up aggressively in recent quarters. The company says in roughly the past year revenue rose by over 300 percent and headcount increased from 265 to 450. Looking ahead, the startup says it plans to invest fresh capital in improving its AI and automation capabilities.

The company lists a number of well-known brands among its customers, including BBC, Pepsi and NBCUniversal. Its offering envisions developing apps using an assembly line of reusable “parts,” or features such as login, live chat or shopping cart. Customers describe their ideas, and Builder’s AI engine suggests parts they might need, along with specialists to customize features.

The fundraise comes amid a prolonged period of heavy venture investment in startups developing no-code and low-code tools for software development. A Crunchbase analysis of funding so far this year to Builder.ai and companies featuring “low-code” or “no-code” in their profiles found at least 40 rounds that collectively brought in over $560 million. We list them below:

In addition to Builder.ai, some of the larger funding recipients include:

Genesis Global, developer of a low-code technology platform that helps financial institutions build new applications, raised $200 million in a February Series C round.
Wandelbots, a developer of no-code tools for automating industrial robots, raised $84 million in a January Series C round.
Weglot, provider of no-code tools for making websites multilingual, raised $50 million in a funding round announced last week.

Illustration: Dom Guzman