The Remarkable Journey of a Self-Made Billionaire and the Mastermind behind Builder.ai, Sachin Dev Duggal
19-June-2023
Sachin Dev Duggal, 40, the founder of unicorn startup Builder.ai, an AI-driven software platform, has done it once again. Recently, Builder.ai has raised over $250 million in Series D funding led by Qatar Investment Authority (QIA).
The firm has now received more than $450 million in total since its initial campaign in 2018. With its most recent financing, the company's valuation has increased to nearly 1.8 times that of its $100 million Series C fundraising in March 2022.
Builder.ai allows users to create software by combining components in a manner analogous to stacking reusable Lego bricks.
This low-code, no-code platform allows anybody to develop and maintain apps, from tech-averse craftsmen looking to sell their works online to layout professionals with little to no background in programming or coding.
According to Sachin, “Our team is already investing this capital in our AI and automation capabilities so we can empower our customers more and use new frontier technology responsibly at the same time.”
Since January 2022, the company has virtually doubled its workforce and increased the size of its UK headquarters by opening four new offices, including ones in the US, the UAE, Singapore, and France.
The firm has virtually quadrupled its workforce in response to the organisation's record-high customer demand and daily advancements in AI.
A deal with Microsoft that involves a covert stock investment in the business was just made public by Builder.ai.
The most recent amount of funding, according to Duggal, will support the company's continued leadership in the industry and its creative pipeline, enabling greater investments in people, relationships, and technology.
Sachin has always been a businessman at heart. Even before starting Builder.ai, he was the brain behind two other companies.
His first startup, Nivio, was among the world's pioneering cloud computing companies. After reportedly selling Nivio for a whopping $100 million, Sachin put some of this money into Builder.ai.
Sachin launched Builder.ai in 2016 and the company began with a small team of just five people, but it grew dramatically, expanding 180% within six years of its start. The company now has main offices in the UK, US, and India.
Sachin, a serial businessman, got his bachelor's degree in Information Systems from the renowned Imperial College London.
To earn his master's degree, he went to the Massachusetts Institute of Technology & Entrepreneurship Organization, graduating in 2011. Sachin also spent five years as an Advisor & Consultant at Deutsche Bank AG.
From a young age, Sachin was always interested in technology and entrepreneurship. As he stepped out of college, his interest led him to start a cloud computing company. However, his journey was not always smooth. He had a bitter experience while developing a photo sharing app.
Despite being an engineering graduate from Imperial, he found it quite challenging to create software. This led him to think about small businesses like the local bakery and how they would cope with such technological challenges.
This thought sparked a revolutionary idea in Sachin's mind, the idea that later shaped up into Builder.ai.
He realised that while everyone could communicate their needs, software often failed to 'listen'. This was the problem he set out to solve, when he launched Builder.ai.
The company has caught the eye of big-time investors like SoftBank, who have put their money into the company. The company's value has crossed over $1 billion, which makes it a 'unicorn startup'
Iconiq Capital, Jungle Ventures, and Insight Partners were among the additional existing and prospective investors who took participation in the recent Series D deal.
“We are confident that Builder.ai's innovative technology and proven approach positions the company for a future of substantial growth,” says Ahmed Ali Al-Hammadi, CIO for Europe, Turkey, and Russia at QIA.
“Since Insight invested a year ago, Sachin Duggal and the Builder.ai team have achieved outstanding accomplishments,” Jeff Horing, co-founder and managing director of Insight Partners, declared. “The firm has our full support, and we are happy to be increasing that support”.
Due to Sachin's leadership and vision, Builder.ai has grown quite quickly. His ability to foresee market opportunities and apply technology to complex problems has helped the company overthrow the traditional software development industry and usher in a new age of affordable and efficient software development.
Because of its current funding achievement and groundbreaking discoveries, Builder.ai, led by Sachin, will likely transform the software development environment.
By facilitating the availability of software development, the firm helps companies of all sizes integrate the shift to digital and boost their expansion. The subsequent era of innovation from Builder.ai is eagerly anticipated as it promises to revolutionise software development.
Sachin is a person who loves exploring the world. He takes multiple breaks to refresh himself and spend quality time with his family.
Once, he had an amazing travel experience - he had his morning meal in Singapore, lunch the very next day in Tel Aviv, and dinner on the day after that in Tokyo.
But no matter where he is, family is always his priority. He made sure he was back home in Los Angeles to enjoy a relaxed Sunday brunch with his son, Aramnäya. - TWL Bureau
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