New Delhi: Builder.ai, the leading AI-powered software development platform that empowers businesses to build, run and scale software development without requiring technical expertise or coding, today announced that it experienced tremendous business growth in 2020, with a 230% increase in monthly revenue since the start of the pandemic. In particular, the company had record-breaking sales for its Studio product, which grew 21% month-over-month since April 2020.
While COVID-19 took its toll on businesses and resulted in countless closures worldwide, it also drove over a third of businesses to increase the use of digital technology to adapt and stay competitive. Meanwhile, Forrester predicts that 75 percent of application development will use low-code platforms by the end of 2021. It’s also projected that the global low-code development platform market will generate $187 billion in revenue by 2030. This growth will be driven by increasing demand for business digitization, less dependency on information technology professionals, and stringent government norms. Combined, these factors played a key role in Builder.ai’s business growth over the last year.
“Given the uncertainty brought on by the pandemic, I want Builder.ai to be a platform that serves as a sign of hope for small businesses looking to keep their customers engaged, and for entrepreneurs ambitiously driven to launch new business ideas – they are the new developers,” said Sachin Dev Duggal, CEO, and Co-Founder of Builder.ai. “Businesses in certain industries, such as retail, fashion, travel, and hospitality, have been hit especially hard and we want to be their partner as they adopt a digital-first mindset to stay competitive. With our order-to-create style platform and its ability to drastically reduce the cost and effort typically required to build software, we want to give businesses, small and large, a fighting chance at survival and long-term growth. Our customers’ growth is our growth. With that in mind, we will continue to push our platform to drive digital adoption for small businesses.”
Andres Elizondo, Chief Financial Officer of Builder.ai, commented: “What I love about the Builder.ai value proposition is that it’s not trying to do the same thing everyone else is doing – it’s laser-focused on breaking the standard model and disrupting the adoption of digital technologies. I look forward to bringing my financial acumen to the table to help the company carve out its space in the industry and increase its revenue significantly.”
Over the next 12-24 months, the company will invest heavily into further developing more AI capabilities, building and launching new products, empowering businesses to be successful and nurturing talent. To learn how Builder.ai is helping enterprises and small businesses build and scale software development, request a demo.