Betting on AI, VCs back startups as the tech world booms

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Historically, businesses seeking new information systems have had two choices — they could purchase one from an external vendor or build a new system using in-house developers. Today, however, there is a third alternative — low-code/no-code applications.

While organizations have been slowly digitizing their processes throughout the last few decades, the pandemic accelerated the pace of transformation. The sudden demand for digital collaborative spaces and remote work tools meant that business leaders needed a way to build and deploy these projects overnight. 

Skills gap gives way to need for no-code/low-code

Low-code/no-code platforms equip nontechnical users with the power to design business workflow applications, adapt quickly to changing requirements and be more responsive to their customers. Not to mention, this technology also gives IT teams the capability to reduce their technical debt by streamlining specific functions.

The shortage of software engineers in the U.S. is expected to exceed 1.2 million by 2026, creating the need for widespread adoption of no-code/low-code platforms. Gartner predicts that 70% of new applications developed by organizations will use low-code or no-code technologies by 2025. 

As demand for low-code/no-code platforms surges among enterprises, even those that were once dependent on conventional development practices in the past. 

It’s important to note that, in general, low-code/no-code options aren’t intended to become a replacement for developers. On the contrary, these tools can significantly enhance speed-to-market and boost business efficiency when used in tandem with traditional programming methods. 

Human-assisted, AI-powered

Builder.ai is a human-assisted, AI-powered platform designed for entrepreneurs and enterprises to build, run and scale applications without code. The company boasts a high revenue year-over-year increase and claims its top   clients include Pepsi, BBC, Fujitsu, Virgin Unite and NBC Universal.

With a purported turnaround time of 48 hours, Builder.ai claims its platform is  six times faster and 70% cheaper than using standard development services. The platform doesn’t require extensive training or technical expertise, allowing designers, supply chain managers and others, the ability to create sophisticated, tailor-made applications on-demand.

“Seventy-eight percent of software projects started by small and medium-sized businesses fail. At Builder.AI, we make app building as easy as ordering a pizza,” said Sachin Dev Duggal, CEO and founder of Builder.ai. “We believe that every entrepreneur, every business no matter the size, should be empowered to unlock their true potential in tech, no matter their experience. 

Competitors to Builder.ai include Appy Pie, Salesforce Mobile, Airtable and Adobe XD.

New York venture capital firm, Insight Partners, recently led investments into multiple start-ups capitalizing on these transformative shifts in the digital workforce, from low-code/no-code to AI, most recently with Builder.ai.

Insight Partners $100 million investment in Builder.ai’s series C funding round will help drive the company’s overall landscape and operations, further promoting the platform’s customer-first initiative.

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