Builder.ai Emerges from 2020 with 230% Growth in Monthly Revenue
High Demand for Digital Transformation & Custom Software Amidst COVID-19 Brings New Customers and Spurs Appointments of COO and CFO
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 an 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.”