Software building Engineer.ai raises $29.5M Series A to expand its business

by anne jane in funding on 9th November 2018

Engineer.ai brings two fundamental engineering principles, operating and building projects together using a standard methodology.  Saurabh Dhoot and Sachin Duggal jointly founded it. The mission of Engineer.ai is to turn ideas into finished products for each user. Whether the user wants to operate on the cloud or build a new technology Engineer.ai enables an individual user to gain more by working less. It is a turn-key AI platform to build a product called builderCare and operating on custom made software with CloudOps. At the inception of the company, they have started with $60M and now growing with 100% annually. They always believed in their team who develops the banded products. It is a global enterprise with its headquarters in London and Los Angeles and branches in Tokyo and Delhi. The company was started in 2012 but the Builder platform was launched in 2018. It has 150 employees currently.

Investment in Series A

Engineer.ai which develops a human-assisted AI builds a custom-made software which is as easy as sending a man to the land of the moon. They aim to build the software as simple and straightforward as ordering a favorite item. They on November 6 raised Europe’s investment series A at $29.5M. Jungle Ventures and Lakestar support this investment. Even SoftBank’s DeepCore participated in this funding.

Series A funding is the first round that the start-ups receive from the VCs and the ownership is provided to the other investors.Engineer.ai is aiming to cross $100 million revenue by the end of 2020. Sachin Duggal is expecting that this investment round proves that their approach of making custom-made software easy and smooth. The investment comes at the period of accelerated growth and will drive into a mainstream platform, permitting developers to pave the way for entire departments of businesses which couldn’t consider it prior.

Working Model

This company which calls its platform as “Builder” is an AI-Powered Software manufacturing line which breaks large projects into small building sections of re-usable functionalities and customizes them by elastic human capability throughout the world. Engineer.ai declares that they can help companies and various customers to spend use Cloud and build their ideas. This AI records the specific code and finds the right set of people from thousands of designers or developers or product managers from the idea generated. This, optimizing the work. They even optimize the purchase and buy the capacity from their partners whether it is an AWS or small development shop.

Customers

Begun in June 2018, This enterprise has attracted more than hundreds of customers across many geographical locations. The customers vary from Dreamers who have an idea but doesn’t know the technicalities. They always wanted to be a founder.

The second category comprises small to medium scale businesses, who want to provide value to their already existing client base and planning to expand. The third category customers are Brand and middle managers who build technology for a campaign and build something for optimizing the process. The fourth category is Enterprise and founders where there is Augmentation Projects or MVPs to cater to the prime core technology.

Conclusion

Recently, Software has become a center for every business activities and the companies are waiting for a solution to eliminate the hassles occurred technically. By creating an AI-powered Cloud platform  Engineer.ai s bridging the gap between the idea and a software program to empower it. Finally, Engineer.ai has a builder which serves as a new Software as a service (Saas) which is affordable and delivers value to the companies. With this investment, it is also considering to expand its business globally and provide its customers a better platform. A customer can build a software with “Builder-Platform” and update with protected BuilderCare and can buy the functionalities like microservices, marketing, and hosting.

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