May 20, 2025:
Builder.ai Nears Insolvency Amid Financial Struggles - Builder.ai, an AI software company once valued over $1 billion and backed by Microsoft, is entering insolvency proceedings after raising over $450 million but failing to overcome financial challenges. These difficulties were exacerbated by past management decisions and recent leadership changes, alongside alleged inflated sales figures that have marred its reputation.
Initially marketed as largely automated, Builder.ai's platform was reportedly dependent on human engineers. The company is now appointing an administrator to manage its affairs, focusing on supporting employees, customers, and partners during this transition.
