Once worth over $1B, Microsoft-backed Builder.ai is running out of money

AI software company Builder.ai, enters bankruptcy work, a company has confirmed Techcrunch.

Microsoft-supported Unicorn, which raised more than $ 450 million, has risen to the application for the AI-based platform, which aims to make it easier to apply and websites.

According to Spokejeron, the Builter.ai, also known as Engineer.Ai Corporation, appoints the administrator “Managing the company”.

“Despite the tireless efforts of our existing team, it was unable to investigate every possible choice, to investigate business historical problems and financial statements,” he said. “Our immediate priority is to support our workers, customers and partners with this difficult time. We will work closely with the managers appointed to explore all existing options for the business parts.”

Builder.ai has faced major leadership skisups and financial issues over the past few months. This was in March declare The last summer company reduced the estimated income by 25% in the second half of 2024. In February, the company set a new CEO, manpreet ratio.

Builder.ai, stating that something behind the scenes has hired auditors to study financial documents. According to BloombergFormer workers claimed that the company was exaggerated in many cases more than 20% sales figures.

Previous Engineer.ai mostly rebranded Builder.aiAttracted a small scandal. Engineer.ai Basically, an automated application claimed to establish a development platform, but the platform in the truth was very confident in human engineers. Wall Street Journal.