Builder.ai, an AI startup supported by Microsoft and the Qatar Investment Authority, has engaged two Big Four auditing firms to review its financial records for 2023 and 2024.

This follows a 25% reduction in its revenue estimates for the second half of 2024 due to underperforming sales channels.

The company has raised over US$450 million and began revising its sales figures last summer.

Former employees have raised concerns that Builder.ai inflated its sales figures by over 20% in some cases.

Newly appointed CEO Manpreet Ratia expects audit findings this summer to address these issues. He acknowledged the need for operational improvements and noted that the company is working to enhance transparency and governance.

The company is also undergoing leadership changes, with founder Sachin Dev Duggal stepping down as CEO in February.

Builder.ai is projecting US$170 million in revenue for 2024, up from US$140 million in 2023, despite slower growth in Australia and Southeast Asia.