Low-code provider OutSystems raises $150 million investment
OutSystems, provider of a modern platform for low-code application development, has announced a $150 million capital raise. The round, co-led by Abdiel Capital and Tiger Global, values OutSystems at $9.5 billion.
OutSystems combines fast, visual, model-driven development with a modern platform built around AI, cloud, DevOps, and security. The funding will be used to expand investments in its R&D and GTM strategy.
According to the company, using the OutSystems platform, businesses of all sizes can develop, deploy and manage critical apps at speed—enabling them to respond to market opportunities and continuously deliver value through software-driven innovation.
“Developers are a scarce resource in business today, and the complexities of traditional software development exacerbate the challenges most organizations face when tackling their digital transformation agenda,” said Paulo Rosado, CEO and founder of OutSystems. “By fundamentally changing the way software is built, OutSystems makes it possible for every organization to compete, innovate and grow with the developers they already have. We’re focused on helping customers succeed with their most challenging digital transformation initiatives, and today’s announcement is an acknowledgment of our progress on that journey."
The company says that this investment follows a year that saw OutSystems momentum and scaling continue, with customers in 87 countries, more than 1,300 employees worldwide, and partnerships with 350 partners, including AWS, Deloitte, and Infosys.
For additional perspective on the announcement from Paulo Rosado, visit OutSystems at www.outsystems.com/blog/posts/the-outsystems-mission.