OutSystems Raises $360 Million in Funding
June 05, 2018

OutSystems raised $360 million in an investment round from KKR and Goldman Sachs.

The funding values the company at well over $1 billion, and the proceeds will be used to accelerate business expansion and for R&D in new advancements in software automation.

The OutSystems low-code platform enables customers to achieve significant efficiency gains in building and supporting enterprise-grade applications. By leveraging automation, artificial intelligence, and deep technology integrations, software developers and business users can build applications through an intuitive, visual interface, rather than traditional coding. Customers experience strong cost savings and create competitive advantages by developing custom applications in days and weeks versus months and years, despite a shortage of skilled developers.

Lucian Schoenefelder, Member at KKR, added: “OutSystems is a perfect fit with KKR’s strategy of supporting best-in-class technology entrepreneurs in their ambition to build global category leaders in large markets. We are very excited to partner with Paulo and his team and will make KKR’s global platform available to support the OutSystems expansion plans.”

“We found that we could point to every major industry sector and find excited and loyal OutSystems customers who have developed unique solutions and are adopting the platform across their organization,” said Kirk Lepke, Vice President at Goldman Sachs Private Capital Investing. Christian Resch, Managing Director at Goldman Sachs Private Capital Investing, added: “OutSystems is directly in line with what we seek for new investments: Support of exceptional founders and management teams in innovative businesses that offer a significant opportunity to create long-term value. We are very much looking forward to backing Paulo and the team to further expand this unique business.”

“The market potential we see with OutSystems is incredible,” said Mike Pehl, OutSystems board member and Managing Partner at Guidepost Growth Equity. “With customers in over 50 countries and nearly 250 partner integrators developing on the platform, it’s clear the low-code market has reached a tipping point, and OutSystems is the clear leader.”

“Founded in 2001, OutSystems has always had a strong vision for their platform and a strong company culture that promotes quality and transparency,” said Joaquim Sérvulo Rodrigues, OutSystems Board Member and Partner at Armilar Venture Partners. “Today, their technology is very advanced, creating a high barrier to entry for potential competitors. OutSystems has created a whole new market.”

“This funding comes on the heels of a record-breaking year for the company,” said Rosado. “OutSystems stands strong as the pioneer in low-code development. Having global investors the caliber of KKR and Goldman Sachs that share our vision for the future of revolutionizing software development sets us on a path of tremendous growth and innovation that will fundamentally change how organizations build software.”

KKR's investment was made through its Next Generation Technology Growth Fund.

The Latest

December 06, 2018

The general consensus tends to be that in the world of agile and DevOps, ITSM teams are increasingly being left behind. But the truth is, in more forward-thinking IT organizations, this isn’t the case. The fact is that ITSM is playing, or at least should play, a growing role in support of agile and DevOps initiatives. But this role still remains limited due to the fact that DevOps teams, and their management, are (more often than not) leaving them out as a tool of choice ...

December 05, 2018

The industry is revealing increasingly optimistic attitudes towards mainframes, with 93% of executives and 92% of all respondents viewing the mainframe as a strong long-term platform – the highest level in five years – according to the 2018 Mainframe Research Report from BMC ...

December 03, 2018

ActiveState surveyed developers and programmers in 92 countries to better understand their pain points and assess how businesses can better work with their organizations. The survey results establish a starting point for understanding the challenges that coders confront when working with open source runtimes ...

November 29, 2018

Organizations with established DevSecOps programs and practices greatly outperform their peers in how quickly they address flaws. The most active DevSecOps programs fix flaws more than 11.5 times faster than the typical organization, due to ongoing security checks during continuous delivery of software builds, largely the result of increased code scanning, according the latest State of Software Security (SOSS) report from CA Veracode ..

November 27, 2018

The push to make banking products digitally ready (and very quickly) has spurred the old “buy vs. build” debate in bank IT departments: Should we build our own software from scratch in-house? Or do we buy off-the-shelf solutions from third-parties? And while this dichotomy may have been a suitable mentality years ago at the start of the digital transformation revolution in banking, it simply no longer fits with the reality of today's more complex development landscape ...

November 26, 2018

With the rise of next-generation technologies, businesses have access to more data than ever, creating opportunities to develop new channels for revenue. Contributing to the increase in data is a growing reliance on the external supply chain. However, with the influx of data comes the necessity to understand the entire third-party ecosystem; its benefits and risks. Some of the most devastating breaches have been attributed to a third party ...

November 20, 2018

In today's digital economy, monitoring is a must. Your customers must be able to access your website and your apps, interact, purchase — and monitoring is one way to make sure this keeps happening. But the first question has to be: What should be monitored? With this in mind, APMdigest asked experts from across the IT industry for their opinions on what IT departments should be monitoring to ensure digital performance ...

November 19, 2018

Software developers and security teams have a well-known antagonistic relationship. Dev teams often feel plagued by the restrictive security standards placed on them by security teams that inhibit their ability to rapidly write applications, while security teams view developers as one of the biggest threats with which they have to grapple. There are three core challenges that must be addressed in order for security and DevOps to be in lockstep ...

November 15, 2018

Serverless infrastructure environments are set to become the dominant paradigm for enterprise technology deployments, according to a new report — Why the Fuss About Serverless? — released by Leading Edge Forum ...

November 14, 2018

What to automate? Which parts of the delivery process are good candidates? Which applications will benefit from automation? At first, those sound like silly questions. Automate all your repetitive processes. If you think that you'll do the same thing manually more than once, automate it. Why would you waste your creative potential and knowledge by doing things that are much better done by scripts? Yet, an average company does not adhere to that logic. Why is that? ...

Share this