OutSystems raised $150 million in a funding round co-led by Abdiel Capital and Tiger Global and which brings the company’s value to $9.5 billion.
Also supported by Goldman Sachs, KKR, Guidepost Growth Equity, and Armilar Venture Partners, the funding will be used to expand OutSystems’ investments in its research and development as well as its go-to-market strategy.
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 organisations 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 organisation to compete, innovate and grow with the developers they already have,” said Rosado. “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 OutSystems platform enables organisations of all sizes to build the software that makes the difference — whether it’s for transforming customer experiences, delivering workplace innovation, automating processes, or modernising core systems.
OutSystems makes this possible by combining extraordinarily fast, visual, model-driven development with a modern platform built around AI, cloud, DevOps, and security. OutSystems customers are rapidly building and delivering modern applications that scale and continuously change with the business.
Karel Nouwen, senior IT director at Medtronic, said they needed a secure platform that would allow us to build the capabilities they needed quickly and easily. “That’s precisely what OutSystems offers,” said Nouwen.
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.