We review the most important financing rounds that have taken place in recent years in the Low-Code software sector. In addition, we analyse OutSystems and its R&D&I project "RADicalize", for which it will invest €10.4M in 2018.
We review the most important financing rounds that have taken place in recent years in the Low-Code software sector. In addition, we analyse OutSystems and its R&D&I project "RADicalize", for which it will invest €10.4M in 2018.
OutSystems is a leading Portuguese company in the 'Low-Code' market, a sector dedicated to the creation of software generation platforms with simple programming code for the development of user-level apps, to help organisations create their own enterprise-level tools and transform their businesses faster. OutSystems' platform combines the power of low-code development with advanced mobile capabilities, enabling the visual development of a full range of applications that integrate easily with organisations' existing systems.
Founded in 2001 by Paulo Rosado, the Portuguese company has offices in seven countries: United States, Portugal, United Kingdom, United Arab Emirates, Singapore, Australia, Netherlands and Japan. Its solutions are already present in 52 countries around the world, serving 22 different sectors, with a community of more than 140,000 members and the support of more than 180 partners globally.
OutSystems is backed by the financial support of its two main investors: Guidepost Growth Equity and Armilar Venture Partners. Guidepost Growth Equity is a venture capital is which invests in growth-stage technology startups in large and dynamic markets, including business services, software, healthcare IT, communications and infrastructure. Armilar Venture Partners manages over €200M in assets in innovative companies around the world.
Portuguese technology company OutSystems has announced that it will invest €10.4M in an R&D&I project to be completed in 2018, with an estimated 148 jobs to be created over a 3-year period, 24 of which will be highly skilled. This project, called "RADicalize", aims to realise the disruptive idea that enterprise software should be developed and modified, simply and quickly, by those who really know the business, not by programming experts.
Forecasts from the company led by Paulo Rosado suggest that the investment will catapult OutSystems' annual sales outside Portugal to €107M in 2019. Last year its total turnover reached €93M and it employed 347 employees in Portugal.
According to OutSystems, "the project aims to contribute to the creation of important technical and scientific advances, in particular for rapid development platforms for mobile business applications, generating value and knowledge for Portugal in general and for the Lisbon and Norte regions in particular, in an area of high technological intensity and with a high potential for evolution".
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