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.
About OutSystems
OutSystems It 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 user-level app development, helping organisations to create their own enterprise-grade tools and transform their businesses more rapidly. The OutSystems platform combines the power of low-code development with advanced mobile capabilities, enabling the visual development of a full range of applications that easily integrate 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 firm that invests in growth-stage tech startups in large and dynamic markets, including business services, software, healthcare IT, communications, and infrastructure. Armilar Venture Partners manages over €200M in assets from innovative companies around the world.
OutSystems will invest €10.4m in 2018 to take software «out» of the computer
The Portuguese technology company OutSystems has announced that it will invest €10.4M in an R&D&I project to be completed in 2018, estimating the creation of 148 jobs over a 3-year period, 24 of which will be highly skilled. This project, named «RADicalize», aims to make a reality of the disruptive idea that company software should be developed and modified, simply and quickly, by those who really know the business, rather than 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.
As announced by OutSystems, «the project aims to contribute to the creation of significant technical and scientific advances, particularly for enterprise mobile rapid application development platforms, generating value and knowledge for Portugal in general and for the regions of Lisbon and the North in particular, in an area of high technological intensity and with high potential for development.».