OutSystems Raises $360 Million Investment from KKR and Goldman Sachs to Solidify Its Leadership Position in the Fast-Growing Low-Code Application Development Market
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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.
Companies such as
OutSystems is widely regarded as the leader in its market due to the breadth and depth of the platform. The company serves thousands of customers globally and is recognized as one of the fastest-growing technology companies with revenues well above
"We're attacking one of the biggest problems facing businesses today -- the lack of speed and agility of traditional software development that is hindering digital transformation initiatives around the world," said
"We believe we are in the early innings of what will be an extended period of significant growth in the low-code application development market, and we are very excited to be backing a category leader like OutSystems," said
"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
"The market potential we see with OutSystems is incredible," said
"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
"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
Thousands of customers worldwide trust OutSystems, the number one low-code platform for rapid application development. Engineers with an obsessive attention to detail crafted every aspect of the OutSystems platform to help organizations build enterprise-grade apps and transform their business faster. OutSystems is the only solution that combines the power of low-code development with advanced mobile capabilities, enabling visual development of entire applications that easily integrate with existing systems. Explore careers at OutSystems, named a Top Cloud Employer by Forbes three years in a row. Visit us at www.outsystems.com, or follow us on Twitter @OutSystems or LinkedIn.
KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, growth equity, energy, infrastructure, real estate and credit, with strategic manager partnerships that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR's investments may include the activities of its sponsored funds. For additional information about
About Goldman Sachs Private Capital Investing
Goldman Sachs Private Capital Investing ("PCI") is Goldman Sachs' investment platform dedicated to providing long term capital to growth and middle-market companies throughout the US,
About Guidepost Growth Equity
Guidepost Growth Equity is a leading growth equity firm that partners with technology companies offering innovative solutions in large, dynamic markets including tech-enabled services, communications and infrastructure, and data and information services. Prior investments include Dyn (sold to Oracle),
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