OutSystems Secures $150M Capital Raise for Continued R&D and GTM
OutSystems, a Low-code development platform, has announced a $150 million capital raise in a funding round co-led by Abdiel Capital and Tiger Global.
The Lisbon-based company was founded in 2001 and has spent the last 20 years developing technology and solutions that address the challenges of building scalable and adaptable software. The OutSystems platform helps organisations develop, deploy, and manage critical apps at speed.
The new cash infusion will be directed towards continued research and development as well as expanding and fine-tuning its Go To Market (GTM) strategy.
The company is set on fundamentally changing the way software is built. Most organisations are limited from building enterprise class applications unless they have a full team of capable developers. Maintaining the application is further limited by the rapidly changing business environment which is often too quick for software and systems to match. OutSystems combines fast, visual, model-driven development with AI and cloud-based tools to minimise the work required to build a full-scale enterprise application, bringing development capabilities to organisations everywhere.
Who We Are:
Research and development is the engine of economic growth in an increasingly knowledge-based global economy, however more investment is needed to help boost human creativity, innovation and economic output.
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