Market Overview

Exploding Low-Code Market Propels OutSystems to Record-Breaking 63 Percent Growth

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OutSystems,
provider of the number one platform for low-code rapid application
development, reported that accelerating customer adoption is driving
record growth across every aspect of the business. For 2017, OutSystems
reported 63 percent growth in annual recurring revenue. The company also
added 275 new enterprise customers and over 50,000 new developers.

"Our customers are winning and accelerating their digital transformation
initiatives with our low-code platform," said Paulo Rosado, CEO of
OutSystems. "This success is fueling tremendous demand from every major
market around the world."

OutSystems points to successful low-code adoption by customers such as
Logitech, who replaced more than 80 aging Lotus Notes apps with
OutSystems in 18 months. Also, Deloitte and Prudential recently
demonstrated the power of the OutSystems platform at an industry
conference, where they presented an application using AI and IoT for
automated risk analysis.

"We're thrilled to see customers using our solution for an incredibly
wide range of digital transformation projects," said Pedro Pimenta,
Chief Customer Officer at OutSystems. "From streamlining internal
operations to delivering new disruptive customer experiences, our
customers are innovating with low-code."

Respected industry analysts consistently highlight OutSystems customer
success as a key strength. Delighted customers also voted OutSystems as
the number one low-code development platform on peer review sites
including Peer Insights, G2Crowd, and TrustRadius. "OutSystems is one of
our top rated low-code development products for 2017 with very positive
reviews from end-users on TrustRadius," said Megan Headley, Research
Director at TrustRadius.

Highlights from 2017 include:

  • 63 percent growth in annual recurring revenue
  • Adding 275 new enterprise customers and 50,000 new developers
  • Delivering major digital transformation projects with key partners
    such as Deloitte, Cognizant, KPMG, Tech Mahindra, ATOS, NCS, CTC, and
    Persistent Systems
  • Leadership position in four major industry reports from Gartner and
    Forrester
  • 60 product updates to its award-winning platform, from low-code
    innovation like visual mobile debugging to security certifications
    including ISO and SOC

Ready for 2018

OutSystems is preparing for even greater growth in 2018 by adding to its
board and hiring more employees. Tom Schodorf, former SVP of sales and
field operations at Splunk, and John Kinzer, CFO of HubSpot, recently
joined as board members, and Bill Macaitis, former CRO/CMO of Slack,
joined as an advisor.

In 2017, OutSystems rapidly grew to over 600 employees globally, and was
named one of the Best Cloud Computing Companies and CEOs to Work for by
Forbes, based on Glassdoor scores. With 55 new hires starting in
January, OutSystems is entering 2018 with over 650 employees.

About OutSystems

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. Visit us at www.outsystems.com,
or follow us on Twitter @OutSystems
or LinkedIn at https://www.linkedin.com/company/outsystems.

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