Market Overview

OutSystems Breaks Growth Records, Showing Further Proof of Market Leadership

Share:

63 Percent Increase in Annual Recurring Revenue, 1000+ Enterprise
Customers, 140,000 Community Members, Leader in 3 Analyst Reports

OutSystems,
provider of the number one platform for low-code rapid application
development, had another record-breaking quarter across every key
business metric. With a 63 percent increase in annual recurring revenue
for the second quarter and a recent valuation at well over $1 billion,
the company is firmly establishing itself as the leader in the exploding
low-code development market. It is also on track to beat all numbers
from its record-breaking year in 2017.

In the second quarter, OutSystems secured a $360
million investment round
to facilitate further expansion of the
business. The investment, led by KKR and Goldman Sachs, further
establishes the OutSystems low-code platform as the definitive
development method for today's digital transformation projects. The
latest round brings the venture investment in OutSystems to $422 million.

"Companies looking to accelerate their digital transformation are
turning to the OutSystems low-code platform in record numbers," said
Paulo Rosado, CEO and founder of OutSystems. "OutSystems is giving them
the speed, agility, and flexibility to do things they could never do
before. Backed by our recent influx of new capital, we are positioned
for continued success, both in the short term and over time, as we
capitalize on a major growth opportunity in the low-code application
development market."

Industry Recognition as a Market Leader
OutSystems generated
a significant amount of industry recognition in the quarter, being named
a market leader in three analyst reports and landing a pair of industry
awards.

On the analyst side, OutSystems was named a Leader for the second
consecutive year in Gartner's
Magic Quadrant for Mobile App Development Platforms
and Gartner's
Magic Quadrant for Enterprise High-Productivity Application Platform as
a Service (hpaPaaS) 2018
. OutSystems also earned a Market Leader
designation in Ovum's
2018-2019 Ovum Decision Matrix (ODM)
for enterprise mobile
application development platforms (MADP).

The company won its third consecutive CODiE Award for Best
Mobile Development Solution of 2018
. SIIA CODiE Awards are
peer-reviewed, identifying the most innovative business technology
products around the world. OutSystems was also named one of the 50
Highest Rated Private Cloud Computing Companies to Work For
by
Battery Ventures and Glassdoor.

Additional Record-breaking Momentum
In addition to its
record-breaking revenue growth and market leadership in the second
quarter, OutSystems achieved significant success in other areas:

  • Customers: OutSystems added 96 new enterprise customers,
    bringing its total enterprise customer base to a record 1000+
    companies. This was the highest number of new customers added in a
    quarter since the company was founded.
  • Partners: Revenue from partner-led, new customer deals grew 75
    percent year over year.
  • Developers: 15,000 new developers began using the OutSystems
    platform during the quarter, and the total number of community members
    topped 140,000.
  • Employees: To meet the growing demand for its platform
    and to increase R&D in new advancements in software automation,
    OutSystems added over 100 employees globally, bringing its total
    workforce above 800.
  • Product innovation: OutSystems introduced OutSystems
    Sentry
    , which provides proactive security monitoring, built-in
    redundancy, and 24x7 support for OutSystems cloud-based
    platform-as-a-service customers. The company also launched an early
    access program for a groundbreaking app analytics solution, OutSystems
    Insights
    , that enables IT teams to gauge app performance and user
    satisfaction.
  • Thought leadership: In June, OutSystems released The
    State of Application Development, 2018
    report, which distinguished
    the company as a top IT thought leader. Featuring detailed analysis of
    survey results from over 3,500 IT professionals from around the world,
    it demonstrated that low-code is becoming mainstream and is
    accelerated app dev speed.

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.

View Comments and Join the Discussion!