Based in Boston Massachusetts, OutSystems combines fast, visual, model-driven development with a platform built around AI, cloud, DevOps, and security. Using its low-code platform, businesses of all sizes can develop, deploy, and manage critical apps at speed, enabling them to respond to market opportunities and continuously deliver value through software-driven innovation.
OutSystems works on low-code app development, in contrast to those that focus on no-code tools, which don’t involve any code. Conversely, low-code offerings bring together some coding with visual programming interfaces. In an interview with TechCrunch, OutSystems CEO Paulo Rosado explained that the key differences between no-code and low-code were that low-code has the ability to tackle heavy-duty internal corporate workflows and is more adaptable. According to OutSystems, low-code is simply better suited to creating material corporate apps.
“Developers are a scarce resource in business today, and the complexities of traditional software development exacerbate the challenges most organizations face when tackling their digital transformation agenda,” said Rosado. “By fundamentally changing the way software is built, OutSystems makes it possible for every organization to compete, innovate and grow with the developers they already have.”
In general, the adoption of both low-code tools and no-code tools for developing applications has rapidly increased over the past year. For OutSystems, the proof is in the pudding, as its customers are rapidly building and delivering modern applications that scale and continuously to change with the business, on its low-code platform.
While no-code companies would argue with that train of thought, OutSystems’ recent funding round tells a different story. The company has announced that it raised a $150 million Series E round that brings its valuation to $9.5 billion. The round was led by Abdiel Capital and Tiger Global. And this isn’t even the largest funding event that the Portugal and U.S.-based software company has raised. In 2018, OutSystems raised a $360 million round.
The company says that this investment follows a year that saw it continue to scale with momentum, as it now boasts customers in 87 countries, more than 1,300 employees worldwide, and 350 partners, including AWS, Deloitte, and Infosys.