Outsystems

Outsystems, The Lisbon originated Atlanta based startup which focuses on low-code application development just recently raised a huge round of investment at a Unicorn($1 Billion+) valuation where it took in a total of $360 million from Private Equity giant KKR and investment giant Goldman Sachs to expand the company’s operations.

The company which was founded 17 years ago and currently does about $100 million yearly revenue will also make use of this huge cash infusion to increase Research & Development efforts to make big advancements in software automation which provides the best experience to its customers.

Outsystems provides a product which enable companies and enterprises build apps and automate certain tasks visually which makes it way more easier than the case of traditional coding, Outsystems customers include notable companies like GM Financial, Auto giant Toyota, Logitech, Schneider Electric and a slew of others.

Outsystems CEO Paulo Rosado made a statement concerning this investment round saying “We see companies struggle with this every day and we’re thrilled to be partnering with KKR and Goldman Sachs to solve this problem by bringing more innovation to our customers and re-defining the future of enterprise software development.”.

Outsystems which stands a leader in the $27 Billion low-code development market will now get to scale up its operations and networks whilst currently having customers from 50 different countries and also adding to the reputation of other countries in the startup world as this is a nice achievement for a company coming from Portugal, Portuguese VCs are also big winners in this deal as the company’s previous fundings at a much more lesser valuation came from some of the country’s best venture capitalists.

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