Listen to this articleOutSystems redefines rapid application development for the digital era – enabling business-driven, innovative, customer-facing application development needs while empowering IT to support the end-to-end digital effort without slowing down development. This month, OutSystems raised $55 million in its first round of US institutional capital. The new investment comes from North Bridge Growth Equity, a leading growth equity firm that invests in high-growth technology companies. Recently OutSystems released a new version of OutSystems Platform, which brings new levels of speed, visibility, control, and performance to its growing base of global enterprise customers. Below is our interview with Paulo Rosado, CEO at OutSystems:
Q: How does OutSystems Platform work?
A: Developers can model all aspects of their applications visually and in layers, without any low-level coding, using responsive web design so apps work on all devices and browsers. If needed, developers can reuse existing Java or C# code and weave existing libraries and SDKs to unify with OutSystems code. OutSystems Platform generates a .NET or Java web application, automates activities like version control, impact analysis and code migration, and then automatically deploys the app – in the cloud, on-premises, or a hybrid of both – with a single click. OutSystems Platform also enables end-users to provide feedback to developers within the app. They can draw annotations, write text messages and record voice memos. All of this goes directly to the development team. There are no email strings. Everything is integrated. The team automatically knows what device and version the user had an issue with. The changes can be made, and the app redeployed in minutes. This makes it easy to quickly iterate versions. Customers can also manage their apps, viewing and analyzing their performance across various browsers and devices. They can see if users are experiencing issues due to location or other variables. All of this makes it simple to enable rapid and broad adoption of an application within the enterprise.
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Q: Could you explain the function and advantages of your platform?
A: Speed, savings and security. Our customers can build an enterprise app in six weeks as opposed to six months. OutSystems Platform, with its drag-and-drop interface, can even be used by employees with little or no traditional coding experience to build the apps they need to do their jobs. This shift to self-service development opens up new advantages, enabling businesses to move faster while freeing up IT to work on initiatives that are more strategic to the company. Integration is a non-issue. Apps built on OutSystems open platform integrate with all legacy systems. The Platform also enables developers, experienced or not, to build once for all devices. A centralized console lets customers manage the lifecycle of all of their apps. If an issue comes up, customers can automatically rollback to any prior version as well as deploy and merge hotfixes in production. OutSystems Platform provides built-in security features for applications, IT and end-users. Security governance defines who can deploy what and where. Every app created with OutSystems Platform is secured over its entire lifecycle.
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Q: You’ve recently announced a $55 million funding round, why this influx of cash at this time?
A: As the market leader in the low-code application platform space, we’ve constantly improved the technology over the last 16 years. But now, the market for low-code platforms is exploding. Our financial situation has been strong, but we decided to capitalize on the growing market opportunity for low-code/RAD solutions to further extend our leadership, globally. This new investment gives us the working capital to address growth by fueling sales, marketing and product innovation efforts worldwide as well as in the US and the developer community at large.
Q: What’s the ideal company that would benefit from your services?
A: We have customers at over 600 enterprise organizations in 33 countries and in twenty-two industries, from banking to manufacturing to transportation and logistics to education to construction and engineering. All of our customers have one thing in common. They need to rapidly develop custom, mission-critical web and mobile applications that integrate existing systems and data or, in some cases, even replace legacy applications. This reduces IT’s involvement, enabling them to focus on serving the organization. So as far as an ideal company, it’s really those that see the value of digital transformation and want to take advantage of how rapid application development and deployment can help.
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Q: What are your plans for next six months?
A: We’ll use this new investment to continue improving our technology as well as to communicate how OutSystems uniquely helps companies transition to become digital enterprises by transforming how they build and deliver applications. We grew extensively last year and we expect to add to our customer base. We have a great relationship with our customers, and they are evangelical about their experience with the Platform.
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