“OutSystems Raises $360 Million Investment from KKR and Goldman Sachs to Solidify its Leadership Position in the Fast-Growing Low-Code Application Development Market”
New York, London and Lisbon – June 05, 2018 (Link to article)
When I started my research and evaluation of Low-Code platforms over a year ago, OutSystems was clearly the choice for me for very distinct reasons;
Industry Analysts like Forrester and Gartner, rate OutSystems as the leader not only with regards to rapid Web Application development, but also Mobile App development. These analysts use slightly different terminology to describe the fast-growing market, i.e. ‘High-Productivity’ or ‘Low-Code’ application development platforms, which allow developers to design and develop software fast and with minimal hand-coding. Looking at the analyst reviews for the last 4 – 5 years, it is clear that OutSystems has been improving their position as leader year-on-year. This demonstrates vision, ability to execute and a clear product roadmap being implemented, providing increased value to partners and customers on an ongoing basis.
Enterprise-Grade. Delivering solutions for Enterprise Customers requires a Low-Code platform which can scale for growth and performance, and also provide solid platform security features. OutSystems ticks all the boxes and is confirmed by the host of Global Enterprise customers who adopted OutSystems, some of which are in the Financials Services industry – see this example of a Mobile Banking Solution servicing 20 mil active users during a peak load time.
Flexible Deployment Model. Most other products are delivered as cloud-only, but OutSystems can be consumed as a Cloud offering (SaaS), installed on-premise or in a hybrid-cloud model. This offers great flexibility for customers to architect the right solution for their environment and use cases.
History, financial position and investment. OutSystems is the pioneer of Low-Code. They have been in business for 17 years, achieving more than $100 million in revenue. The recent investment of $360 million by reputable investors like KKR and Goldman Sachs, giving the company a market valuation over $1 billion, confirms their leadership position in the Low-Code market.
No Lock-in. The OutSystems platform generates applications, based on a standard architecture, code and relational databases. This means there is no proprietary code or frameworks which locks customers into the platform. OutSystems Apps can be extracted and run independently on infrastructure separate from the OutSystems Platform.
Culture. All Vendors are the same, but not all are equal. Yes, all software vendors are in business to sell software licenses, but not all vendors are easy to work with. In my experience, OutSystems is one of the easiest Vendors to work with and always eager to help customers be successful (even if they have to sell them some licenses!). It is not just I who say so – check out the G2 Crowd Low-Code Development Platforms Grid report, which ranks OutSystems highest for both customer satisfaction and market presence amongst 15 other Vendors. The OutSystems community is also very helpful with tons of people eager to help with questions, sharing of ideas and solutions.
One platform for both Web and Mobile. There are a variety of Low-Code platforms in the market, some strong in Web, others in Mobile or BPM, but few can rival the breadth and depth of the OutSystems platform which provides a single code base for both Web and Mobile Apps (iOS/Android), combined with robust DevOps tools.
This summarises the criteria I used to choose the best Low-Code Vendor to partner with. The recent $360 million investment by KKR and Goldman Sachs was a sweet confirmation that I made the right choice. OutSystems’ presence in the ANZ/APAC region is growing tremendously and I look forward to seeing many more customers adopting this great platform to accelerate their digital initiatives.