Portugal’s OutSystems raises $360M from KKR and Goldman Sachs – TechCrunch

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It’s not typically you get the phrases “Lisbon”, and “$360 million” in the identical sentence with regards to startups, however that’s precisely what’s taking place as we speak with the information that OutSystems — a participant in low-code speedy software growth which is predicated between Atlanta, London and Lisbon — has raised $360 million in an funding spherical from KKR and Goldman Sachs. KKR’s funding was made by way of its Subsequent Technology Expertise Development Fund. That places it into the Unicorn realm and can be a pleasant win for earlier traders Portugal Ventures and Armilar Enterprise Companions, each Portugal-based VC funds. Outsystems was initially based in Lisbon and maintains a big group there however is now HQ’d in Atlanta, USA and has 52 operations around the globe. Now, that’s a scale-up. The information can be a shot within the arm for the Lisbon startup-scene which has been rising at a clip.

OutSystems supplies an open, speedy software supply platform that makes it simpler and quicker to develop apps as soon as and deploy throughout iOS, Android, Home windows Cellphone, and Internet. It has over 400 enterprise organizations in 25 international locations and consists of shoppers equivalent to Toyota, Logitech, Deloitte, Ricoh, Schneider Electrical, and GM Monetary.

“We’re attacking one of many greatest issues going through companies as we speak – the shortage of velocity and agility of conventional software program growth that’s hindering digital transformation initiatives around the globe,” mentioned Paulo Rosado, OutSystems CEO.

“Based in 2001, OutSystems has all the time had a powerful imaginative and prescient for his or her platform. their know-how could be very superior, making a excessive barrier to entry for potential opponents,” mentioned Joaquim Sérvulo Rodrigues, OutSystems Board Member and Accomplice at Armilar Enterprise Companions.



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