OutSystems Raises $55m Investment from North Bridge Growth Equity

OutSystems Profile

  • OutSystems is the world’s leading Rapid Application Development and Delivery (RAD) provider for the enterprise, empowering IT to fundamentally change the way applications are built and delivered
  • OutSystems Platform is the fastest and most comprehensive solution for creating, deploying, changing and managing custom enterprise mobile and web applications
  • Available as a cloud or on-premises solution with deep integration to all existing systems and an open architecture, OutSystems manages the complete application lifecycle for corporate projects at over 600 enterprise customers across 33 countries and 22 industries
  • The company was founded in 2001 and is headquartered in Lisbon, Portugal, and now is a global business with eight offices worldwide

North Bridge Growth Equity Profile

  • North Bridge Growth Equity actively partners with founders and entrepreneurs of market leading companies who are using technology to disrupt and reinvent large, dynamic markets
  • With $3.8 billion of capital under management, the firm has funded more than 170 companies, which include Acquia, Actifio, Dyn, Demandware, Proto Labs, Starent Networks, Seniorlink, Smart Pak, Valence Health and WP Engine
  • North Bridge was founded in 2007 and is based in Waltham, MA

Transaction Notes

  • North Bridge Growth Equity invested $55 million in OutSystems in a Series C round of funding
  • The new funding will allow OutSystems to further capitalize on the exploding global market for low code application platforms, and support additional investment in the company’s organic growth strategies
  • “Two major factors really attracted us to OutSystems.  First, their customer base is evangelical about their experience with the product.  The technology is adding value and enabling a real competitive advantage to their business.  Second, they are the market leader in the low code application platform space, which is a market we believe to be taking off right now given the high demand for applications and relative scarcity of highly skilled developers.” – Jim Moran (General Partner, North Bridge Growth Equity)
  • “The innovative perspective at OutSystems enables us to be a catalyst of change, and we are thrilled to work with a partner who has a solid track record of helping transformative business thrive.  This is a very big opportunity and North Bridge will help us seize it.” – Paulo Rosado (CEO of OutSystems)
  • Shea & Company served as the exclusive placement agent for the financing round
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Shea & Company served as the exclusive placement agent for the transaction