It will use funds to accelerate innovation, scale operations in APAC and increase hiring of sales and operation teams in the region
US-based Rapid Application Development and Delivery (RAD) OutSystems has successfully raised US$55 million from North Bridge Growth Equity, a US-based growth equity firm — managing a capital of US$3.8 billion — that invests in high-growth technology companies, it announced yesterday.
It will use funds to scale its operations to meet the growing demands of the mobile and web rapid app development platform market in APAC. It will also fuel the company’s product innovation efforts worldwide as well as accelerate hiring in its sales and marketing teams in the region.
According to OutSystems’s official press release “A shortage of highly skilled developers combined with the demand for costly new mobile applications within businesses has led to exploding global demand for low-code application platforms and mobile application development platforms.”
OutSystems has a subscription revenue due to this growing demand, its revenue increased by more than 60 percent in 2015.
What does it mean for Asia?
With the exponential increase in smartphone adoption in APAC; demand for apps will likewise surge. It is therefore critical for app developers to adopt a development methodology that will allow them to develop, iterate, and deploy apps at an inexpensive and sustainable operational cost.
OutSystems fills this need through its rapid application delivery and agile development, allowing for a more efficient and quicker developmental process.
One example of this is it combines visual modelling with the developer’s code. The ability to merge these two aspects together – UI design, business processes, business logic and data models, and add a full reference-checking and self-healing engine, reduces development time, ensures that the applications are error-free and that existing applications would not be impacted by the changes.
“OutSystems’s full-featured platform includes everything a startup would need to deliver a robust, enterprise-grade application – rapid productivity, multi–channel development, open platform, security and governance,” said Nuno Pereira, Director for APAC at OutSystems, in an email interview with e27.
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