OutSystems Raises $360 Million Investment from KKR and Goldman Sachs to Solidify Its Leadership Position in the Fast-Growing Low-Code Application Development Market
Summary
NEW YORK & LONDON & LISBON, Portugual--( BUSINESS WIRE )-- OutSystems , the global leader in low-code rapid application development, today announced it has raised $360 million in an investment round from KKR and Goldman Sachs.“We’re attacking one of the biggest problems facing businesses today -- the lack of speed and agility of traditional software development that is hindering digital transformation initiatives around the world,” said Paulo Rosado, OutSystems CEO.“We believe we are in the early innings of what will be an extended period of significant growth in the low-code application development market, and we are very excited to be backing a category leader like OutSystems,” said Stephen Shanley, Director at KKR.“We found that we could point to every major industry sector and find excited and loyal OutSystems customers who have developed unique solutions and are adopting the platform across their organization,” said Kirk Lepke, Vice President at Goldman Sachs Private Capital Investing.Having global investors the caliber of KKR and Goldman Sachs that share our vision for the future of revolutionizing software development sets us on a path of tremendous growth and innovation that will fundamentally change how organizations build software.”