OutSystems,
provider of the number one platform for low-code
rapid application development, has revealed its new and expanded
Boston office. The expansion is fueled by an exponential growth in
product adoption, over 100 percent growth in North American employment,
and a 66 percent increase in annual recurring revenue worldwide in 2018.
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The new 14,600-foot office space, located at 55 Thompson Place, is in
the heart of the Boston Seaport district and is more than double the
size of its previous Boston office. Boston was ranked the ninth
likeliest city globally to become a “leading technology innovation hub
outside of Silicon Valley over the next four years,” according to an annual
survey by KPMG. *Technology Innovation Hubs 2019, KPMG
“We’re thrilled to grow our operations in Boston, one of the world’s
true technology capitals,” said Paulo Rosado, CEO of OutSystems. “As our
customers continue to innovate and speed their digital transformation
initiatives with our low-code platform, we’ll be making more investments
in the North American region to ensure their continued success.”
The market for low-code rapid application development continues to grow
at a fast pace. A recent
report by Forrester* noted that 23 percent of developers are already
using low-code platforms and another 22 percent plan to within a year.
While Forrester said, “digital businesses’ demand for ever more software
ever more quickly is the big driver of adoption,” the report also noted
that customers are responding to vendors’ efforts to remove previous
limitations on low-code adoption. *The Forrester Wave™: Low-Code
Development Platforms For AD&D Professionals, Q1 2019
OutSystems closed out 2018 as its most
successful year ever. The company pushed its annual recurring
revenue over $100 million for the first time, posting a 66 percent
increase over 2017. Worldwide employment increased by nearly 400 in
2018, to over 1,000. OutSystems added hundreds of new customers and
nearly 60,000 new developers during the year, and a $360 million funding
round from KKR and Goldman Sachs increased the company’s valuation to
over $1 billion.
About OutSystems
Thousands of customers worldwide trust OutSystems, the number one low-code
platform for rapid application development. Engineers with obsessive
attention to detail crafted every aspect of the OutSystems platform to
help organizations build enterprise-grade apps and transform their
business faster. OutSystems is the only solution that combines the power
of low-code development with advanced mobile capabilities, enabling
visual development of entire applications that easily integrate with
existing systems. Visit us at www.outsystems.com,
or follow us on Twitter @OutSystems
or LinkedIn at https://www.linkedin.com/company/outsystems.
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