OutSystems
Category: AI Developer Tools
A high-performance low-code platform that enables businesses to build and manage enterprise-grade applications. OutSystems was founded in 2001. The company is led by Woodson Martin. Based in Lisbon, Portugal and Boston, USA. Team size: ~1,900. Total funding raised: $572M. Latest round: Series E. Key investors include KKR, Goldman Sachs, Abdiel Capital, Tiger Global Management.
- Founded
- 2001
- Headquarters
- Lisbon, Portugal and Boston, USA
- Team size
- ~1,900
- Total funding
- $572M
Value proposition
To enable organizations to build, deploy, and manage their own business-critical applications, faster and more efficiently, while reducing the reliance on traditional coding.
Products and solutions
OutSystems Platform, OutSystems Developer Cloud, OutSystems Agent Workbench, Forge Marketplace
Unique value
OutSystems combines a visual, model-driven development environment with a robust, scalable, and secure runtime. The platform's ability to integrate with existing systems and its new generative AI capabilities make it a unique offering in the low-code market.
Target customer
Enterprises and large organizations across various industries looking to accelerate their digital transformation initiatives.
Industries served
Financial Services, Healthcare, Government, Retail, Manufacturing, Logistics
Technology advantage
The core technological advantage is the speed and flexibility of the platform, which allows for rapid application development and deployment. The new Agent Workbench provides a significant business advantage by enabling the creation of enterprise-grade AI agents.
How they differentiate
OutSystems differentiates itself by focusing on high-performance, enterprise-grade applications, with a strong emphasis on security, scalability, and integration. The platform's new AI capabilities also set it apart from its competitors.
Main competitors
Mendix, Appian, Microsoft Power Apps
Key partnerships
Amazon Web Services (AWS), Microsoft Azure, Google Cloud Platform (GCP), SAP
Notable customers
Toyota, AXA, Schneider Electric, Deloitte
Major milestones
Achieved unicorn status in 2018., Reached a valuation of $9.5 billion in 2021., Launched the OutSystems Developer Cloud in 2022., Launched the Agent Workbench in 2024., Surpassed €500 million in ARR in 2024., Appointed Woodson Martin as new CEO in 2024.
Growth metrics
Surpassed €500 million in Annual Recurring Revenue (ARR) as of May 2024.
Market positioning
A recognized leader in the low-code application development market, consistently ranked as a top vendor by industry analysts.
Geographic focus
Global, with a strong presence in North America, Europe, and Asia-Pacific.
Patents and IP
OutSystems holds several patents related to its visual development technology and model-driven architecture.
About Woodson Martin
Woodson Martin is the CEO of OutSystems, a position he has held since May 2024. With a rich background in the tech industry, Martin spent 18 years at Salesforce, where he held various executive positions. His most recent role at Salesforce was as the Executive Vice President and General Manager of the AppExchange, where he significantly grew the ecosystem to over 10 million installs and 7,500 applications. Before his tenure at Salesforce, he was with Business Objects, which was later acquired by SAP. His extensive experience in scaling global growth and fostering innovation is set to guide OutSystems in its next phase of expansion.
Official website: https://www.outsystems.com/