OutSystems announced a $150 million capital raise co-led by Abdiel Capital and Tiger Global.

Portugal United States 17 February 2021

OutSystems, a Lisbon, Portugal and Boston, USA-based software developer of a low-code app development platform, announced a $150 million capital raise.

The round, co-led by Abdiel Capital and Tiger Global, values OutSystems at $9.5 billion. Goldman Sachs, KKR, Guidepost Growth Equity, and Armilar Venture Partners also contributed to the round.

The funding will be used to expand investments in its R&D and GTM strategy.

OutSystems, founded in 2001by Paulo Rosado (CEO), Tim MacCarrick and Carlos Alves, developed a low-code platform which provides the tools for companies to develop, deploy and manage omnichannel enterprise applications.

 The compant was founded in Lisbon, Portugal and is currently headquartered in Boston, Massachusetts, in the United States with customers in 87 countries and more than 1,300 employees worldwide.

Total investments received (USD): 150M