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OutSystems
Enterprise Software
OutSystems is a Boston- and Portugal-based low-code application development platform that lets enterprises build custom business software applications with significantly less hand-coding than traditional software development.
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OutSystems was founded in 2001 in Portugal by Paulo Rosado, entering the enterprise application development market well before "low-code" became a widely used industry term, building a platform that lets enterprise developers build custom business applications using visual, model-driven development tools and pre-built components, requiring significantly less traditional hand-written code than conventional software development approaches, aiming to help enterprises build and deploy custom internal and customer-facing applications significantly faster than traditional coding-intensive development processes typically allow, while still supporting more complex, enterprise-grade application requirements than simpler no-code tools aimed at less technical business users can typically handle. OutSystems has positioned its platform specifically toward large enterprise application development needs, including complex, mission-critical business applications with sophisticated integration requirements, security and compliance needs, and the ability to scale to support very large numbers of users, differentiating itself from simpler, more consumer-oriented no-code and low-code tools that are often better suited to simpler internal tools and workflows rather than complex, enterprise-grade custom applications. The platform lets professional developers work more efficiently using visual development tools and reusable components while still allowing custom code to be incorporated where the platform's visual tools don't fully address a specific complex requirement, a hybrid approach the company argues offers meaningfully faster development for many enterprise application needs while still providing the flexibility needed for genuinely complex, custom requirements that pure no-code tools often cannot adequately address. OutSystems has built a substantial global enterprise customer base across many industries seeking to accelerate custom application development given chronic shortages of experienced software developers and the significant application development backlogs many large enterprise IT departments face trying to keep up with business demand for new and updated internal and customer-facing software. The company has raised very substantial venture and private equity funding from investors including KKR, Goldman Sachs, and Iconiq Capital, reaching a valuation exceeding $9.5 billion, competing with other low-code platforms including Mendix (owned by Siemens) and Microsoft's Power Platform.
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