Software development platform OutSystems has announced a $150 million capital raise, co-led by Abdiel Capital and Tiger Global, at $9.5 billion.
Headquartered in Boston, Massachusetts, OutSystems said that the funding will be used to expand investments in its R&D and go-to-market-strategy.
The company was founded in Portugal in 2001 to give every organisation the power to innovate through software.
The company said that the latest funding is a recognition of the success of that singular focus and the transformative impact on its rapidly expanding global customer base.
Businesses can use the OutSystems platform to develop, deploy and manage critical apps at speed — whether it’s for transforming customer experiences, delivering workplace innovation, automating processes, or modernizing core systems.
OutSystems has customers in 87 countries, more than 1,300 employees worldwide, and partnerships with 350 partners including Amazon Web Services (AWS), Deloitte, and Infosys.