OutSystems, provider of the industry leading Agile Platform application development environment, announced today record growth in 2011. The company finished 2011 with 173 percent global new customer growth, and aggressive plans for continued adoption of its Rapid Application Development (RAD) Platform-as-a-Service (PaaS) offering, particularly in North America, Brazil and Australia, where OutSystems’ growth rapidly accelerated during 2011.
2011 marked the third full year since OutSystems transitioned from a perpetual license model to a subscription based model and the company has bypassed the expected revenue slump that typically occurs to most software companies making this shift. This is highlighted by the company’s end of year CMRR (Committed Monthly Recurring Revenue) increasing by 49 percent over 2010’s ending CMRR amount. In addition, during 2011, OutSystems exceeded its global sales targets and was profitable.
OutSystems investments are paying off around the world. In North America, the company achieved a record year and grew new customer acquisition over 2010 by 210 percent. As market awareness for OutSystems grows in the United States and Canada, the company has experienced a rapid uptake of its technology. To support this growth, during 2011, OutSystems added Jeff Newlin as vice president and general manager, North America. Since joining, Newlin has expanded OutSystems’ commercial sales and services teams and expanded the company’s focus on supporting activity in the U.S. federal government.
Both Brazil and Australia also provided strong growth for OutSystems during 2011, as the company added new channel partners and customers in both markets. These emerging markets grew new customers over 2010 numbers by 144 percent. During 2011, the company’s first adopters from 2010 began to use OutSystems’ technology across a wide variety of projects, which has lead to increased revenue from these territories and helped increase awareness.
Additional highlights for 2011 include:
Mature markets for the company, including Portugal and Benelux, continued to show strong adoption of OutSystems technologies and supporting services.
In spite of the economic challenges in Portugal, OutSystems grew new customer acquisition over 2010 by 159 percent. According to Rosado, Portugal’s economic climate has motivated local teams to help organizations embrace OutSystems’ technology and processes, which have been proven to reduce costs and support innovation.
OutSystems experienced aggressive growth in Benelux as the result of existing customer success and new customer acquisitions across a variety of market segments, experiencing a 217 percent increase in new customers over the previous year. The energy market in Benelux continues to provide strong opportunities for OutSystems, where the company has a proven track record of helping customers deliver innovative solutions.
For more information on the Agile Platform and OutSystems, please visit http://www.outsystems.com.
Agile Development, Software Development, Enterprise Applications, enterprise software, enterprise web applications, OutSystems grow, global expansion.