OutSystems announces triple-digit growth
Redwood City, California - 13 January 2006
OutSystems maintains its rapid turnover growth and reinforces its international presence.
OutSystems has announced that the company closed its 2005 fiscal-year ended December 31, with a revenue increase of over 100% versus 2004.
OutSystems is a multinational software company providing an agile software platform to build, change and operate enterprise solutions that integrate with existing systems and reach users via web browsers, email and mobile interfaces.
With OutSystems Platform applications are created quickly and can be easily modified during any phase of their life cycle with very limited risk. This built-to-change approach ensures that they are constantly aligned with business needs and reflect user feedback, maximizing adoption.
The company operates directly in Europe and the USA and has been displaying yearly turnover growth of around 100% since its creation in 2001.
In February 2005 the company closed a Series B financing round to accelerate its international expansion strategy. The company increased its presence in existing territories and acquired new customers in Europe, Africa, Latin America and the United States, doubling its existing customer base.
According to Paulo Rosado, OutSystems CEO, “This is a direct result of the quality of our product and the proven value it brings to companies worldwide. We could not be more excited about the plans we have for 2006, when we will bring in further innovation to our platform.”
OutSystems Platform, currently in its version 3.2, is being used by medium-large companies across multiple territories and markets, including Energy, Infrastructures, Consumer Products, Household Appliances, Biotech, Pharmaceutical, Medical, Telecommunications, Government and Insurance.
“We are experiencing a large increase in the number and scope of projects in Europe and the US. The flexibility provided by our platform in building and maintaining enterprise solutions for medium and large companies, is highly valued by our customers and has proven to be a major differentiator.” - says Tony De Sousa, OutSystems VP for Worldwide Sales.