Sign In
NewsRadar

Search Press
Looking for press releases of a particular company? Enter company name (or keyword) here.

   


OutSystems completes €2.2 Million financing round
Financing will accelerate OutSystems multinational expansion plans


Lisbon, Portugal, February 23, 2005 – OutSystems announced today the closing of a € 2.2 million Series B round of financing. The investment was led by the new investor PME Investimentos, a Portuguese Venture Capital company.

OutSystems, a multinational software company with offices in Holland, Spain and Portugal, provides a platform that enables companies to quickly create and launch enterprise applications, in weeks instead of months. The OutSystems Hub Edition platform makes it possible to easily change and maintain applications during their whole life-cycle, ensuring that they are fully aligned to the business needs and constantly reflect user feedback, with limited project risk. Applications are delivered in time and on budget, with a reduction of 30% to 40% of the Total Cost of Ownership and user adoption rates above 80%.

The company was founded in March 2001 and in October that year obtained €1 Million seed funding from NeSBIC CTe Fund. This initial funding took the company though the development and launch of its flagship product, the OutSystems Hub Edition platform. In 2003 OutSystems achieved the financial breakeven and was identified by Fortune magazine as one of the 6 worldwide start-ups to watch for.

Since its creation just 4 years ago, OutSystems has built an impressive customer base which currently includes references in diverse industries, including Optimus Telecomunicações and Telefónica Móviles (Wireless Operators), Brisa Autoestradas, ANA Aeroportos and REFER (Transportation), Transgás, EDP Valor and E.ON Benelux (Utilities and Energy), Bristol-Myers Squibb Portugal (Pharmaceutics), DGDR (Government), Liberty Seguros (Insurance), Campofrio (Consumer Goods), among others.

João Vicente Ribeiro, President of PME Investimentos, commented “we are currently backing Portuguese high-tech companies with a high potential for internationalization and growth. OutSystems fits perfectly both categories and we believe it to be a winner in national and international markets”.

This new financing will enable OutSystems to accelerate its international expansion, which has been a feature of the company’s growth since its creation in 2001, and cement OutSystems’ position as a global high-tech company.

OutSystems’ CEO, Paulo Rosado, said of the investment: “We are very pleased with the trust shown in our team, technology, strategy and especially in our capacity to deliver. This investment is vital for the acceleration of our growth in Europe, especially in Spain and Holland, and to prepare for OutSystems’ entry in the UK and US markets. We will also make a significant investment in our R&D efforts with the clear objective of further increasing our competitive advantage and product differentiators.”


About OutSystems
OutSystems is a multinational software company which develops and markets the OutSystems Hub Edition platform.
OutSystems Hub Edition enables companies to quickly create and launch enterprise applications, in weeks instead of months.
Applications can be easily changed and maintained during their whole life-cycle, to ensure that they are fully aligned to the business needs and constantly reflect user feedback, with limited risk project risk.
With OutSystems Hub Edition, applications are delivered in time and on budget, with a reduction of 30% to 40% of the Total Cost of Ownership and user adoption rates above 80%.
OutSystems sells directly in Holland, Spain and Portugal and has several international partnerships to target other regions.
For more information, please visit www.outsystems.com.

About PME Investimentos
PME Investimentos is an investment company which is especially active in the Venture Capital arena, currently managing 4 investment funds which amount to a total of 53 million Euros.
PME Investimentos also assumes the management role of the Fundo de Sindicação de Capital de Risco (an instrument for risk sharing between operators) and the Fundo de Garantia e Titularização


Publisher Contact Information:

OutSystems
+351 21 415 37 35
michel.ozzello@outsystems.com

Company profile of OutSystems
Past press releases of OutSystems.

Data


26,227
Tech investments
From our Online Data Service
16,943
VC-backed companies
From our Radar


Recent Deals


DATEAMOUNTSECTOR
Oct 11N/AInternet services
Oct 11€1.1MKnowledge management
Oct 11N/AInternet services
Oct 11€13.0MBiotechnology
Oct 11N/AMedical devices
Oct 10€50.0MInternet services
Oct 10€23.0MOther Computers & Electronics

For information on Europe's most extensive database on technology funding click here!

Events



Press Releases


May 28
Identiq
identiq raises $5m seed, launches privacy-first identity validation...

Apr 29
Nethone
nethone raised over $1 million from innovation nest

Oct 1
The Link App
the link app launches version 2.0

Mar 29
Addex Therapeutics
addex sucessfully raises chf40 million in capital increase

Jan 2
Urban Jungle
urban jungle raises £1m in seed funding to build tech-enabled home ...





About usContact usLegal Information
Copyright © 1999-2019
Emerging Technology Research Europe Inc. All rights reserved.