OutSystems, an Atlanta, GA-based Rapid Application Development and Delivery (RAD) platform for the enterprise, completed a $55m funding round.
North Bridge Growth Equity, a growth equity firm that invests in high-growth technology companies, made the investment. In conjunction with the deal, North Bridge partners Mike Pehl and Jim Moran are joining the Board of Directors of OutSystems.
The company intends to use the funds to scale operations to support its growth.
Founded in 2001 and led by Paulo Rosado, CEO, OutSystems provides a Rapid Application Delivery (RAD) platform for the enterprise to create, deploy, change, and manage custom mobile and web applications – delivered across all devices. Available as a cloud or on-premises solution with integration to all existing systems and an open architecture, OutSystems manages the complete application lifecycle of large portfolios at over 600 enterprise organizations in 33 countries across 22 industries.
North Bridge Growth Equity joined ES Ventures and Portugal Ventures as investors in OutSystems.