Outsystems raises $150 million to expand the reach of its low-code development platform

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Outsystems, an early developer of a platform for building applications using low-code tools, today announced it has raised a $150 million series E round that brings its valuation to $9.5 billion.

The latest round of funding, led by Abdiel Capital and Tiger Global, will be used to continue expanding the company’s overall go-to-market and product development strategy, Outsystems CEO Paulo Rosado said.

Headquartered in Lisbon, Portugal, Outsystems provides a platform that is employed by thousands of companies and more than 350 partners operating in over 90 countries. With more than 1,300 employees worldwide, the company is engaged in a battle for dominance over tools that abstract away much of the complexity traditionally associated with