Mendix Achieves 400% Revenue Growth in 2011
Triple-digit growth attributed to international expansion and an increasing market need for faster and easier business application delivery
BOSTON – Feb 7, 2012 – Mendix, a global leader in the Application Platform-as-a-Service (PaaS) market, has concluded another year of triple-digit growth as enterprises strive to deliver highly adaptable applications to business units.
The Mendix Agile Business Platform helps companies become much more flexible in responding to business change, by enabling them to rapidly deploy new business apps that extend, modernize and migrate existing systems that are too rigid to support ever changing business requirements. Resulting solutions can then be deployed in the cloud, on mobile devices or locally at the customer’s site.
New license sales grew by more than 400% in 2011, with increased traction in both the US and EU markets. A rapidly expanding partner channel, an injection of new venture capital, and an extended product set contributed significantly to what has been the company’s biggest growth year to date.
Product announcements in 2011 included the launch of Mendix 3.0, a complete and integrated Platform-as-a-Service solution to easily design, develop, deploy, integrate, share and manage business applications. The release includes Sprintr.com, a free social project collaboration space, as well as an enterprise Cloud Portal, for governing deployments centrally and monitoring Mendix Apps in the Cloud.
Mendix’s on-going success was recently acknowledged by the closing of a $13 million Series A round led by Prime Ventures. This latest round will be used to continue global expansion and maintain product leadership. During the year, Mendix expanded its executive team at the company’s new global headquarters in Boston’s Innovation District.
Derek Roos, CEO of Mendix, attributes the company’s rapid growth to an intensifying need among organizations to shorten time to market of new business initiatives, while leveraging data and investments in existing systems. “Too often, the majority of IT resources are absorbed by rigid and expensive ERP/CRM systems, leaving little time for innovation.”
“Our growth is closely tied to Mendix’s ability to address the needs of businesses looking to deliver applications faster and easier. We have set very aggressive goals for 2012, with a particular focus on international expansion, as well as R&D to continue to deliver market-defining innovations. We are planning some exciting releases that I believe will further strengthen our leadership position in this space.”