Ropes & Gray Advises Abdiel Capital in $150 Million Capital Raise by OutSystems
Ropes & Gray represented Abdiel Capital Advisors as the co-lead investor in a $150 million capital raise by OutSystems, a leading software application platform. Tiger Global also participated in the raise as a co-lead investor. The funding will be used to expand investment in OutSystems research and develop and go-to-market strategy. The transaction was announced on February 17.
This investment follows a year that saw OutSystems expand with customers in 87 countries, more than 1,300 employees worldwide, and partnerships with 350 organizations including AWS, Deloitte, and Infosys.
The Ropes & Gray team was led by venture capital & emerging companies partner Brad Flint and associate Adam Stein (both of Boston).