App firm Mendix to triple Boston staff after raising $13M
Boston Business Journal by Kyle Alspach, VC Editor
- Kyle Alspach – VC Editor – Article Courtesy of: Boston Business Journal
Business app software firm Mendix Inc. plans to triple its Boston staff to 30 in the next year after raising a Series A round of $13 million, the company said Monday.
The company, founded in the Netherlands in 2005, has its sales and marketing headquarters in the South Boston Innovation District.
The company currently employs about eight people in Boston and 100 overall, said CEO Derek Roos.
The company said it has raised its first financing round, led by Prime Ventures and including HENQ Invest, both of Amsterdam.
Roos said the company began increasing its Boston operation a year ago, after settling on the city following a search that included New York City and Silicon Valley.
Proximity to corporate clients in New York and Hartford, along with talent coming out of universities, were the main reasons for the decision, he said.
“Everything we were looking for is basically centralized around Boston,” Roos said.
Roos did not disclose the company’s revenue, but the company reports seeing triple-digit revenue growth annually since launching its product in 2007.
The company has not needed outside investment until now because it’s been consistently profitable, he said.
When & who?
Built on a combination of early academic research and personal frustration with the rigidity and complexity of traditional enterprise software, Mendix originated as a spin-off from the Technical University Delft and the Erasmus University of Rotterdam.
Today we are an ambitious, highly energetic and rapidly growing team of 75+ Mendixites. In only 5 years, Mendix has built a strong brand as an innovative, but proven and award-winning software company dedicated to revolutionizing the delivery of next-generation business applications. Mendix is venture capital backed but has been profitable since its conception, achieving annual triple-digit growth.
Why & how?
Vision: wouldn’t it be great if we could build new business apps, either stand-alone or on top of existing systems, without the need to manually write code or worry about buying and maintaining complex infrastructures?
Initially built on personal frustration with the rigidity of enterprise software and traditional development tools and techniques, we envisioned a world in which businesses could respond to new opportunities and changing business requirements without being limited by rigid existing systems or high-risk, lengthy custom development projects.
Today, this ambition still drives everything we do. More literally, we have translated this ambition into the following Mendix pillars:
- Speed: reduce time-to-market of new apps and business initiatives by at least 5x (naturally resulting in reduced cost and risk)
- Flexibility: respond to new insights and changing business requirements when needed (allowing rapid prototyping and agile development)
- Ease-of-use: simplify and reduce technical complexity in such a way that Business Analysts can do much of the work
These pillars translate into the Mendix Agile Business Platform™, to rapidly build better business applications that are easily integrated and adapted in any existing IT & business environment. Naturally, concepts such as agile development, model-driven development and rapid prototyping are at the heart of our product road-map and company philosophy.
We are a global company. We have office locations The Netherlands, United States of America, South Africa & United Kingdom. We also have dedicated distributors in Thailand and the Middle-East, and implementation partners around the globe.