Mendix

Type| Private
Industry| Computer Software
Digital Transformation
Platform as a Service
Cloud Computing
Founded| 2005
Headquarters| Boston, Massachusetts

Key people

| Derek Roos, CEO
Tim Srock, CFO
Johan den Haan, CTO
Products|

* Mendix platform

Revenue|  $100.2 Million(2020)[1]

Number of employees

| 500
Parent| Siemens
Website| www.mendix.com

Mendix is an American low-code software platform company that provides tools to build, test, deploy and iterate applications. The company was founded in 2005 and was acquired by Siemens in 2018. It now operates as an independent subsidiary. [2] [3][4]

## Contents

* 1 History
* 2 Products
* 3 Reception
* 4 References

## History

The company was founded in Rotterdam, the Netherlands in 2005[5] and moved its headquarters to the United States in early 2012.[6]

In October 2011, Mendix raised $13 million with its first round of venture capital funding. The funding was led by Prime Ventures, with additional participation from HENQ Invest, which provided an unnamed sum in 2006.[7]

In January 2014, Mendix closed a $25 million Series B, led by Battery Ventures and reported growth for the fifth consecutive year.[8] Later in 2014, Mendix announced 20 new partners worldwide, including Bodhtree, UST Global, Pegamento, and Pariveda Solutions. This list complements the company's existing partner network, including Accenture and Capgemini, among others.[9] Subsequent partner additions included Mphasis,[10] HP[11] and Pivotal.[12] In August 2018, the company's CEO announced its acquisition by Siemens for $730 million in cash and the deal was finalized later that year.[13][14] It now operates as an independent subsidiary. [15] [16][17]

## Products

The Mendix application platform is based on visual, model-driven software development and offers a free software community edition of its low-code application development tools as well as a cloud ecosystem for teams, business analysts and other partners.[18]

The Mendix App Store also offers new widgets to access native device functions, such as contacts, camera, geolocation and bar code scanner. The company also released the Mendix Developer App to test mobile apps. With it, developers can scan a QR code to pair their target devices with their development environments to test native device functionality.[19] Mendix announced a reseller agreement with SAP through which, SAP will resell the Mendix platform under the name SAP Cloud Platform Rapid Application Development by Mendix.[20]

## Reception

At the request of Mendix,[21] QSM Research made an independent benchmark of the product as compared with the average of software projects in the QSM industry database. According to this report, in most of the projects included in the comparison Mendix outperformed traditional development environments as measured in function points per hour and team sizes.[21] In December 2014, Mendix was cited as a "Leader" in the Forrester Wave: Enterprise Public Cloud Platforms for Rapid Developers, Q4 2014 report.[22] Gartner also listed Mendix as a Visionary within its 2015 Magic Quadrant for Enterprise Application Platforms as a Service.[23]

Business.com listed as drawbacks that it's not clear the features and services included in each support plan, and that, being a low-code system, it provides less control of the application than a traditional platform.[24]

## References

1. ↑ https://www.mendix.com/press/mendix-fires-on-all-cylinders-surpassed-100-million-annual-recurring-revenue-and-now-on-trajectory-to-double-in-18-months/
2. ↑ https://go.forrester.com/blogs/siemens-snaps-up-mendix-low-code-platforms-enter-new-phase/
3. ↑ https://www.mendix.com/blog/mendix-and-siemens-to-re-define-the-future-of-application-development/
4. ↑ https://www.mendix.com/blog/siemens-to-acquire-mendix/
5. ↑ Leena Rao, "Mendix Helps Enterprises Streamline Application Deployment," TechCrunch, April 2009
6. ↑ Christopher Calnan, "Dutch software firm Mendix set to move to Cambridge ," Mass High Tech, December 2007
7. ↑ Sean Ludwig, "Mendix grabs $13M to fuel fast enterprise app development," VentureBeat, October 2011
8. ↑ Natasha Lomas, "Mendix, An App-Builder Platform For The Enterprise, Closes $25M Series B Led By Battery Ventures," TechCrunch, January 2014
9. ↑ "Mendix Announces Expanded Partner Program, Strong Ecosystem Growth," Reuters, July 2014
10. ↑ "Mphasis Partners with Mendix to Rapidly Turn Industry Knowledge into Innovative Solutions," Yahoo! Finance, September 2014
11. ↑ Darryl K. Taft, "Mendix Teams with HP for No-Code Development on Helion," eWeek, December 2014
12. ↑ Ben Kepes, "Mendix and Pivotal Partner To Enable Easier Development," Forbes, April 2015
13. ↑ https://www.mendix.com/blog/siemens-to-acquire-mendix/
14. ↑ || TechCrunch: Siemens acquires low-code platform Mendix for $700M
15. ↑ https://go.forrester.com/blogs/siemens-snaps-up-mendix-low-code-platforms-enter-new-phase/
16. ↑ https://www.mendix.com/blog/mendix-and-siemens-to-re-define-the-future-of-application-development/
17. ↑ https://www.mendix.com/blog/siemens-to-acquire-mendix/
18. ↑ Sara Castellanos, "Mendix launches free business app development software for startups, small teams," The Boston Business Journal, April 2014
19. ↑ David Ramel, "Mendix App Platform Integrates with PhoneGap for Cross-Platform Mobile Development," ADT Mag, October 2014
20. ↑ "Mendix Announces Global Reseller Agreement with SAP, Providing Enterprises Low-Code Development for Building Enterprise Apps at Speed and Scale" (in en-US). Mendix. 2017-09-26. https://www.mendix.com/press/mendix-announces-global-reseller-agreement-with-sap-providing-enterprises-low-code-development-for-building-web-and-mobile-apps-at-speed-and-scale/.
21. ↑ 21.0 21.1 [1] GSM Mendix benchmark report
22. ↑ Reuters, "Mendix Named a Leader Among Enterprise Public Cloud Platforms for Rapid Developers by Independent Research Firm," Reuters, December 2014
23. ↑ Reuters, "Mendix Named a Visionary in Gartner 2015 Magic Quadrant for Enterprise Application Platform as a Service, Worldwide," Reuters, April 2015
24. ↑ "Mendix Review 2018 | Cloud Computing Service Reviews" (in en). https://www.business.com/reviews/mendix/.

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