Mendix CEO Derek Roos shares his findings with The Exchange
Investor interest in No-CodeLow-code apps and services took another step forward this morning when Airtable launched an oversized round. The $ 185 million investment in the popular database and spreadsheet service comes from our own reports adding “new low-code and automation capabilities.”
The round comes after we saw several VCs describe no- and low-code startups as part of their core investment theses and watched the same investors seem to be accelerating their investment pace in emerging companies that follow the ethos.
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The expectation that businesses will need more custom software than today̵
However, considering that there is a market mismatch between supply and demand from developers, the expectation is that businesses will need more apps today than they did before and even more in the future. This growing need for more business applications is key to today’s growing divergence between availability and demand for software developers.
We investigated the problem when we spoke to Appian, a publicly traded company that offers a low-code service that companies can use to create apps.
Today we’re going to dig a little deeper and have a chat with Mendix CEO Derek Roos. Mendix has had nine-digit sales for its low-code platform that helps other companies build apps. This means that it has a good view of what the market is actually asking of itself and its low-code competition.
We’d like to learn a little more about why companies need so many apps, how COVID-19 changed the low-code market, and whether Mendix accelerating in 2020. With all of this under control, we will be better equipped to understand the growing no- and low-code startup empire.
A growing market
Boston-based Mendix raised around $ 38 million in known venture capital in just a few rounds, including a Series B worth $ 25 million in 2014. In 2018, Mendix teamed up with IBM to bring its service to the cloud and later sold it to Siemens for around $ 700 million in the same year.