Mendix Surpasses $100 Million Annual Recurring Revenue
Mendix, a Siemens business and global leader in low-code application development for the enterprise, today released current growth metrics and announced its entrance into the Asia-Pacific market with a new office opening in Singapore. To date in 2020, Mendix has already surpassed the revenue growth it logged in the last three calendar years combined and is on track to double revenue again within the next 18 months.
Mendix has been experiencing exceptional growth in both annual recurring revenue and in the user base for its market-leading low-code platform.
“With Mendix, low-code for the enterprise has come of age and is taking its place as a major player in the enterprise digital agenda,” says Mendix CEO Derek Roos. “The combination of model-driven development and an expanded developer pool that includes non-technical ‘citizen’ developers is enabling enterprises to turbocharge their digital project pipeline. I’m excited by the momentum we’re seeing.”
Loyal Customers and an Expanding Base
The combination of exceptionally sticky customers and a steady stream of new logos is a primary driver of Mendix’s strong, sustained growth, significantly boosted by Siemens’ global reach and infrastructure, and its investment in the Mendix business. Customer subscription renewals reached the high-90% range in 2020, and the platform is now in use in 25 distinct industries and growing.
Customers like credit insurance company Euler Hermes are leveraging Mendix to rapidly create enterprise-wide applications that can easily be customized for their local operations worldwide. The company reaps the benefit of efficient, centralized app development while also addressing the specific, localized needs of far-flung global offices, enabling all of their constituents to operate the way they work best.
Frank Henze, regional head of digital transformation, APAC, at Euler Hermes, says, “At Euler Hermes, we use Mendix to create new applications fast and to standardize our architecture across many geographies. As a global business, it’s important for our organizations to deliver scalable solutions tailored to local requirements. The Mendix low-code platform allows us to achieve these goals.”
Mendix is launching into the Asia-Pacific market with local teams across the region. Leveraging the strength of Siemens Digital Industries Software’s established footprint in the region, as well as established partner relationships, Mendix is well-positioned to make major inroads into China, India, Japan, Southeast Asia, Australia, and New Zealand in 2021.
This was posted in Bdaily's Members' News section by Mendix .