Mendix, an app builder platform for the enterprise, has closed a $25 million Series B, led by Battery Ventures. Existing investor Prime Ventures also participated. Mendix raised a $13 million Series A back in 2011, according to CrunchBase. It was founded back in 2005.
Mendix’s platform aims to make it faster and easier for businesses to develop, deploy and manage mobile and web apps. (For acronym collectors, the space where Mendix plays is called aPaaS: aka application platform as a service.)
Its platform aims to speed up dev times by simplifying the development process using features such as visual workflows, to make it easier to add logic and business rules to apps; a drag-and-drop form builder for web and mobile interfaces; and an app store were users can download pre-built components, themes, widgets and entire apps.
Mendix claims the platform enables business applications to be developed and deployed as much as 10x faster than “traditional” development methods.
The company said it will use the new funding for continued global expansion, product development and sales efforts, with a target of “aggressively” ramping up its market share. It says “hundreds” of large enterprises are using its platform globally, name-checking the likes of ABN Amro, Sprint, Dun & Bradstreet, Genzyme, KPN, Liberty Mutual, LV=, Roche and TNT.
It also says 2013 marked the fifth consecutive year of triple-digit growth for the business. Which isn’t surprising when you consider the ongoing popularity of apps among consumers — and since consumers are obsessed with apps, businesses gotta build ‘em.
Commenting on the funding in a statement, Michael Brown, General Partner at Battery Ventures said: “It was clear from the beginning that Mendix represents an exceptional opportunity – the right team and the right product at the right time. We are impressed with the company’s vision and execution, strong revenue growth and phenomenal customer success rate. The aPaaS market is currently wide open, and we believe Mendix is well positioned to be the dominant player.”
Article courtesy of TechCrunch