OutSystems invests in Braga office and takes on staff

OutSystems, the Portugal unicorn low-code company for rapid applications announced on Tuesday the inauguration of its refurbished office in Braga in a €1 million investment.

That investment also includes the recruitment of 23 new staff members which will join the 47-strong team in the region.
“We want to provide the best conditions to our staff so that they feel productive and motivated. To continue to invest in the growth of the team in Braga, it was vital to extend and improve the work space in line with our ambitions and the needs of our staff” says Nuno Antunues, VP of Engineering at OutSystems.
The contracts announced for Braga are mostly focused on product research and development with emphasis on software engineers (full stack, mobile and cloud), product designers and product managers.
It was announced last month that Sonaecom recorded profits of €70 million in 2018 partly on the back of a round of financing linked to Outsystems in a net result that was “significantly above” the €22.9 million recorded for 2017.
Sonae was an investor in the Fund Armilar Venture Partners II which invested in OutSystems and as a result of the latest round of financing invested in the unicorn, there was a share capital distribution of €57.8 million recorded in Sonaecom’s financial results.
In June 2018, Outsystems announced a capital round of US$ 360 million.