Mendix Company Profile

Background

Founded in 2005 in Rotterdam, Netherlands, Mendix is a leading low-code software development platform that enables organizations to rapidly create and deploy enterprise applications. The company's mission is to bridge the gap between business and IT by providing a collaborative environment where both professional developers and business users can contribute to application development. Mendix's vision is to empower enterprises to accelerate digital transformation through agile and efficient application development processes. In 2018, Mendix was acquired by Siemens AG, integrating its platform into Siemens' Xcelerator portfolio to enhance digitalization efforts across various industries.

Key Strategic Focus

Mendix focuses on delivering a comprehensive low-code platform that supports the entire application development lifecycle. The platform emphasizes:

Abstraction and Automation: Simplifying complex coding tasks to accelerate development.

Cloud-Native Capabilities: Ensuring scalability and flexibility in deployment.

Collaboration: Facilitating seamless interaction between business and IT teams.

Mendix targets a broad range of industries, including financial services, insurance, retail, transportation, public sector, manufacturing, and industrial sectors. The platform is designed to address the needs of both professional developers and citizen developers, enabling organizations to build applications that drive digital transformation.

Financials and Funding

Prior to its acquisition by Siemens in 2018, Mendix raised a total of $38 million in funding over two rounds. Since the acquisition, the company has experienced significant growth, with annual recurring revenue (ARR) increasing by more than 300%. In 2024, Mendix reported revenue of $169.8 million, up from $128.7 million in 2023.

Technological Platform and Innovation

Mendix's platform is built on several key pillars:

Model-Driven Development: Utilizing visual models to define application logic and user interfaces, reducing the need for manual coding.

AI and Machine Learning Tools: Incorporating intelligent automation to enhance development efficiency and application capabilities.

Cloud-Native Architecture: Ensuring applications are scalable, resilient, and adaptable to various deployment environments.

Extensibility: Providing open APIs and integration capabilities to connect with existing systems and third-party services.

These features enable organizations to rapidly develop, deploy, and manage applications that meet evolving business needs.

Leadership Team

Mendix's leadership team comprises experienced professionals dedicated to driving the company's growth and innovation:

Raymond Kok: Chief Executive Officer

Frank Baalbergen: Chief Information Security Officer

Arno Burggraaf: Chief Information Officer

Hans de Visser: Chief Product Officer

Nick Ford: Chief Growth Officer

Koert Hagoort: Senior Vice President, R&D

Astrid Lausberg: Chief People Officer

Robert Nowak: Chief Financial Officer

Edwin Severijn: Chief Revenue Officer

Gordon Van Huizen: Senior Vice President, Strategy

These leaders bring a wealth of experience in technology, product development, finance, and strategy, positioning Mendix for continued success in the low-code development market.

Leadership Changes

In May 2022, Tim Srock was appointed as the new CEO of Mendix, succeeding co-founder Derek Roos. Srock, who previously served as the company's CFO, aims to position Mendix at the center of enterprise application development and drive the next phase of hypergrowth.

Competitor Profile

Market Insights and Dynamics

The low-code development platform market has experienced significant growth, driven by the increasing demand for rapid application development and digital transformation initiatives. Gartner predicts that by 2024, low-code platforms will be responsible for 65% of all app development.

Competitor Analysis

Mendix operates in a competitive landscape with several notable competitors:

OutSystems: Offers a versatile low-code development tool tailored for professional developers, focusing on complex application development.

Appian: Provides a low-code platform emphasizing business process management and automation, facilitating collaboration between professional and citizen developers.

Pega: Known for its comprehensive low-code tools and business process management capabilities, offering advanced features for governance and process automation.

ServiceNow: Offers a low-code platform with robust workflow automation and integration capabilities, focusing on IT service management and enterprise operations.

Quickbase: Provides a cloud-based low-code platform enabling users to build custom applications and automate business processes without extensive coding.

These competitors offer various features and pricing models, catering to different organizational needs and development requirements.