Mendix Fires On All Cylinders; Surpassed $100 Million Annual Recurring Revenue and Now on Trajectory to Double in 18 Months
- As part of Siemens Digital Industries Software, low-code leader Mendix expands into APAC; targeting customers in China, Japan, India, Southeast Asia, Australia, and New Zealand
- Global pandemic has surfaced numerous urgent use cases in which low-code came to the rescue
BOSTON, Sept. 2, 2020 /PRNewswire/ -- VIRTUAL GLOBAL EVENT - MENDIX WORLD - 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.
Strong growth in revenue, platform developers
Mendix has been experiencing exceptional growth in both annual recurring revenue and in the user base for its market-leading l ow-code platform.
Key highlights:
- After surpassing USD$100+ million annual recurring revenue, Mendix is now on a trajectory to double annual recurring revenue in the next 18 months.
- Nearly 10 million users access apps created on the Mendix low-code platform every week.
- More than 120,000 applications were built using the Mendix platform in just the first eight months of 2020.
- The "Mendix Maker" community — a loyal base of developers who actively use the platform and support each other — has doubled this year to nearly 200,000 Mendix Makers.
"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.
A Platform for the Times and for the Future
The advantages of the Mendix platform came into sharp focus as the pandemic swept the globe this year. Enterprises that adopted Mendix were able to continue their digital initiatives and operations with a remote, distributed workforce without missing a beat. Governments built apps with Mendix to speed relief to citizens. Enterprises of every description rapidly responded to logistics challenges, stood up brand new channels for customer interaction, and pivoted their operations to adapt to the new normal. They did it with all hands on deck, with Mendix.
The Mendix enterprise low-code platform abstracts and automates the software development process, replacing traditional code with a drag-and-drop paradigm that enables application developers of every skill level — including non-technical domain experts — to actively participate in the development process or quickly make apps themselves. This collaborative approach accelerates the development cycle by a factor of 10x or more and results in solutions that effectively solve business challenges the first time, without costly re-work.
Concurrent with this news release, yesterday Mendix introduced the latest evolution of its platform, Mendix 9. The new release makes Mendix the first "all-in-one" low-code platform, extending into numerous adjacent domains, including data integration, intelligent automation, pre-packaged industry solutions, and advanced multiexperience development. Mendix Data Hub is revolutionizing the ease with which developers can harvest value from data assets in the same way low-code revolutionized software development — by making all of an enterprise's data resources discoverable, accessible, and actionable with drag-and-drop simplicity. Mendix 9 also propels Mendix's intelligent automation capabilities far past that of traditional BPM vendors by delivering design-time and runtime tooling for workflow creation; the resulting solutions can leverage the benefits of the entire platform, such as scalable, cloud-native architecture, connectors to a wide array of cloud services, and the ability to deliver rich experiences across devices natively.
Mendix Platform Extends Siemens' Xcelerator™ Portfolio
The Mendix platform extends the Xcelerator portfolio with the ability to build multiexperience apps and share data on any device, from any location, on any cloud and any platform, and more quickly realize the benefits of digital transformation.
"We have been encouraged by Mendix's successes and the enthusiastic response by our customers to the Mendix low-code platform in the two years following the acquisition, and Mendix is now at the core of the Siemens software cloud strategy," said Tony Hemmelgarn, president & CEO, Siemens Digital Industries Software. "The power of our Xcelerator portfolio is that it brings together our proven solutions in areas including Product Lifecycle Management, Manufacturing Operation Management, internet of things, and simulation, with Mendix's cloud-native architecture, so anyone can build, integrate, and extend core systems like Teamcenter, Opcenter and MindSphere using a common, modern low-code cloud architecture."
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About Mendix
Mendix, a Siemens business and the global leader in enterprise low-code, is fundamentally reinventing the way applications are built in the digital enterprise. With the Mendix platform, enterprises can 'Make with More,' by broadening an enterprise's development capability to conquer the software development bottleneck; 'Make it Smart,' by making apps with rich native experiences that are intelligent, proactive, and contextual; and 'Make at Scale,' to modernize core systems and build large app portfolios to keep pace with business growth. The Mendix platform is built to promote intense collaboration between business and IT teams and dramatically accelerate application development cycles, while maintaining the highest standards of security, quality, and governance — in short, to help enterprises confidently leap into their digital futures. Mendix's 'Go Make It' platform has been adopted by more than 4,000 leading companies around the world.
Note: A list of relevant Siemens trademarks can be found here.
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