Mendix Maintains Growth Momentum, Increasing Bookings by 75% in FY 2020
- Pandemic-triggered need for rapid digitalization helps Mendix eclipse previous growth records
- Company will pursue strategic new initiatives, including the Mendix Marketplace, to propel 2021 growth
BOSTON, Dec. 17, 2020 /PRNewswire/ -- Mendix, a Siemens business and global leader in low-code application development for the enterprise, has released key financial performance metrics for its 2020 fiscal year, which ended on Sept. 30. The company passed the US$100 million milestone for total bookings early in its fiscal year and ended the year posting strong, 75% year-over-year bookings growth. In a year dominated by the pandemic, the Mendix platform proved to be a crucial technology for enterprises scrambling to adapt to remote work and the need to rapidly stand up digital interaction channels for customers and constituents.
The City of San Antonio, Texas, for example, in just two weeks deployed a Mendix-built app to speed funds to citizens in need of housing assistance. Alaska Maritime Physicians developed a brand-new app, KelvinCARE, to monitor and protect the state's fishing and offshore oil workforces from COVID-19 outbreaks and safeguard these multibillion-dollar industries.
Mendix customers demonstrated their satisfaction with the platform by renewing their licenses at a cloud category-leading rate of 96%. And nearly 200 major new customers embraced the Mendix low-code platform, including blue chip brands such as Toyota, Texas Instruments, Chevron, Rolls-Royce, and Johnson & Johnson.
Customers enthusiastically embrace Mendix low-code platform
The 96% renewal rate speaks volumes about customer satisfaction with the Mendix platform. But it's only part of the story. Customers are not just renewing their commitment to the platform; they're expanding it.
"When we have customers re-upping with seven-figure revenue expansions, it tells us that we're delivering significant value to our customers and matching the projected value commitments we have given them," said Derek Roos, Mendix co-founder and CEO.
eXp Realty is a customer that has gone all-in with Mendix and continues to build its success on the platform. The firm was conceived and continues as a cloud-based, 100% virtual enterprise – it has no physical offices, and yet supports millions of brokers selling millions and millions of homes every year. As it embarked on its exponential growth trajectory, eXp made the strategic decision to re-platform all of its applications with Mendix, including agent onboarding, property listings and transactions, agent compensation, and even financial reporting. With Mendix-built apps driving its operations, eXp has grown to become one of the top five U.S. realty firms – a company that experts now call "the Amazon of real estate."
The company leverages the strength of Siemens Digital Industries Software
Mendix is a part of Siemens Digital Industries Software, which brings significant resources to Mendix. Siemens' global footprint eases and accelerates Mendix's entry into new markets, with a focus in FY2020 on supporting Mendix's expansion into the Asia-Pacific region. The Siemens team, customers, and contacts in the region are paving the way for Mendix to become the dominant low-code player there.
Mendix is closely integrated with MindSphere®, the leading industrial IoT-as-a-service solution from Siemens, and is also an integral part of Siemens' Xcelerator™ portfolio of software and services. As the core of the Siemens cloud strategy, Mendix has become the leading low-code platform in the industrial, manufacturing, and process industries. Mendix leads the way by focusing all the advantages of low-code for industrial IoT, AI and edge computing applications.
"Moving forward we'll further leverage Siemens' position as the leading industrial software company to introduce the power of low-code to companies in industrial markets," Roos continued. "Siemens will also help accelerate our growth in non-industrial segments including banking, insurance, and professional services. The expertise and resources of Siemens are extremely valuable to Mendix and every one of our customers benefits from this, regardless of their sector."
Looking forward: All-in-one low-code and the Mendix Marketplace
With its latest platform release, Mendix is now the industry's first "all-in-one" low-code platform, expanding the domains that benefit from Mendix's strategy of abstraction and automation. New and expanded capabilities empower users to easily access data from across their enterprise with Data Hub; leverage expanded AI tools to improve application quality; compose "intelligent automation" applications quickly; and build multiexperience solutions that flow seamlessly across a full spectrum of devices and touchpoints – all delivered on a flexible, cloud-native architecture.
These innovations have earned widespread recognition this year. Gartner analysts positioned Mendix as the visionary leader in its Enterprise Low-Code Application Platforms Magic Quadrant for the second year in a row, positioning Mendix furthest in the visionary quadrant of all 18 low-code platforms it evaluated. Gartner also positioned Mendix as a leader for vision and ability to execute in the Gartner Magic Quadrant for Multiexperience Development Platforms – again, for the second year in a row.
Recognizing the tremendous need for rapid digitalization in industries such as financial services and insurance, and for functionality such as field services that is relevant across industries, Mendix is developing packaged, low-code industry solutions that deliver sophisticated functionality; seamlessly integrate with core systems; and are easily customized to the needs of individual enterprises. These solutions will be offered in the new Mendix Marketplace.
The Mendix Marketplace is designed to fuel the low-code ecosystem with resources for developers and applications at every level; it's like the Apple App Store for low-code enterprise software. It will offer application components, templates, packaged functionality, and fully baked solutions from Mendix community members, partners, ISVs, and Mendix itself. That will give developers an easy means to monetize their work and to find and purchase the resources they need to bring their innovative app ideas to life.
"Our fiscal year results set a high performance bar for us to beat," said Roos. "But with so much wind in our sails – our expanded all-in-one platform capabilities; a growing, highly qualified, enthusiastic team; the Marketplace ecosystem; a phenomenal partner network; new inroads in the Asia-Pacific region and as part of Siemens – we are well-positioned to maintain our strong growth trajectory."
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Background
In a pandemic-disrupted world, software is the new lifeblood of our daily lives and the connective tissue holding together the global economy. However, traditional software development takes far too long and very often fails to deliver the results business needs and users love. Even prior to COVID-19 there were simply not enough professional software developers in the world to build all the software currently required. The global pandemic has accelerated and exacerbated what was already a software and business crisis. Enter low-code software development. Low-code from Mendix is a powerful enterprise-grade visual development approach empowering citizen and professional developers to make cloud-native applications more than 10X faster for web and mobile using drag-and-drop components and model-driven logic – all through an intuitive graphical user interface.
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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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