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Mendix Reported Triple Digit Growth for 2011

By Madhubanti Rudra
TMCnet Contributor

Mendix, a company specializing in the application Platform-as-a-Service (PaaS) market, reported triple-digit growth for 2011. According to Mendix, 2011 has been the company’s biggest growth year to date. The company attributed the achievement to international expansion and a surge in the demand for faster and easier business application delivery.

A press release revealed that Mendix fared well in both the US and EU markets. New license sales grew by more than 400 percent, thanks to a rapidly expanding partner network. The company secured new venture capital and introduced new line of products.

Mendix is known for its Platform-as-a Service tool, called Mendics Agile (News - Alert) Business Platform, which helps the companies to rapidly deploy new business apps in response to changing business needs. The platform allows the teams to plan, develop, deploy and manage custom applications that can be integrated with the existing system. Because of the platform’s flexibility, Mendix’s apps can be deployed in the cloud, locally or through smartphones and tablets.

2011 witnessed the launch of Mendix 3.0. The new version makes a complete and integrated Platform-as-a-Service solution, Mendics maintained. The new edition of Mendix platform will help to easily design, develop, deploy, integrate, share and manage business applications, Mendix explained.

In addition, Mendix released Sprintr.com, a free social project collaboration space, as well as an enterprise Cloud Portal, for governing deployments centrally and monitoring Mendix Apps in the Cloud.

Also, Mendix recently secured $13 million funding. The series A funding round was led by Prime Ventures. The company officials revealed that the new capital will be used to continue global expansion and maintain product leadership.

To support this rapid expansion, Mendix reportedly expanded its executive team at the company’s new global headquarters in Boston’s Innovation District.

“Our growth is closely tied to Mendix’s ability to address the needs of businesses looking to deliver applications faster and easier. We have set very aggressive goals for 2012, with a particular focus on international expansion, as well as R&D to continue to deliver market-defining innovations. We are planning some exciting releases that I believe will further strengthen our leadership position in this space,” CEO of Mendix Derek Roos stated while commenting on the company’s success.

Mendix’ other achievements include the recognition from Gartner (News - Alert). The company was recognized in three separate Gartner reports. The reports were: 1) IT Market Clock for Application Development, 2011; 2) Hype Cycle for Application Architecture, 2011; and 3) Hype Cycle for Application Development, 2011.