November 2011 - Mendix (www.mendix.com), a leader in the PaaS market, announced the closing of a $13 Million round of financing. The round was led by European venture firm Prime Ventures, with HENQ Invest following on its earlier seed investment. The investment will support Mendix' international expansion and fuel its global sales efforts both direct and through a growing network of partners.
Mendix is a leading Agile Business Platform Provider, serving enterprise clients requiring flexible high-end custom applications that extend existing IT systems. Launched in Rotterdam in 2007, the company is growing at fast pace and has established presence in the US, the UK and South Africa. It counts 85 employees and has experienced consistent triple digit growth year over year.
Prime Ventures is a leading venture capital and growth equity firm focusing on investing in European companies in the technology and related industries and leverages its capital, experience and network to actively guide them into global category leaders. The firm has invested in companies in the Benelux countries, United Kingdom, France, Finland and Sweden. From its offices in The Netherlands and the UK, the independent partnership manages over 275 million euro in committed capital.
HENQ Invest is a venture capital firm based in the Netherlands, providing professional support for early stage technology companies / entrepreneurs, predominantly in ICT / New Media / Mobile / Software sectors.
"To date we have always organically achieved triple-digit growth on the results of delivering business value and solving real pain-points for our clients," says Derek Roos, CEO of Mendix. "Our customers are looking to increase their business agility and turn to Mendix to jump-start their productivity and app deployment. The partnership with Prime comes at the right time for us to accelerate our abilities to meet this demand and act quickly in sales, marketing and product innovation."
LD&A and Sandrine Vergnory-Mion, Head of Software Practice comment: "Mendix is a revolution in the business apps development world, enabling ever faster, more efficient changes in company systems and processes. Mendix is a rare editor who successfully implemented its radical transition from perpetual licensing to SaaS, while at the same time building an international indirect channel."
