Mendix — Funding & Company Data
Financial overview and investor data for Mendix.
Founded
2005
Stage
Acquired
Total Raised
$38M
HQ
Boston, Massachusetts
Team
1000+
Model
sales-led
Acquired
Mendix was acquired by Siemens on August 1, 2018 .
Analyst Take
Mendix's funding history is a classic venture-backed success story culminating in a strategic acquisition. The company raised two significant rounds, a $13M Series A in 2011 and a $25M Series B in 2014, from reputable investors like Battery Ventures. This funding allowed Mendix to establish itself as a leader in the burgeoning low-code market.
The acquisition by Siemens in 2018 for $730 million (€600 million) was a pivotal moment, shifting its financial foundation from venture capital to corporate ownership. This move effectively ended any concerns about runway or future funding rounds. Instead, Mendix became a key part of Siemens' Digital Industries software portfolio, tasked with accelerating cloud, IoT, and digital enterprise services.
For users, this means Mendix is not a typical startup. Its stability is now tied to the strategic importance Siemens places on it. Siemens has continued to invest in Mendix's R&D and global expansion, integrating it with other core products like the MindSphere IoT platform. The financial risk of the company disappearing is extremely low; the primary risk shifts to potential strategic changes, pricing adjustments, or platform reprioritization dictated by its parent company, a massive industrial entity.
Stability
As a subsidiary of Siemens, Mendix's financial stability is exceptionally high. The company is backed by a global industrial powerhouse, virtually eliminating the risk of it shutting down due to a lack of funding.
Growth
Mendix continues to grow within Siemens, expanding its platform capabilities and global footprint. Siemens appears committed to investing in Mendix as a core component of its digital strategy, suggesting a stable to high-growth trajectory.
For Buyers
For a potential buyer, committing to Mendix is low-risk from a company longevity standpoint. The primary consideration is the long-term strategic alignment with Siemens' vision, as future product direction and pricing will be influenced by the parent company's broader goals.
Funding Timeline
Investors: Battery Ventures, Prime Ventures, henQ
Investors: henQ, Prime Ventures