VC firms sell Mendix to Siemens for €600m

Mendix has raised $38m in equity funding since it was founded in 2005, from VC firms including Henq Ventures, Prime Ventures and Battery Ventures.

Siemens has simultaneously announced a multi-year investment plan for the business to accelerate research and development.
Mendix will be added to Siemens' Internet-of-Things technology portfolio, MindSphere.

Previous funding
Henq first backed Mendix in 2006, investing in a seed round with an undisclosed valuation. The VC firm was joined by Prime to inject a further $13m into the company' series-A round in 2011.

Battery Ventures led a $25m series-B for Mendix in January 2014 with participation from Prime.

Company
Mendix is a spinout from the Technical University of Delft and Erasmus University Rotterdam, active in the platform-as-service market. The company's core product is Mendix Agile Business Platform, which was launched in 2007. The platform is a business support tool that integrates application development tools for enterprise software. The company employs more than 400 people.

People
Siemens – Klaus Helmrich (member of managing board).
Mendix – Derek Roos (founder).

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