Progress Software Corporation

What Progress Software Corporation does

Progress Software Corporation is a publicly traded (NASDAQ: PRGS), 45-year-old enterprise software company headquartered in Burlington, Massachusetts, that builds AI-powered infrastructure across application development, data management, digital experience, and IT operations. The portfolio is organized into four technology categories: Trusted AI & Data (Progress Data Platform, Agentic RAG, MarkLogic, Semaphore, DataDirect, Corticon), Digital Experience (Sitefinity CMS, Telerik, Kendo UI, ShareFile, Podio, MOVEit), Infrastructure Management (Chef, WhatsUp Gold, Flowmon, Kemp LoadMaster), and AI-Enhanced UI Tools (Telerik, Kendo UI, Fiddler, Test Studio). Its product footprint is heavily shaped by acquisition, having integrated MarkLogic (NoSQL/semantic data, $355M, February 2023), ShareFile (document collaboration, $875M, October 2024) and Nuclia (RAG-as-a-Service, ~$50M, June 2025) into a unified platform. Approximately 80% of Fortune 500 companies use Progress products, with 200,000+ customers globally and a stated 100% retention rate.

The company's technology stack centers on a SaaS Retrieval-Augmented Generation platform, Progress Agentic RAG, which ingests more than 60 unstructured data formats into a governed enterprise knowledge layer and is LLM-agnostic across OpenAI, Azure OpenAI, Anthropic Claude and Google Gemini. Agentic RAG powers the Sitefinity Generative CMS for hyper-personalized digital experiences, drives AI coding assistants and an Agentic UI Generator inside Telerik/Kendo UI, and underpins Flowmon's AI-based network anomaly detection. The platform is sold both directly and via the AWS Marketplace, is SOC 2 Type II and ISO 27001 certified, and includes a proprietary REMi evaluation model for continuous RAG quality monitoring.

Progress operates a hybrid go-to-market combining direct enterprise sales, a 3,500+ partner network spanning 27+ countries, AWS Marketplace listings, and self-serve channels for developer tools. Revenue is generated through subscription/SaaS arrangements (including Agentic RAG from $700/month), traditional on-premise perpetual and term licenses (MarkLogic, OpenEdge, MOVEit, WhatsUp Gold, Flowmon, LoadMaster, Corticon, Chef), and professional services. FY2025 revenue reached $977.8M (+20.8% YoY), with ARR of $852M at 100% net retention and 85% gross margins; FY2026 guidance is $986M-$1B and analyst projections point toward $1B by 2029. Backed by a 740+ employee India Global Capability Centre, regional offices in Germany, France, Japan, the UK and Bulgaria, and a recently announced Costa Rica expansion, the company is repositioning around AI as the unifying layer across its four legacy product pillars.

Name

Progress Software Corporation

Legal name

Progress Software Corporation

Website

https://progress.com

Company type

Public

Founded year

1981

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Progress Software Corporation (NASDAQ: PRGS) is a 45-year-old Burlington, MA-based enterprise software company selling AI-powered application development, data management, digital experience and infrastructure products to 200,000+ customers, including 80% of the Fortune 500, with FY2025 revenue of $977.8M.

Ownership category

akta.pro rank

Product category

Enterprise Application Development and Data Management Software

NAICS

Software Publishers (513210), Custom Computer Programming Services (541511), Computer Systems Design and Related Services (54151)

SIC

Services-Prepackaged Software (7372), Services-Computer Programming, Data Processing, Etc. (7370), Services-Computer Integrated Systems Design (7373)

akta.pro primary industry

End-to-End Enterprise AI Platforms (MLOps & Model Lifecycle Management) (HDAEANAA)

akta.pro secondary industries

AI Application Enablement Platforms (Copilot/Agent Frameworks, SDKs) (HDAEANAJ), Enterprise AI Data & Knowledge Platforms (Vector Databases, Knowledge Graphs) (HDAEANAH), AI/ML Engineering & Model Development Services (BPAEAHAF)

Keywords

• Enterprise software platform
• Digital experience platform
• Application development tools
• Managed file transfer
• Data integration software

Headquarters

HQ city

Bedford

HQ country

United States

HQ region

North America

Offices8 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Subscription/SaaS Revenue: The company operates primarily on a subscription model with recurring annual recurring revenue. Q4 FY2025 ARR was $852 million with 100% net retention rate. Revenue from SaaS offerings including Agentic RAG, cloud-based ShareFile, and hosted Sitefinity services
2. Product Licenses: Traditional software licenses for on-premise products including MarkLogic, OpenEdge, Telerik, MOVEit, WhatsUp Gold, and other infrastructure management tools sold with perpetual or term-based licensing
3. Agentic RAG SaaS: Cloud-based RAG-as-a-Service platform with pricing starting at $700 per month, available through AWS Marketplace and direct sales
4. Professional Services: Implementation, training, and consulting services supporting product deployments and customer success

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Progress Software Corporation develops and sells AI-powered enterprise software across four product pillars: Trusted AI & Data (Data Platform, Agentic RAG, MarkLogic, Semaphore, DataDirect, Corticon), Digital Experience (Sitefinity CMS, Telerik, Kendo UI, ShareFile, MOVEit, Podio), Infrastructure Management (Chef, WhatsUp Gold, Flowmon, Kemp LoadMaster), and AI-Enhanced UI Tools (Fiddler, Test Studio, ThemeBuilder). Products are sold via subscription/SaaS and perpetual licensing to enterprise customers, with AI-driven retrieval-augmented generation, digital experience management, secure file transfer, network monitoring, and developer productivity tools forming the core revenue drivers.

Product overview

Progress Software Corporation is a software company offering a multi-product portfolio organized into four technology categories: Trusted AI & Data (Data Platform, Agentic RAG, MarkLogic, Semaphore, DataDirect, Corticon), Digital Experience (Sitefinity, Telerik, Kendo UI, ShareFile, Podio, MOVEit, WS_FTP), Infrastructure Management (Chef, WhatsUp Gold, Flowmon, Kemp LoadMaster), and AI-Enhanced UI Tools (Telerik, Kendo UI, Fiddler, Test Studio). The company's AI strategy centers on its Agentic RAG platform, which provides retrieval-augmented generation capabilities, and Sitefinity Generative CMS with native RAG integration for enterprise digital experiences. The Data Platform (anchored by MarkLogic) handles complex data management, while the Digital Experience portfolio spans content management (Sitefinity), developer tooling (Telerik/Kendo UI), document collaboration (ShareFile), and secure file transfer (MOVEit, Automate MFT, WS_FTP). Infrastructure Management products cover DevOps automation (Chef), network monitoring (WhatsUp Gold), network security analytics (Flowmon), and load balancing (Kemp LoadMaster).

Differentiator

Problem solved

Functional benefit

Brands

• Telerik: .NET tools for .NET developers including UI controls, reporting and developer productivity tools
• Kendo UI
• Sitefinity
• ShareFile
• MOVEit
• MarkLogic
• Agentic RAG
• OpenEdge
• Chef
• WhatsUp Gold
• Flowmon
• Corticon
• DataDirect

Products and services

• Sitefinity A digital experience platform (DXP) and content management system (CMS) that enables organizations to create and analyze successful online experiences on-premise or in the cloud. Recognized by Forrester as a leading DXP vendor.
• Progress Agentic RAG A next-generation Agentic RAG-as-a-Service platform offering fast, flexible, and modular retrieval functionality to AI agents from a wide variety of unstructured data formats, transforming scattered enterprise content into instant, trusted, source-cited answers.
• MarkLogic An enterprise-grade NoSQL and semantic metadata data platform that simplifies complex data challenges, unlocks value, and achieves data agility, serving as the foundation for operational data hubs handling both structured and unstructured data.
• Telerik .NET UI controls, reporting, and developer productivity tools for .NET developers as part of the DevCraft collection, including AI coding assistants, AI Theme Generation, and the Agentic UI Generator.
• Kendo UI JavaScript and HTML5 UI widgets for responsive web and data visualization, part of the DevCraft collection, with AI coding assistants and AI theme generation.
• OpenEdge A high-performance, highly-available application development platform and programming language for building enterprise applications in an integrated development environment, including an MCP Server integration for AI agent interaction.
• ShareFile A secure document collaboration and file sharing platform that enables organizations to share, store, and collaborate on documents internally and externally, with eIDAS-compliant electronic signatures for UK and EU customers.
• MOVEit A managed file transfer (MFT) solution that transfers data securely, assures compliance, automates transfers, and controls user access, with MOVEit Automation, MOVEit Transfer, MOVEit Cloud, and MOVEit WAF in the product suite.
• Automate MFT A SaaS platform for secure file transfer automation designed to reduce manual processes and infrastructure costs, with no-code workflow building, shared credential libraries, task versioning, and compliance support offering up to 50% cost savings.
• Chef A DevOps platform for configuring, deploying, and managing application infrastructure in a secure and compliant way, including Chef Infra, Chef Automate, Chef Compliance, Chef Desktop, and Chef Opsmith.
• WhatsUp Gold A network monitoring solution that finds and fixes network problems fast by monitoring physical, virtual, cloud, and application infrastructure.
• Flowmon An AI-powered Network Detection and Response (NDR) platform providing comprehensive network and security visibility, analysis, and automated response, with Flowmon ADS offering anomaly detection and behavioral analysis.
• Kemp LoadMaster An experience-centric application delivery controller and load balancer providing cloud-native, virtual, and hardware load balancers with flexible consumption options.
• DataDirect Pre-built cloud and on-premise data connectivity solutions across Relational, NoSQL, Big Data, and SaaS data sources, enabling enterprise-grade data integration trusted by 350+ ISVs and 10,000+ enterprises.
• Semaphore A no-code metadata engine that creates and manages metadata and transforms information into meaningful, actionable intelligence for enterprise data governance.
• Corticon A business rules engine that automates business processes with rules designed for rigorous business and regulatory requirements.

Quantifiable outcome

• Reduced accessibility issues in ShareFile by more than 60% year-over-year since 2023
• +7 more outcomes

Named customers9 records

Segments8 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

AI capability14 records

Feature10 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• ApplausecoreTechnology or Integration · 25 June 2026Managed software testing services partnership where Applause helped Progress Software reduce accessibility issues in ShareFile platform by more than 60% year-over-year since 2023 through expert-led design reviews, assistive technology testing, AI-powered code evaluations, and ongoing training. Delivered Voluntary Product Accessibility Template artifacts for compliance demonstration.
• The Bodhi Tree FoundationminorOthers · 14 April 2026CSR partnership in India involving donation of electric wheelchairs as part of Progress Software's community engagement initiatives in the region.
• U.S. Department of Defense (Tradewinds Solutions Marketplace)coreStrategic or Co-development Partner · 29 October 2025Progress Federal Solutions deemed 'Awardable' vendor for DoD CDAO's Tradewinds Solutions Marketplace, enabling rapid deployment of Progress Data Platform integrating data management, semantic AI, and search capabilities for government use.
• U.S. Department of Defense Chief Digital and Artificial Intelligence OfficecoreStrategic or Co-development Partner · 29 October 2025Progress Federal Solutions provides Data Platform for defense and civilian agencies to enhance digital transformation and mission readiness through integrated data management and AI capabilities.
• NucliacoreStrategic or Co-development Partner · 30 June 2025Acquired Barcelona-based Nuclia (founded 2019) specializing in RAG-as-a-Service for vectorizing unstructured data to enable GenAI applications. Deal reportedly around $50 million. Extends Progress Data Platform capabilities with advanced agentic RAG technology.
• Cloud Software Group Inc. (ShareFile acquisition)coreOthers · 20 September 2024Progress acquired ShareFile business unit from Cloud Software Group Inc. in September/October 2024 for $875 million to strengthen secure file sharing and collaboration offerings.
• MarkLogic Corporation (acquisition)coreOthers · 1 February 2023Progress Software acquired MarkLogic Corporation for $355 million in February 2023 to strengthen its enterprise-grade data platform capabilities and NoSQL/semantic metadata offerings.

Scale indicators10 records

Recent moves8 records

Expansion highlights7 records

Direct peers

• MongoDB: MongoDB Atlas is a leading enterprise NoSQL document database that directly competes with Progress MarkLogic in the operational data hub and enterprise data platform market, serving similar data management and AI-readiness use cases.
• Elastic: Elastic's Elasticsearch and vector database capabilities directly overlap with Progress Agentic RAG and MarkLogic semantic search, offering enterprise search, knowledge retrieval, and GenAI grounding for similar AI-readiness use cases.
• Sitecore: Sitecore is a pure-play DXP competitor to Progress Sitefinity, offering content management, personalization, and digital experience orchestration to enterprise customers in the same mid-market and large-enterprise segment.
• SolarWinds: SolarWinds is a direct competitor to Progress WhatsUp Gold in network and infrastructure monitoring, serving similar IT operations personas with comparable on-premise and SaaS monitoring capabilities.
• Box: Box is the primary cloud-native competitor to Progress ShareFile in secure document collaboration and file sharing, targeting enterprise customers with similar content workflow and compliance use cases.

Broad incumbents

• Adobe: Adobe Experience Manager is the dominant digital experience platform competing with Progress Sitefinity, and Adobe's broader GenStudio and Firefly products overlap with Progress's Sitefinity Generative CMS and Agentic RAG offerings.
• IBM: IBM competes across multiple Progress franchises: Sterling/Aspera in MFT vs MOVEit, watsonx in enterprise AI vs Agentic RAG, and Db2/Informix in data platforms vs MarkLogic. IBM is the broad incumbent in enterprise infrastructure and AI.
• Datadog: Datadog is a broad cloud-native monitoring and security platform that competes with Progress WhatsUp Gold and Flowmon for infrastructure, network, and security observability spend in modern enterprise environments.
• Progress competitors in application delivery (Kemp LoadMaster vs F5): F5 Networks is the dominant incumbent in application delivery controllers and load balancing, competing directly with Progress Kemp LoadMaster for enterprise ADC and traffic management workloads.

Emerging players

• Pinecone: Pinecone is a leading managed vector database that competes directly with NucliaDB within the Progress Agentic RAG stack, serving AI engineering teams building retrieval-augmented generation applications.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/progresssw
• YouTubeyoutube.com/embed/MBiFz1exTBk
• LinkedInlinkedin.com/company/progress-software
• Facebookfacebook.com/progresssw

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Progress Software Corporation