Moderne Raises $15M Series A Round


Moderne Series A

Moderne, the continuous software modernization company, is moving quickly to address the unmet market need of automating code migration and remediation for large, complex software systems. Moderne announced $15 million in Series A funding led by Intel Capital, with True Ventures, Mango Capital, and Allstate Strategic Ventures also participating. By joining the board of directors, Nick Washburn, Senior Managing Director at Intel Capital, will help accelerate the company’s growth.

According to Nick Washburn, the volume, variety, and speed of code production are rapidly increasing, making code automation increasingly important. He notes that maintaining software and ensuring its security has become a challenge, and the solution to this is through software refactoring and migration.

Nick Washburn believes that Moderne automates these processes, giving developers the opportunity to focus on building new solutions rather than being bogged down by the tedious task of maintaining old code. By empowering developers through automation, Moderne is helping to meet the demands of a rapidly changing software landscape.

Continuous software modernization is a new type of software development tool that automates code migration and fixes across an organization’s entire software system—the entire codebase, including all dependencies. It addresses the issue of increasing proportions of development effort going to software maintenance, which stifles innovation and business growth.

Moderne’s private SaaS solution, unlike code scan and search tools, identifies code issues with high precision across 1000s of repositories simultaneously and accurately fixes the code for developers, freeing up hours of developer time per week. Moderne accomplishes this by delivering the full fidelity of codebase knowledge required for accurate, automated code fixes via an innovative Lossless Semantic Tree, a technological leap from the common Abstract Syntax Tree.

Code modernization work that would normally take months of manual effort can now be automated and completed in minutes with a pull request. As a result, small-medium businesses and large enterprises, including newly announced customers Allstate and Choice Hotels, save time and money, allowing them to create more value for their companies.

Jonathan Schneider, CEO and Co-Founder of Moderne, states that the platform is guided by a key metric: the number of commits made back to source code repositories. According to Schneider, if a company uses a SAST, security scanner, or code search tool, they should consider using Moderne.

He explains that while these tools may produce reports, hope is not a course of action. With Moderne, the platform actually takes action to fix the code, providing real value to developers by improving their daily work and increasing software development velocity. By focusing on commits made to the source code, Moderne is delivering tangible benefits to the software development process.

Choice Hotels places a high value on the Moderne solution for keeping the company’s codebase secure. “We are more secure because we keep our software modernized,” said Jason Simpson, Vice President of Engineering at Choice Hotels. “Moderne has an in-depth search that allows our code to be secure by detecting and repairing vulnerabilities in our repositories.”

Tarik Galijasevic, Vice President and Managing Director of Allstate Strategic Ventures, emphasizes the importance of continuous software updates in protecting data and businesses. He states that Allstate Strategic Ventures invested in Moderne because they are confident that the software will help them improve their technology and provide a better experience to their customers. Galijasevic believes that by investing in Moderne, they are taking a step towards ensuring the security and success of their technology and business.

Moderne will be able to grow and nurture its customer base, as well as expand its technology offering, thanks to the Series A funding, which brings the company’s total funding to $20 million. The Java ecosystem, the most widely used programming language, has proven the Moderne value proposition of continuous software modernization.

Moderne is adding support for new languages such as COBOL, as well as upcoming Python, TypeScript, and C#. Furthermore, Moderne will add new features such as change campaign management, a recommendation service, a command line interface (CLI) to drive the local developer experience, and integrations with continuous integration (CI) tools, integrated development environments (IDEs), and other ecosystem tools.

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