OpenLegacy has closed a funding round of $30 million, led by Silverhorn Investment Advisors and joined by CommerzVentures, C. Entrepreneurs, Leumi Partners; O.G. Tech Ventures, Prytek-GFS Group and RDC.
The microservices-based API integration provider’s chief financial and operations officer Ron Rabinowitz explained that the funding will support worldwide expansion and enables the platform to increase its market share.
OpenLegacy is designed for organisations with complex legacy environments, helping them quickly launch digital innovations by automating and standardising the process of creating digital services using APIs.
Patrick Meisberger, managing director at CommerzVentures, commented: “We understand the size of the potential market because we can see first-hand the challenges of adopting new technologies in legacy environments; OpenLegacy helps with a variety of use cases, from creating APIs quickly for any backend system all the way to a full, phased cloud migration.”
OpenLegacy was founded by chief executive Romi Stein and chief technology officer Roi Mor, who’s many years of experience at companies like IBM and Software AG resulted in an understanding of the digital transformation issues faced by large enterprises.
The company is part of The Floor, a global innovation platform in partnership with banks such as HSBC, Santander, RBS, Intesa SanPaolo, Deutsche Bank and SMBC, alongside Intel and Accenture.
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