FlowX.ai, a New York-based startup that provides an application modernization platform for enterprise mission-critical applications, secured $35 million in a Series A funding round to further develop its application integration platform and expand its international presence.
Dawn Capital led the funding round, with participation from existing European investors, including PortfoLion, SeedBlink, and DayOne Capital.
FlowX.ai focuses on helping enterprises consolidate legacy and newer software into a single platform for building and running applications and services.
The startup collaborates with systems integrators, including IBM and KPMG, to connect with potential users. FlowX.ai aims to help large legacy players in the finance industry launch new services quickly, both internally and externally, to compete with emerging players such as neobanks.
Company: FLOWX.AI, Inc.
Raised: $35.0M
Round: Series A
Funding Month: May 2023
Lead Investors: Dawn Capital
Additional Investors: PortfoLion, SeedBlink, and DayOne Capital
Company Website: https://www.flowx.ai/
Software Category: AI-powered Enterprise Application Modernization
About the Company: FlowX.ai developed an artificial intelligence-enabled application modernization platform designed to enable enterprises to modernize their applications, systems, and infrastructure. The company's platform provides a life extension to the legacy stack and makes it possible to deploy modern omnichannel digital experiences that reuse existing systems and apps and then modernize and migrate smoothly, enabling organizations to drive revenue growth and information technology and business operational expenditure savings. FlowX.ai primarily serves enterprises in the financial sector, with customers such as BNP Paribas, OTP, Banca Transilvania, and Alpha Bank.
Source: https://techcrunch.com/2023/05/22/romanias-flowx-ai-raises-35m-for-its-ai-based-approach-to-application-integration/