Moderne Raises $15 Million in Series A  

by Kay Aloha Villamor in February 8th, 2023

Moderne, a San Francisco, CA-based continuous software modernization company, raised $15 million in Series A funding, bringing its total funding to $20 million.

The round was led by Intel Capital, with participation from True Ventures, Mango Capital, and Allstate Strategic Ventures. 

The investment will allow Moderne to grow and nurture its customer base and build on its technology offering. 

The company is moving swiftly to address the unmet market need of automating code migration and remediation for large, composed software systems that are continually evolving and growing in complexity. 

Moderne’s private SaaS solution identifies code issues with high precision across 1000s of repositories simultaneously and accurately fixes the code for developers, unloading hours of developer time per week.

Moderne achieves this using an innovative Lossless Semantic Tree, a technology leap from the common Abstract Syntax Tree, to deliver the full fidelity of codebase knowledge required for accurate, automated code fixes.

“Moderne is driven by a north star metric of commits made back to your source code repositories,” said Jonathan Schneider, CEO and co-founder of Moderne. “If you have a SAST, security scanner, or code search tool you should consider Moderne. These existing tools produce reports in the hope that somebody will take action. Hope isn’t a course of action. By actually taking action to fix the code, the Moderne platform is bringing real value to improving developers’ day-to-day jobs and increasing software development velocity.”

Nick Washburn, Senior Managing Director at Intel Capital, will help accelerate the company’s growth by joining its board of directors.

Company: Moderne, Inc.

Raised: $15.0M

Round: Series A

Funding Month: February 2023

Lead Investors: Intel Capital

Additional Investors: True Ventures, Mango Capital, and Allstate Strategic Ventures

Company Website:

Software Category: Continuous Software Modernization

About the Company: Founded by Jonathan Schneider and Olga Kundzich. Moderne provides code automation solutions for software development. Its mission is to solve the laborious and manual tasks of software development that suck the productivity out of developers and kill innovation. The company accelerates software development through continuous software modernization across an organization’s codebase, freeing developers to do what they love—create great software. The Moderne value proposition of continuous software modernization has been proven with the Java ecosystem, the most widely used programming language. Moderne is extending support for additional languages like the newly supported language, COBOL, and upcoming Python, TypeScript, and C#. In addition, Moderne will be introducing more capabilities 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 tools in the ecosystem.


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