CloudFrame, a Floor Princeton, NJ-based software company providing solutions to bridge the mainframe innovation gap through modernization of legacy technologies, raised an undisclosed amount in Series A funding.
The round was led by Eldridge, with participation from Henry Kravis and and individual members of New York Angels.
The company intends to use the funds to expand operations and its business reach.
Led by Venkat Pillay, Chief Executive Officer, CloudFrame frees mainframe applications from COBOL, giving customers automated ways to transform those applications into fully supportable into cloud-native Java applications that lower operating costs. In addition to products that modernize and transform COBOL applications, the company’s self-directed client support includes education and coaching resources, pre-migration sandbox builds, guaranteed functional and numeric precision, and full backwards compatibility to mainframe data sources, utilities, third-party products and processing components for as long as required. CloudFrame supports customers across the Capital Markets, Banking, Credit Card, Energy, and Telecom industries.
FinSMEs
23/03/2022