Cloud-Based Digital Banking Company Alkami Technology Raises $55 Million

By Noah Long ● June 12, 2019
  • Plano, Texas-based digital banking solutions company Alkami Technology has closed $55 million in Series E of funding
  • General Atlantic led the round along with MissionOG

Alkami Technology, a Plano, Texas-based provider of cloud-based digital banking solutions announced an initial closing of a $55 million Series E round of funding.

General Atlantic led the round along with MissionOG. And existing investors S3 Ventures and Argonaut Private Equity joined the round as well. Including this round of funding, Alkami has raised over $225 million.

“In a few months, we will celebrate our tenth anniversary. We are very honored and excited about the support of our existing investors evidenced again by this round. Their long-term commitment and support has allowed us to continue to boldly invest in innovation, people, and best-in-class service. They remain one of Alkami’s most potent sources of strength and results,” said Alkami director and CEO Michael Hansen. “Our remarkable clients are another potent source of strength outperforming the market on key engagement, growth and profitability dimensions by a significant margin. Together we are creating and delivering winning digital solutions to our clients’ customers, members and businesses essential in today’s digital age.”

What does Alkami do? It is the digital banking platform of choice for over 130 financial institutions across the U.S. and the company’s clients have more than 6 million registered users on the platform.

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The Alkami Platform enables clients to personalize the digital banking experience for their consumers and businesses. And it also builds a thriving and engaged digital community in a digital-first banking world.

“Alkami continues to experience incredible growth as a leader in the large and growing digital banking market. We believe Alkami will continue to drive the industry forward with new innovations in user experience, product features, platform architecture, and data security,” added General Atlantic VP and Alkami Director Raph Osnoss. “We are proud to continue our strong partnership with Alkami and its talented executive team.”

Alkami is considered a first mover to the cloud enabling clients to quickly deliver innovative new features. And Alkami clients’ mobile banking apps have been receiving solid rankings on the Apple App Store and Google Play.