CoreStory, a pioneer in AI-powered code intelligence, has raised $32 million in a Series A round led by Tribeca Venture Partners, NEA, and SineWave Ventures, with additional participation from Harrison Metal, Singtel Innov8, Samsung Next, Nimble Partners, and Alumni Ventures. The funding will accelerate CoreStory’s efforts to modernize the world’s aging software infrastructure by leveraging agentic AI to transform legacy code into maintainable, machine-readable assets.
CoreStory is tackling one of enterprise technology’s most significant and persistent challenges — modernizing the trillions of lines of legacy code that power essential systems across sectors like banking, healthcare, aviation, and defense. Most of this code is undocumented and difficult to modify, creating significant risks and costs for organizations. As AI-generated code adds billions of new lines each month, enterprises face growing pressure to manage both old and newly developed software efficiently and securely.
CoreStory’s Code-to-Spec platform leverages agentic AI to extract business logic and architecture from outdated applications, automatically generating specifications that help teams modernize code safely. Enterprises using the platform report up to 50% reductions in human development time, transforming modernization into a measurable and ROI-positive process.
Research conducted with Microsoft found that CoreStory’s structured specifications improve the accuracy of AI software engineering agents by 51%, shortening modernization timelines and reducing risk. The company’s approach to Specification-Driven Development (SDD) aligns business intent with technical execution by creating living, machine-readable documentation for both legacy and AI-generated codebases.
How the funding will be used: The funding will support product expansion, customer delivery, and continued AI model development to help enterprises safely modernize mission-critical systems.
KEY QUOTES:
“Every time you swipe a card or make a claim, you’re depending on software written decades ago that few people understand. CoreStory’s agentic AI reads, maps, and documents that code, turning it into living specifications that make modernization safe and measurable. Our mission is to make the world’s software infrastructure understandable again — and future-proof for the AI era.”
Anand Kulkarni, Chief Executive Officer, CoreStory
“CoreStory is redefining how enterprises understand and manage their software estates. By converting legacy code into structured, living specifications, CoreStory bridges the gap between decades of accumulated complexity and the new era of AI-assisted development.”
Aaron Jacobsen, Partner, NEA
