OpenLegacy, a company that is a leader in microservices-based API integration for back-end applications, has raised $30 million in funding led by Silverhorn Investment Advisors. CommerzVentures, C. Entrepreneurs, Leumi Partners, O.G. Tech Ventures, Prytek-GFS Group, and RDC participated in this round as well.
“This high quality, broad-based group of financial and strategic investors validates our market approach,” said OpenLegacy’s CFO and COO Ron Rabinowitz. “This funding strongly supports our worldwide expansion and will enable OpenLegacy’s platform to increase its market share in the Forbes Global 2000.”
With this round of funding, OpenLegacy will further strengthen its market position. OpenLegacy benefits companies with complex legacy environments and helps organizations quickly launch digital innovations by automation and standardizing the process of creating digital services using microservices-based APIs.
Through OpenLegacy, legacy systems can be integrated and extended in a lot less time compared to other solutions without changing the underlying systems. Jacky Abitbol, a partner at Cathay Innovation — which is the venture capital fund managing C. Entrepreneurs — said that OpenLegacy’s unique solution could potentially become the new standard of the industry.
“We have a clear perspective on OpenLegacy’s advantages,” added CommerzVentures Managing Director Patrick Meisberger. “We understand the size of the potential market because we can see first-hand the challenges of adopting new technologies in legacy environments. OpenLegacy helps with a variety of use cases, from creating APIs quickly for any backend system all the way to a full, phased cloud migration.”
Founded by Romi Stein (CEO) and Roi Mor (CTO), OpenLegacy is a flagship company of “The Floor,” which is an innovation platform set in partnership with HSBC, Santander, RBS, Intesa SanPaolo, Deutsche Bank, SMBC, Intel, and Accenture.