Subscribe
Menu Icon
Refresh Miami Logo
Search Icon
Sign Up Sign In

Moderne raises $30M Series B to continue driving mass-scale code modernization

Nancy Dahlberg
Nancy Dahlberg
PinLinkedIn

By Nancy Dahlberg

Enterprises have huge amounts of source code under management that must be constantly maintained, updated and secured, and that just continues to grow. The proliferation of AI code assistants accelerates this issue. The problem for companies is how to manage all of that, says Jonathan Schneider, CEO and co-founder of Miami based startup Moderne.

 “Once you’ve got it in house, you have hundreds of millions of lines or billions of lines of code under management. So Moderne is doing large-scale application modernization, tech stack consolidation, moving from one cloud platform to another, one database to another, one language version to another, and doing so horizontally across the whole business,” explains Schneider, in an interview with Refresh Miami today.

Schneider says this Miami-based startup is the only company with a proven platform designed to analyze and transform large codebases efficiently and cost-effectively. The technology stems from the OpenRewrite open-source project Schneider developed at Netflix that has become the de facto standard for code migration and maintenance. “Moderne is already driving large-scale application modernization savings for our customers over and over again — and we’re only scratching the surface of what can be done,” said Schneider. 

To continue driving mass-scale code modernization and technical debt remediation, Moderne announced it has closed $30 million in Series B funding. The funding was  led by Acrew Capital, with participation from Morgan Stanley, Amex Ventures, TIAA Ventures, and previous investors Allstate, Intel Capital, Mango Capital and True Ventures. In total, Moderne has raised $50 million.  

“The challenge of addressing technical debt impacts nearly every company, but it’s mission-critical for enterprises managing massive, complex codebases,” said Mark Kraynak, Founding Partner at Acrew Capital, in a statement. “Moderne’s technology is purpose-built for this scale, plus it complements and improves this new generation of AI for code. Moderne has redefined what success in code modernization looks like — delivering proven results for some of the largest and most sophisticated enterprises.”

Moderne reports it grew its customer base by 250% in 2024, attracting many top tier Fortune 500 companies leading their verticals. These include Allstate, Choice Hotels, Walmart and top North American banks.

Stay ahead of Miami Tech

Join 16,000+ founders, investors, and tech professionals.

Check your inbox for a confirmation email.

Moderne, which relocated to Miami from Seattle in 2022 and raised $15 million in 2023, has grown to a team of 40 including language engineering and software development experts. While much of the team is remote, in Moderne’s Brickell office the company has added a VP of Sales and a Head of Finance, as well as a sales manager and sales reps. “It’s great to build here in the city,” said Schneider, who co-founded the company with Olga Kundzich. With their customers and teams straddling the Americas and Europe, being in the East Coast time zone is a huge benefit, the co-founders said.

 “We love it here. It’s a really vibrant city, lots of growth, lots of optimism,” Kundzich added. “We frequently host the Java user group and hopefully will host other meetups in our office as well. We have one happening tonight.”

What’s ahead for Moderne is to expand its capabilities to application security and make strategic investments in large-scale agentic AI experiences, as well as growing engineering, marketing and sales, Kundzich said. When you think of agentic code experiences right now, you might think of GitHub or Devon, or any of these AI code assistants, but these are all single repository experiences, Schneider added. “Moderne’s experience is for all the repositories you are not looking at right now. We’re really just focused on the sort of opposite side of this problem that almost every other company that’s raised hundreds of millions of dollars is looking at, and I think [the side of the problem] that has ultimately more business value associated with it.”

Moderne is hosting the Code Remix Summit in Miami May 12-14. “We have a fantastic lineup of industry leaders in software development coming down for that. It’s something we’re going to do annually here, and hoping for a good turnout,” Schneider said. While this is the first one, they hope to bring it to Miami annually. Find out more about the Code Remix Summit here.

Pictured at the top of this post: Moderne co-founders Jonathan Schneider and Olga Kundzich.

READ MORE IN REFRESH MIAMI:

Nancy Dahlberg
Latest posts by Nancy Dahlberg (see all)