nCino Receives $10 Million Investment
Latest capital infusion to expedite development, market delivery and penetration of bank operating system solution
WILMINGTON, N.C., February 11, 2014-- nCino, Inc., the leader in secure, cloud-based operating solutions to the financial services industry, has received a $10 million investment from Wellington Management Company LLP. This latest investment will help accelerate nCino’s growth into the community bank and credit union markets, and support an ongoing evolution of the company’s bank operating system product to further advance commercial lending practices.
“nCino values this investment as validation to our position as the leader in cloud banking,” added Pierre Naudé, CEO, nCino. “It is a privilege to enter into an investor relationship with a firm that enjoys the reputation and reach of Wellington Management. Its investment into our company enables us to continue innovating our product offering, provide even greater service and support to our customers, and go to market more quickly with new features that continue to meet the current and future needs of the financial services industry.”
Headquartered in Boston, Wellington Management has approximately $834 billion in client assets under management as of Dec. 31, 2013, and serves as an investment advisor to more than 2,100 institutions located in over 50 countries.
nCino raised $9 million last spring in investment funding; former Morgan Stanley Chairman and CEO John Mack, Promontory Financial Group CEO Eugene Ludwig, and Live Oak Bank Chairman and CEO Chip Mahan were among the lead investors.
Wilmington, N.C.-based nCino, Inc. is the leader in cloud-based bank operating solutions to the financial services industry. Through its flagship Bank Operating System solution, nCino leverages the power of the Salesforce Platform to provide small- to mid-sized financial institutions with superior transparency and clarity into their existing loan production pipelines, portfolios and operating efficiencies across all business lines, resulting in increased profitability, productivity gains and regulatory compliance. For more information, visit www.ncino.com. For media and press inquiries email: firstname.lastname@example.org.
This announcement appears as a matter of record only and is not an offer to sell, or the solicitation of an offer to buy, securities.
The NCINO mark is a federally registered trademark of nCino, Inc. All rights reserved.
Megan Fort, 678-781-7223
Venture Capital Database