nCino, a Wilmington, N.C.-based provider of operating solutions to the financial services industry, completed a $29m Series B financing.
The round was led by Insight Venture Partners, with participation from existing investors Wellington Management Company LLP, former Morgan Stanley Chairman and CEO John Mack and Promontory Financial Group Founder and CEO Gene Ludwig.
The company intends to use the funds to continue to expand operations domestically, as well as enter international markets; accelerate product innovation; further engage with large, enterprise banks; and grow its team with a key focus on product development and customer success.
Led by Pierre Naudé, CEO, nCino provides cloud-based bank operating solutions to the financial services industry. Through its flagship Bank Operating System solution, the company leverages the Salesforce Platform to provide financial institutions with clarity into their existing loan production pipelines, portfolios and operating efficiencies across all business lines.
In 2014, nCino, recorded 206% revenue growth and added more than 40 financial institutions to its customer base of banks and credit unions with assets ranging from $150 million to $200 billion.