CM First Group, an Austin, Texas-based provider of modernization solutions for enterprise software applications, secured $1.2m in equity financing.
The round was led by Central Texas Angel Network (CTAN) and Lone Rock Technology Group with participation from Capital Factory. In conjunction with the funding, Clint Whitaker of CTAN and Joel Trammel of Lone Rock joined the Board of Directors of CM First.
The company intends to use the funds to accelerate the growth of its software tools and services.
Led by John Rhodes, managing director, CM First provides technologies that enable IT architects to understand and migrate the business rules and system interdependencies of large complex software applications.
The company’s offerings include:
– CM evolveIT, which automatically analyzes and mines business rules from mainframe applications, and
– CM M3, which automates the transformation of CA 2E applications to modern platforms using CA Plex, Java/.Net and the cloud.
CM First has served over 400 customers across the Americas and Europe including T. Rowe Price, Foot Locker and others in financial services, insurance, healthcare, retail and government.