CloudFrame, a NYC-based mainframe software company, completed $1.5m in seed financing.
The New York Angels led the investment round with participation from existing and new investors.
The investment will allow the company to expand its sales and marketing efforts as well as broaden and accelerate product development. Bruce Gallager of the New York Angels will join CloudFrame’s Board of Directors.
Led by Chief Executive Officer Venkat Pillay, CloudFrame is a software product company focused on innovating and modernizing legacy mainframe technologies. The company’s solution allows customers to convert legacy programs to cloud-ready modern code and reduce mainframe costs, integrate new technologies into their business applications, and migrate to cloud.
In 2019, CloudFrame participated in the NYC Fintech Innovation Lab.