Moderne raises $30 million

Moderne, a Miami-based code refactoring and analysis company, has closed $30 million in Series B funding led by Acrew Capital with participation from Morgan Stanley, Amex Ventures, and TIAA Ventures, as well as all previous investors Allstate, Intel Capital, Mango Capital and True Ventures.

Founded in 2020, Moderne is a developer platform for automatically migrating, securing, and analyzing source code with “speed and accuracy” across multiple repositories.

Moderne grew its customer base by 250% in 2024, attracting many Fortune 500 companies, including Allstate, Choice Hotels, and Walmart.

“The challenge of addressing technical debt impacts nearly every company, but it’s mission-critical for enterprises managing massive, complex codebases. 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.” – Mark Kraynak, Founding Partner at Acrew Capital.

“Moderne alone produces the data that is going to drive the next decade of code modernization. This data covers everything the compiler knows about the code multiplied by tens of thousands of repositories at each customer. 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.” – Moderne CEO and co-founder Jonathan Schneider.