Wilmington, North Carolina-based nCino, a provider of cloud banking, has secured an undisclosed amount of funding. Salesforce Ventures led the round.
WILMINGTON, NC and SAN FRANCISCO, CA – January 31, 2018 – nCino, the worldwide leader in cloud banking, today announced that its customer portfolio now includes more than 180 financial institutions across multiple countries, including 10 of the top 30 U.S. banks by asset size and Navy Federal, the world’s largest credit union. Additionally, the company recently completed a funding round led by Salesforce Ventures, the corporate investment group of Salesforce, with participation from another existing nCino shareholder.
This additional investment will further fuel the company’s global growth initiatives and accelerate the continued development and innovation of its Bank Operating System, built on the Salesforce platform, and integrated with Salesforce Financial Services Cloud. Since its founding in 2012, nCino has been a Salesforce partner in financial services.
“From day one, our vision has been to be the worldwide leader in cloud banking,” explained Pierre Naudé, chief executive officer at nCino. “We are successfully executing on that vision and empowering financial institutions around the globe to grow their business and better serve their customers. Our strong alignment with Salesforce has been a key factor in our growth and success. We are thrilled to deepen our partnership with them and further our joint efforts to transform the financial services industry.”
“nCino extends the power of the Salesforce platform, enabling banks to get closer to their customers than ever before,” said Rohit Mahna, SVP and GM of Financial Services, Salesforce. “The investment from Salesforce Ventures is the latest evolution in our strong partnership, and we’re thrilled to help fuel nCino’s global growth and innovation.”
nCino’s Bank Operating System integrates with a financial institution’s core and transactional systems while replacing other point solutions and manual-based processes. It uniquely combines CRM, deposit account opening, loan origination, workflow, enterprise content management, digital engagement and instant, real-time reporting in a single platform. nCino is among the most popular apps in the Salesforce ecosystem, and is consistently a top choice for financial institutions of all asset sizes. Salesforce recently presented nCino with its inaugural Appy Award at Dreamforce 2017 recognizing the company’s commitment to customer experience and industry innovation.
In addition to Salesforce Ventures, nCino is backed by other world-class investors including Insight Venture Partners and Wellington Management.
nCino is the worldwide leader in cloud banking. With its Bank Operating System, built on the Salesforce platform, financial institutions can deliver the speed and digital experience that customers expect, backed by the quality and transparency that bankers need. Follow @nCino or visit www.ncino.com.
About Salesforce Ventures
Salesforce, the global CRM leader, empowers companies to connect with their customers in a whole new way. Salesforce Ventures—the company’s corporate investment group—invests in the next generation of enterprise technology that extends the power of the Salesforce Intelligent Customer Success Platform, helping companies connect with their customers in entirely new ways. Portfolio companies receive funding as well as access to the world’s largest cloud ecosystem and the guidance of Salesforce’s innovators and executives. With Salesforce Ventures, portfolio companies can also leverage Salesforce’s expertise in corporate philanthropy by joining Pledge 1% to make giving back part of their business model. Salesforce Ventures has invested in more than 250 enterprise cloud startups in 14 different countries since 2009. For more information, please visit www.salesforce.com/ventures.