nCino Raises Additional $29 Million

WILMINGTON, N.C. –– nCino, a provider of secure, cloud-based operating solutions, said its has completed raising $29 million in Series B financing. The company said the funding follows news of a record 2014, during which it saw a 206% increase in revenue growth and the addition of more than 40 financial institutions to nCino’s rapidly customer base of banks and credit unions with assets ranging from $150 million to $200 billion. The proceeds from this round of funding will allow nCino 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, the company said.