Closes Strategic Round of Funding with Salesforce Ventures to Accelerate Global Expansion
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.”
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“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.