# CloudFrame

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/cloudframe

- Industry: Software
- Headquarters: New York, US
- Website: www.cloudframe.com
- Total disclosed funding: $8.5M
- Latest round: Series A (Mar 22, 2022)
- Investors on record: 2

## About

CloudFrame, Inc. specializes in modernizing legacy systems by transforming COBOL applications into modern, object-oriented Java, utilizing advanced AI technologies for optimal efficiency and accuracy.Founded in 2015 in New York, US, CloudFrame, Inc. focuses on the modernization of legacy mainframe applications. Venkat Pillay, the founder and CEO, has a history of leading technology initiatives. The company has successfully raised USD 7.00 mn in total funding through 3 deals, with the most recent being a Series A round led by Eldridge Industries, reaching a current valuation of USD 30.98 mn.CloudFrame specializes in modernizing legacy mainframe applications through its flagship product, CodeNavigator. This innovative platform facilitates the transformation of COBOL code into clean, object-oriented Java, leveraging Agentic AI to ensure accuracy and maintainability. Key features of CodeNavigator include a self-guided, fully automated approach that eliminates the need for extensive consulting, and guarantees 100% functional equivalence and numeric precision from the outset. The service primarily targets Fortune 100 companies across various industries such as finance, insurance, telecommunications, energy, and retail, addressing challenges related to rising mainframe expenses, licensing fees, and the aging workforce specializing in legacy systems. CloudFrame's offerings are positioned in key markets including North America, Europe, and Asia, where organizations seek efficient, cost-effective modernization solutions.CloudFrame generates revenue through a subscription-based model centered around its CodeNavigator platform, which is utilized by large enterprises for mainframe modernization projects. Clients engage in contracts that provide access to the software and associated services, facilitating seamless transformation of legacy applications. The company’s transactions often involve B2B arrangements, where large organizations subscribe to its services to optimize their IT infrastructure. The pricing structure is designed to reflect the complexity and scale of each engagement, ensuring that organizations receive tailored solutions that meet their specific needs. As a result, CloudFrame’s revenue is directly tied to the adoption and utilization of its technology by its client base, fostering ongoing relationships that enhance operational efficiency and drive long-term value.CloudFrame plans to expand its offerings with enhanced features for its CodeNavigator platform, targeting a launch by the end of 2024. The company aims to penetrate emerging markets in Asia and Europe, with specific investments in localized support by mid-2025. Recent funding from On Grid Ventures will be allocated to bolster product development and expand market reach, ensuring strategic advancement in its modernization services.

## Funding rounds

- Series A, Mar 22, 2022, $7M — Eldridge Industries, New York Angels
- Seed, May 24, 2019, $1.5M — New York Angels

## Investors

- New York Angels (https://capitalatlas.ai/funds/new-york-angels) — Seed, Series A
- Eldridge Industries (https://capitalatlas.ai/funds/eldridge-industries) — Series A