Israel’s API integrator OpenLegacy gets $30m funding
OpenLegacy, an Israeli microservices-based API integration for back-end applications, has closed a funding round of $30 million.
Round participants include Silverhorn Investment Advisors (lead investor); CommerzVentures, the VC unit of Commerzbank; C. Entrepreneurs, the VC created by BNP Paribas Cardif with Cathay Innovation; Leumi Partners; OG Tech Ventures; Prytek-GFS Group; and RDC, a major investor from the seed stage.
Patrick Meisberger, CommerzVentures MD, says: “We understand the size of the potential market because we can see first-hand the challenges of adopting new technologies in legacy environments. OpenLegacy helps with a variety of use cases, from creating APIs quickly for any backend system all the way to a full, phased cloud migration.”
According to OpenLegacy, it helps organisations launch digital products by automating and standardising the process of creating services using microservices-based APIs.
There are no specifics about what the funding will be used for.
The firm was founded by Romi Stein (CEO) and Roi Mor (CTO). OpenLegacy says it is a “flagship company” of Tel Aviv-based The Floor – an innovation platform, in partnership with banks such as HSBC, Santander, RBS, Intesa SanPaolo, Deutsche Bank, and SMBC alongside Intel, and Accenture.