Wilmington-based nCino LLC, a major provider of secure, cloud-based bank operating systems to the financial services industry, announced Tuesday it has raised $9 million in its Series A round of funding. The round began in January and closed officially Tuesday.

The round included investments from John Mack, former Morgan Stanley chairman and CEO; Gene Ludwig, CEO of Promontory Financial Group; William Ruh, managing principal of Castle Creek Capital; and Jeff Lunsford, Tealium CEO and software-as-service entrepreneur.

Investments came also from James “Chip” Mahan III, chairman and CEO of Live Oak Bank, and from all of nCino’s employees. According to nCino marketing director Jonathan Rowe, employees claimed all the investment slots available to them.

“Our original goal was $4 million; we were totally oversubscribed,” nCino CEO Pierre Naudé said. “While $7.5 million came from investors, $1.5 million came from our employees."

Naudé said nCino would use the $9 million to continue expanding marketing efforts to its target market: community banks and credit unions with assets between $350 million and $10 billion, and to maintain its “leadership position in cloud banking.”

The size of nCino’s team has grown since the close of the funding round: the company now has 48 employees and continues to hire as it identifies people with the right combination of “aptitude and attitude,” Naudé said.

“We are ramping up for significant growth, and we are recruiting all the time, looking for people who are interested in working for a dynamic and fast-paced tech company,” he said.

The company is hiring primarily for roles in software engineering, consulting and project management.

nCino’s proprietary Bank Operating System software was developed by Wilmington-based Live Oak Bank for its own use in tracking and expediting the progress of its small business loans across the U.S. Using the Salesforce.com platform, the software was designed to provide clear communication among individuals involved in transactions, who were often in different geographic locations.

Company officials say that the system organizes and automates data, eliminating the need for spreadsheets and duplicate loan documents. Reporting and dashboard features support real-time tracking. Business intelligence features aim to reduce regulatory compliance costs and policy exceptions.

Seeing the potential for application to other financial institutions, the bank spun off its software enterprise in the spring of 2012 and brought in Naudé from Atlanta-based S1 Corp., where he had many years’ experience in retail banking software. Since his arrival in early 2012, Naudé has directed the fledgling company’s reconfiguration of Live Oak Bank’s software to suit the needs of institutions in nCino’s target market.

"We believe we will transform the way banks operate," he said.

Naudé said that by the end of June, nCino’s monthly revenues are expected to have tripled since the end of 2012.

“By the end of December 2013, we want to double June revenue,” he added.