When Forbes’ list of America’s Most Promising Companies was published Wednesday, Wilmington-based banking software provider nCino not only popped in at No. 93, but was also the only North Carolina company represented among the list of 100 private companies.
nCino debuted on the list among what Forbes termed a “bevy of new faces," according to a news release from the company. It is also one of the younger organizations among Forbes’ promising companies, having been formed just three years ago as a spinoff of Live Oak Bank.
nCino listed its 2014 revenue as $5 million and its workforce as numbering 102. Just last week, however,
CEO Pierre Naudé said in an interview that the company plans to hire 50 to 75 more people in the near future as the company expands its client base as well as its product portfolio.
“The Forbes article stated that ‘each firm is going places,’ and we certainly are seeing that with nCino’s growth and market opportunity,” Naudé said in Thursday’s release. “In less than three years, nCino has emerged from a few banks wanting to improve the way they originate and manage loans, to a multimillion-dollar organization transforming the financial services industry and how institutions operate, use data and serve their customers.”
nCino provides a growing range of financial institutions with a cloud-based Bank Operating System to simplify the loan process as well as give bankers a more comprehensive view into customer relationship management. Since it was founded in early 2012, nCino has raised more than $25 million in capital.
The 100 companies on the
America’s Most Promising Companies list were chosen only partially for their revenue growth, according to the Forbes website. “Companies on the list are all private and generating under $300 million annually. Revenue growth plays a big part in choosing the ranking for America’s Most Promising Companies, but that’s not all we take into account," the publication stated in explaining its methodology. "We pay attention to growth rates, growth in employee numbers, how long companies have been doing what it is they do, operating margins, capital raised, product ideas, management and other factors.”