Print
Banking & Finance

NCino To Use $17.8M Raised Recently To Fund Ongoing Growth

By Cece Nunn, posted Aug 16, 2017
The $17.8 million raised by nCino recently will enable the Wilmington-based banking software company to continue to grow, a company official said Wednesday.

“As of July 2017, nCino had approximately 325 full-time employees, the majority of whom are based here in our Wilmington, NC headquarters. We also opened our first international office earlier this summer, located in central London,” said Kathryn Cook, spokeswoman for nCino, in an email. 

The firm, a spin-off of Wilmington's Live Oak Bank, had 150 employees in 2015. That’s the same year the rapidly expanding cloud banking company relocated its offices from midtown Wilmington to the Mayfaire area.

“We are planning to hire additional employees this year -- both domestically and internationally -- with a primary focus on expanding our product development & engineering and customer success teams,” Cook wrote in Wednesday’s email. “The proceeds from this latest capital raise will be used to support nCino's growth, global expansion and continued product innovation.”

The company, founded in 2012 and led by CEO Pierre Naudé, raised the $17.8 million through a private equity offering, according to a Securities and Exchange Commission filing Tuesday. The money came from three investors, said the filing, which was reported this week by the North Carolina Business News Wire, a service of UNC Chapel Hill’s School of Media and Journalism.

The company raised $15.7 million in June 2016 and $29 million in February 2015, according to the report.

In June, nCino announced that London-based OakNorth Bank had successfully deployed its Bank Operating System, the first financial institution outside of the U.S. to do so, which resulted in an expansion of the company’s presence to new markets in Europe, according to a news release. 

On Wednesday, nCino marked the second straight year that the firm had made the Inc. 500 list of the fastest-growing private companies in America.
Ico insights

INSIGHTS

SPONSORS' CONTENT
Tonyharrington wrar300x300

Wilmington Real Estate In 2020

Tony Harrington - Cape Fear REALTORSĀ®
Drewsmith copiersplus headshot

What Should I Be Paying For A Copier Contract?

Drew Smith - Copiers Plus
Michaelhiggins 41019104338

Preparing For The Loss Of A Spouse

Michael Higgins - Dignity Memorial

Trending News

For $100M Waterfront Project, Construction Begins

Cece Nunn - Aug 10, 2020

Home Sales Jump 34% In July, Realtors Report

Cece Nunn - Aug 10, 2020

In The Current Issue

Catching Up With Businesses

Starting in March, the Business Journal featured area businesses and how they are adjusting operations, innovating and coping in general wit...


NCino 'on Fire'

When the dust cleared on July 14, nCino, which had $138 million in revenue in its most recent fiscal year, was valued at close to $7 billion...


Next In Line To Lead Ports

Brian Clark becomes the new executive director of the authority, following the retirement of Paul CozĀ­za, who has served as executive direct...

Book On Business

The 2020 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2020 Leadership Accelerator: Virtual Workshops for Real Leaders
2019 Health Care Heroes
August 26, 2019 Power Breakfast: A Healthy Sale?
2019 WilmingtonBiz Expo Keynote Lunch - CEO, nCino, Pierre Naude`