Key facts
- Kodesage raised $6.6 million in funding.
- The company's AI technology modernizes legacy enterprise software on-premise.
- Kodesage targets banks and insurers with core systems running on COBOL and Oracle Forms.
- The AI modernization occurs without the software leaving the client's building.
Kodesage, a startup with operations in London and Budapest, has successfully raised $6.6 million to advance its artificial intelligence technology. This AI is designed to modernize legacy enterprise software, specifically targeting the core systems of banks and insurers that still rely on older technologies like COBOL and Oracle Forms. A key aspect of Kodesage's approach is that the entire modernization process is conducted on-premise, meaning the sensitive legacy software does not need to leave the client's building. This addresses the critical need for updating essential but often poorly understood financial systems without introducing significant operational or security risks associated with migrating them off-site.