Moderne, a Miami-based company specializing in automated code refactoring and analysis, has successfully secured $30 million in a Series B funding round. This substantial investment underscores the growing recognition of Moderne’s innovative approach to addressing technical debt in complex codebases, a challenge that has long plagued enterprises striving for agility and efficiency in their software development processes.

The Series B funding round was led by Acrew Capital, with notable participation from Morgan Stanley, Amex Ventures, and TIAA Ventures. Existing investors, including Allstate, Intel Capital, Mango Capital, and True Ventures, also contributed, reflecting their continued confidence in Moderne’s vision and trajectory. This infusion of capital is expected to accelerate Moderne’s growth, enabling the company to expand its operations and extend its market reach.

Technical debt refers to the accumulated challenges that arise when expedient design or coding decisions are made during software development, leading to increased complexity and potential issues in the future. Over time, this debt can hinder innovation, slow down development cycles, and escalate maintenance costs.

Moderne’s platform offers a solution by automating the process of code refactoring, thereby reducing technical debt and enhancing code quality across large-scale, complex codebases.

Read also: Semgrep Secures $100M to Enhance AI-Powered Code Security

Moderne’s technology is rooted in the OpenRewrite open-source project, which was developed by CEO and co-founder Jonathan Schneider during his tenure at Netflix. OpenRewrite provides a framework for automated code refactoring, enabling developers to systematically address code issues across multiple repositories. Building upon this foundation, Moderne has developed a platform that can analyze and transform codebases quickly and accurately, facilitating large-scale code migrations and maintenance.

A cornerstone of Moderne’s platform is its use of the Lossless Semantic Tree (LST) code representation. This structured representation of source code enables a deeper semantic understanding while retaining the original details, such as whitespace, comments, and syntax. The LST facilitates precise code analysis and transformation, ensuring that automated refactoring maintains the integrity and functionality of the original code.

In 2024, Moderne introduced AI-assisted auto-refactoring, a feature that leverages artificial intelligence to enhance the accuracy and efficiency of code transformations. This innovation allows developers to apply complex refactoring across multiple repositories simultaneously, significantly reducing the manual effort required to manage technical debt. By automating routine code maintenance tasks, developers can focus on higher-value activities, such as feature development and optimization.

Read also: Prophecy raises $35M to Advance Low-Code Data Transformation Platform

Strategic Growth Initiatives

With the new funding, Moderne plans to pursue several strategic initiatives to strengthen its position in the market:

• Product Development: The company aims to enhance its platform by introducing new features that further automate code maintenance and improve developer workflows.
• Market Expansion: Moderne intends to broaden its reach by targeting additional industries and markets, demonstrating the versatility of its platform across various sectors.
• Talent Acquisition: Investments will be made in expanding the team, particularly in engineering and customer support, to better serve a growing client base.

Industry Perspectives

The challenge of technical debt is a multi-billion-dollar problem across the software industry. Moderne’s automated approach to code refactoring positions it as a key player in addressing this pervasive issue. By providing tools that enable enterprises to manage and reduce technical debt efficiently, Moderne is contributing to more sustainable and agile software development practices.

As Moderne embarks on this next phase of growth, the company remains committed to its mission of empowering developers and enterprises to manage technical debt effectively. With the support of its investors and the dedication of its team, Moderne is well-positioned to drive innovation in automated code analysis and refactoring, ultimately contributing to the advancement of the software development industry.