CoreStory raises $32M to advance AI legacy code modernization

AI startup CoreStory has raised $32 million in a Series A round. The company uses artificial intelligence to help enterprises modernize legacy software.

The funding round was led by Tribeca Venture Partners, NEA, and SineWave Ventures. Other investors included Samsung Next and Alumni Ventures.

Many large organizations depend on applications written decades ago. These systems often use older programming languages like COBOL. Updating this software requires rewriting it in a modern language. This process is slow and complex because few developers understand the original code. CoreStory built an AI platform called Code-to-Spec to accelerate this workflow.

It automatically analyzes old codebases and generates documentation. The platform creates natural language summaries of an application's features. It also maps the underlying technologies, like programming languages and databases. Code-to-Spec explains each individual code snippet with text and a visual graph. A chatbot interface lets developers ask specific questions about the application.

The tool also provides advice on how to rewrite the code. It can rank software components based on the effort required to modernize them.

CoreStory says its platform is powered by model ensembles. This approach combines outputs from multiple neural networks to generate a higher quality response.