CoreStory Raises $32M in Series A Funding

The announcement marks a defining moment in enterprise software modernization. Trillions of lines of legacy code still power our banks, airlines, healthcare systems, and governments — but much of it is undocumented, aging, and nearly impossible to safely modify.

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CoreStory tackles that problem by using agentic AI to extract business logic, architecture, and workflows from legacy systems, turning them into structured “living specifications.” These machine-readable artifacts help developers and AI agents navigate complex systems confidently, reducing risk and accelerating change.

Enterprises using CoreStory see a 50 percent reduction in manual engineering time and faster ROI from modernization initiatives. In joint research with Microsoft, CoreStory’s approach made AI engineering agents 51 percent more accurate than those relying on code alone — a result that translates directly into millions in saved labor and lower failure risk.

“Every time you swipe a card or make a claim, you’re depending on software written decades ago,” said Anand Kulkarni, CEO of CoreStory. “Our platform makes that software understandable again and turns modernization from a cost center into a strategic asset.”

For Brian Hirsh, Partner at Tribeca Venture Partners, “CoreStory turns the biggest problem in enterprise IT into an AI-solvable one. Their customers aren’t just cutting cost, they’re recovering decades of institutional knowledge from code that once seemed untouchable.”

Aaron Jacobsen, Partner at NEA, added that “CoreStory is defining the foundation for agentic-powered software development. Their specifications bridge the gap between legacy complexity and the AI-assisted future.”

Yanev Suissa, Managing Partner at SineWave Ventures, commented that “Modernizing mission-critical systems is not just an IT initiative - it’s an economic and security imperative. CoreStory’s platform lets enterprises do this at scale and prove the results.”

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