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CoreStory raises $32 million Series A to modernize legacy software with AI. CoreStory, the Code Intelligence company, announced a $32 million Series A funding round led by Tribeca Venture Partners, NEA, and SineWave Ventures, with participation from Harrison Metal, Singtel Innov8, Samsung Next, Nimble Partners, and Alumni Ventures. Enterprises using CoreStory report up to a 50 percent reduction in human development time, turning modernization into a measurable, ROI-positive initiative. The investment accelerates CoreStory's mission to tackle one of enterprise technology's most costly challenges: understanding and modernizing the trillions of lines of legacy code that still power critical systems such as Social Security, Medicare, airlines, banks, and defense networks. Most of this code is undocumented, risky to modify, and too complex for traditional methods to safely modernize. At the same time, a surge of AI-generated code is adding billions of new lines each month, many without documentation or clear design intent. Enterprises now face a dual challenge: modernizing the software they already depend on and managing what AI creates next. CoreStory uses agentic AI to extract business logic and architecture from decades-old applications, transforming opaque systems into living, maintainable assets that organizations can safely expand. Enterprises using CoreStory report up to a 50 percent reduction in human development time by replacing manual discovery, documentation, and validation with automated specifications - turning modernization into a measurable, ROI-positive initiative. "Every time you swipe a card or make a claim, you're depending on software written decades ago that few people understand," said Anand Kulkarni, CEO of CoreStory. "CoreStory's agentic AI reads, maps, and documents that code, turning it into living specifications that make modernization safe and measurable. Our mission is to make the world's software infrastructure understandable again - and future-proof for the AI era." The agentic Code-to-Spec platform. Foundation models excel at generating new code but struggle to reason about large, interconnected systems. CoreStory's Code-to-Spec agent automatically interprets millions of lines of code, converting them into living requirements that developers and AI agents can use like an atlas for code. Research published jointly with Microsoft shows that using CoreStory's structured specifications within AI software-engineering agents improves accuracy by 51 percent, shortening modernization timelines and reducing project risk for enterprise customers. "CoreStory is redefining how enterprises understand and manage their software estates," said Aaron Jacobsen, Partner at NEA. "By converting legacy code into structured, living specifications, CoreStory bridges the gap between decades of accumulated complexity and the new era of AI-assisted development." The rise of Specification-Driven Development. CoreStory pioneers Specification-Driven Development (SDD), a discipline that grounds all software - whether legacy or AI-generated - in explicit, machine-readable specifications expressed in natural language. By recovering specifications from existing systems and embedding them into modern workflows, CoreStory ensures that business intent and technical execution stay aligned throughout the software lifecycle.

CoreStory raises $32M to help companies modernize legacy code with AI. Artificial intelligence startup CoreStory Inc. today announced that it has closed a $32 million funding early-stage round led by Tribeca Venture Partners, NEA and SineWave Ventures. The Series A deal also drew contributions from several other backers. The group included Samsung Next, the venture capital arm of Singaporean internet provider Singtel, Harrison Metal, Nimble Partners and Alumni Ventures. Many large enterprises have decades-old applications written in legacy programming languages such as COBOL. Modernizing those applications often requires rewriting them in a new language. Before developers can begin rewriting a program, they have to create documentation that explains what each of the program's components does and how. Fully documenting an application can take months in some cases. One reason is that legacy software is often written in COBOL, a programming language that relatively few developers understand. Another factor is that some legacy applications include tens of thousands of lines of code or more. San Francisco-based CoreStory is working to speed up the software modernization workflow. The company has developed an artificial intelligence platform, Code-to-Spec, that can automatically generate documentation for legacy code bases. It also provides pointers on how developers should go about modernizing the code. After analyzing a legacy application, Code-to-Spec generates a natural language overview of its features. It also creates a summary of the technologies that power the program. According to CoreStory, Code-to-Spec maps out details such as the programming languages in which a workload is written and the database it uses to store information. Alongside high-level architectural summaries, the platform can generate an explainer of each individual code snippet in an application. The explainer comprises two elements. There's a natural language description, as well as a graph that visualizes the processing steps a given code snippet performs. A chatbot interface enables developers to ask Code-to-Spec questions about an application's code. A user could, for example, request a list of components that could be made more hardware-efficient. Code-to-Spec can rank the code snippets it finds based on the amount of work it would take to rewrite them. The platform not only identifies application components that can be modernized but also provides advice on how to go about the task. For example, Code-to-Spec might suggest that developers equip a code snippet with an error handling mechanism to prevent outages. CoreStory says its platform is powered by model ensembles. A model ensemble is a collection of neural networks that generates multiple answers to each prompt and then combines them into a single response. In some cases, that arrangement can provide higher output quality than other machine learning approaches. ""Every time you swipe a card or make a claim, you're depending on software written decades ago that few people understand," said Chief Executive Officer Anand Kulkarni. "CoreStory's agentic AI reads, maps and documents that code, turning it into living specifications that make modernization safe and measurable." The new funding should put CoreStory in a better position to compete with products such as Anthropic PBC's Claude Code. The programming assistant, which is generating more than $500 million in annualized revenue, lends itself to application modernization projects. Claude Code can rewrite software in a new language and automatically run tests to ensure the code works as expected. 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CoreStory announced a $32 million Series A funding round led by Tribeca Venture Partners, NEA, and SineWave Ventures, with participation from others. The investment aims to modernize legacy software using AI for code intelligence. CoreStory's platform reduces human development time by up to 50% by converting legacy code into structured specifications, improving modernization accuracy by 51%. This initiative addresses the challenge of managing both legacy and AI-generated code.