Lowenstein Sandler represented lead investor Acrew Capital, an early-stage venture capital fund, in a $30 million Series B financing round for Moderne, a developer platform for AI-supported auto-refactoring and source code analyses that frees developers to do the creative work. Other investors include Morgan Stanley, Amex Ventures, TIAA Ventures, Allstate, Intel Capital, Mango Capital, and True Ventures.
The funding round solidifies Moderne's pioneer status as the only company driving mass-scale code modernization and tech debt remediation critical to the progress and success of enterprises and hyperscalers. Moderne will use the new funding to extend its commitment to ideal consumer experiences and rapid time to value.
The Lowenstein team included Chandra K. Shih, Samantha Fox, and Christina Nadeau Erickson.