What is Phase Change Software?
Phase Change Software is at the forefront of modernizing enterprise software by specializing in the transformation of legacy COBOL systems into accessible knowledge bases. Leveraging deterministic AI technology, their flagship product, COBOL Colleague, offers a verified understanding of COBOL code. This solution is designed to eliminate errors, accelerate onboarding processes, and provide businesses with a reliable method for managing complex legacy software, having already analyzed over 6 million lines of code.
How much funding has Phase Change Software raised?
Phase Change Software has raised a total of $2.6M across 2 funding rounds:
Private Equity
$190K
Debt
$2.4M
Private Equity (2013): $190K with participation from Radian Group Inc
Debt (2014): $2.4M, investors not publicly disclosed
Key Investors in Phase Change Software
Radian Group Inc
Radian Group Inc, operating from radian.biz, is an entity that has provided private equity backing, suggesting a focus on companies with established business models or significant growth potential.
What's next for Phase Change Software?
With a major enterprise-level funding context and a recent strategic investment, Phase Change Software is poised for significant scaling and further development. The company's focus on accuracy and speed in legacy system modernization positions it to capture a substantial market share. Future initiatives will likely involve expanding their AI capabilities, enhancing COBOL Colleague's features, and forging deeper partnerships with enterprises seeking to de-risk and optimize their critical software infrastructure. This strategic backing signals strong confidence in their unique technological approach.
See full Phase Change Software company page
