Alkami Technology, Inc. (Alkami), a leading provider of cloud-based digital banking solutions to banks and credit unions in the U.S., today announced the initial closing of a $55 million Series E funding round.
General Atlantic led the round alongside MissionOG, while other existing investors, including S3 Ventures and Argonaut Private Equity, participated in the funding.
Mike Hansen, CEO and Alkami Director said, "In a few months we will celebrate our tenth anniversary. We are very honored and excited about the support of our existing investors evidenced again by this round. Their long-term commitment and support has allowed us to continue to boldly invest in innovation, people, and best-in-class service. They remain one of Alkami's most potent sources of strength and results." Hansen further commented, "Our remarkable clients are another potent source of strength outperforming the market on key engagement, growth and profitability dimensions by a significant margin. Together we are creating and delivering winning digital solutions to our clients' customers, members and businesses essential in today's digital age."
"Alkami continues to experience incredible growth as a leader in the large and growing digital banking market. We believe Alkami will continue to drive the industry forward with new innovations in user experience, product features, platform architecture, and data security," said Raph Osnoss, Vice President at General Atlantic and Alkami Director. "We are proud to continue our strong partnership with Alkami and its talented executive team."
Alkami is the digital banking platform of choice for more than 130 financial institutions across the United States, and the company's clients have over 6 million registered users on the platform. Alkami was a first mover to the cloud enabling clients to quickly deliver innovative new features. Alkami clients' mobile banking apps receive industry leading App Store and Google Play scores.
Alkami was ranked 284th overall in the 2018 Inc. 5000 Fastest Growing Companies as well as #78 on Deloitte's 2018 Technology Fast 500 in North America. Additionally, the Company was named one of the Best FinTechs to Work For by SourceMedia (publishers of American Banker and The Credit Union Journal) in 2019.
Since its inception, Alkami has raised over $225 million in capital, including the Series E funding round.