Pre-Seed27 July 2023

AppFactor secures oversubscribed pre-seed funding led by Haatch to expand its AI modernisation platform.

The pre-seed round was led by Haatch alongside angel investors to fund product enhancement and customer growth.

AppFactor builds artificial intelligence tools that streamline and accelerate the process of modernising legacy software applications.

AppFactor has closed an oversubscribed pre-seed funding round led by Haatch, alongside participation from notable angel investors. The fresh capital will support the company as it transitions from early deployments to a full commercial launch.

The business recently demonstrated its technology by accelerating a government agency modernisation project fifteenfold while cutting costs to a third of the estimated budget. AppFactor intends to direct the new capital towards product development, customer acquisition, and strategic partnerships as it prepares for broader scaling.

From the founder

"We are thrilled to have closed this oversubscribed pre-seed funding round. Our initial product deployment has already delivered remarkable results, facilitating a significant 15-fold acceleration of a large government agency’s modernisation project, while reducing costs to just one-third of the estimated budget. With this clear validation of our product-market fit, we are preparing to enter a scaling phase in 2024."

Keith Neilson

CEO and Co-founder at AppFactor

Investor perspective

"The market for application modernisation is primed for a fresh approach, and we believe AppFactor is poised to deliver just that. We are excited to be on the growth journey with AppFactor who has the potential to be a game-changing platform."

Fred Soneya

Co-founder & Partner, Haatch