BNP Paribas Backs API Startup OpenLegacy

OpenLegacy develops an API integration platform that helps companies extend their legacy systems to the web and offer additional services

Euronext-listed bank BNP Paribas SA participated in a $30 million funding round for Reston, Virginia-headquartered application programming interface (API) startup OpenLegacy Inc., the latter announced Wednesday.

 

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Founded in 2013, OpenLegacy develops an API integration platform that helps companies extend their legacy systems to the web and offer additional services.

OpenLegacy's CFO Ron Rabinowitz (left), CEO Romi Stein, and CTO Roi Mor. Photo: OpenLegacy

 

Led by Hong Kong-based investment firm Silverhorn Investment Advisors, the funding round brings OpenLegacy’s overall capital raised to $40 million. BNP invested in the company through a joint venture formed with venture capital fund Cathay Innovation.

 

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Additional investors in the round include CommerzVentures, the investment arm of German bank Commerzbank AG, O.G. Tech Ventures, a venture capital fund launched last year by Israeli-born business magnate Eyal Ofer, and existing investor RDC, a joint venture of Israel-based arms developer Rafael Advanced Defense Systems Ltd. and Elron Electronic Industries Ltd.

 

OpenLegacy employs 85 people in Israel, the U.S., Switzerland, and Mexico.