Investment led by Tribeca Venture Partners, NEA, and SineWave Ventures to accelerate enterprise modernization and AI-powered development.

CoreStory, the Code Intelligence company, today announced a $32 million Series A funding round led by Tribeca Venture Partners, NEA, and SineWave Ventures, with participation from Harrison Metal, Singtel Innov8, Samsung Next, Nimble Partners, and Alumni Ventures.

The investment accelerates CoreStory’s mission to tackle one of enterprise technology’s most costly challenges: understanding and modernizing the trillions of lines of legacy code that still power critical systems such as Social Security, Medicare, airlines, banks, and defense networks. Most of this code is undocumented, risky to modify, and too complex for traditional methods to safely modernize.

At the same time, a surge of AI-generated code is adding billions of new lines each month, many without documentation or clear design intent. Enterprises now face a dual challenge: modernizing the software they already depend on and managing what AI creates next.

CoreStory uses agentic AI to extract business logic and architecture from decades-old applications, transforming opaque systems into living, maintainable assets that organizations can safely expand. Enterprises using CoreStory report up to a 50 percent reduction in human development time by replacing manual discovery, documentation, and validation with automated specifications — turning modernization into a measurable, ROI-positive initiative.

“Every time you swipe a card or make a claim, you’re depending on software written decades ago that few people understand,” said Anand Kulkarni, CEO of CoreStory. “CoreStory’s agentic AI reads, maps, and documents that code, turning it into living specifications that make modernization safe and measurable. Our mission is to make the world’s software infrastructure understandable again — and future-proof for the AI era.”

The Agentic Code-to-Spec Platform

Foundation models excel at generating new code but struggle to reason about large, interconnected systems. CoreStory’s Code-to-Spec agent automatically interprets millions of lines of code, converting them into living requirements that developers and AI agents can use like an atlas for code.

Research published jointly with Microsoft shows that using CoreStory’s structured specifications within AI software-engineering agents improves accuracy by 51 percent, shortening modernization timelines and reducing project risk for enterprise customers.

“CoreStory is redefining how enterprises understand and manage their software estates,” said Aaron Jacobsen, Partner at NEA. “By converting legacy code into structured, living specifications, CoreStory bridges the gap between decades of accumulated complexity and the new era of AI-assisted development.”

The Rise of Specification-Driven Development

CoreStory pioneers Specification-Driven Development (SDD), a discipline that grounds all software — whether legacy or AI-generated — in explicit, machine-readable specifications expressed in natural language. By recovering specifications from existing systems and embedding them into modern workflows, CoreStory ensures that business intent and technical execution stay aligned throughout the software lifecycle.

About CoreStory

CoreStory leverages AI-driven intelligence models to reimagine and accelerate legacy migration and application maintenance. Its proprietary model ensembles and agentic workflows document the business and technical insights locked in legacy code, reducing failure and accelerating delivery for strategic enterprise applications.

Visit corestory.ai or follow us on LinkedIn.

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Enterprises using CoreStory report up to a 50 percent reduction in human development time, turning modernization into a measurable, ROI-positive initiative.