NCino
| Company type | Public |
|---|---|
| Industry | Financial technology |
| Founded | 2011 |
| Founder | Banking professionals |
| Headquarters | Wilmington, North Carolina , United States |
Area served | International |
Key people | Pierre Naudé (Executive Chairman), Sean Desmond (CEO) |
| Products | Cloud-hosted banking software, core banking solution |
| Revenue | US$540.7 million (2024) |
Number of employees | 1800+ (2024) |
| Website | ncino |
nCino, Inc. is an international financial technology enterprise based in Wilmington, North Carolina. It delivers a cloud-hosted banking software and core banking solution utilized by banks, credit unions, and other financial entities. The nCino Platform serves more than 2,700 organizations globally, counting prominent institutions such as TD Bank, Truist Financial, and Santander Bank among its clientele.
The company’s collaborations with leading firms like Accenture, Deloitte Digital, PwC, and West Monroe Partners amplify its influence in the market and enhance its capabilities in driving digital transformation within the banking industry.
By 2024, nCino reported revenues nearing US$540.7 million and had a workforce exceeding 1,800 employees. In February 2025, leadership shifted when founder Pierre Naudé transitioned from CEO to Executive Chairman, appointing Sean Desmond as the new CEO to spearhead further strategic growth and operational leadership.
History
Established by banking professionals in 2011, nCino began its journey focused on financial technology solutions.
The inaugural nSight user conference took place in 2013. By 2017, the company expanded its international footprint with an office in London, followed by additional locations in Sydney, Australia, and Canada, along with forming a joint venture in Japan. In 2019, nCino introduced nCino IQ, incorporating artificial intelligence and machine learning technologies to improve automation processes and predictive analytics.
To strengthen its product suite and market reach, nCino undertook several acquisitions: Visible Equity (financial analytics, 2019), FinSuite (Australian software provider, 2019), and SimpleNexus (digital homeownership platform, 2022). In 2024, it acquired DocFox, specializing in automated onboarding for commercial banking clients, as well as FullCircl, a platform focused on Customer Lifecycle Intelligence. Most recently, in February 2025, nCino completed the acquisition of SandBox Banking, a company offering digital transformation services.
These strategic acquisitions align with nCino’s objective to broaden its global presence and diversify its range of financial technology products, thereby reinforcing its competitive position within the banking software sector.
Funding and IPO
Originally launched as a majority-owned subsidiary of Live Oak Bancshares, a banking holding company, nCino secured $9 million in initial capital in 2013. The following year saw a $10 million Series A investment from Wellington Management Company. In 2015, the company raised $29 million through Series B funding led by Insight Venture Partners. A $51 million Series C round came in 2018 under the leadership of Salesforce Ventures. Subsequently, October 2019 marked an $80 million Series D financing round led by T. Rowe Price Associates.
Since its inception in 2012, nCino has partnered with Salesforce to leverage cloud technology for expanding its banking platform internationally. On July 13, 2020, the SEC approved nCino’s initial public offering. The company issued 9,269,000 shares priced at $31.00 each, generating net proceeds of $268.4 million after underwriting costs. This capital injection facilitated ongoing business development and entry into new markets.
Philanthropy and sponsorship
In 2021, nCino contributed $1.3 million toward the development of Wilmington's sports complex park, which has since been named the nCino Sports Park and was planned to open in the fall of 2022. Additionally, the company committed $1 million over a five-year period to support the Food Bank of Central & Eastern North Carolina’s new Hunger Solutions Center, demonstrating its dedication to community support.
Antitrust and wage suppression investigations
During 2021, nCino revealed that it had received grand jury subpoenas from the Department of Justice's Antitrust Division concerning its recruitment and compensation policies. A class-action lawsuit was initiated, accusing nCino, Live Oak Bank, and Apiture of colluding to refrain from recruiting each other's employees. The DOJ concluded its inquiry in February 2023 without pursuing further measures. While Live Oak Bank resolved the lawsuit with a $4.65 million settlement in March 2022, nCino declined to settle and maintains its denial of the accusations following the investigation’s closure.
Insider trading allegations
In September 2022, The City of Hialeah Employee Retirement System filed a lawsuit against nCino’s primary owner, Insight Ventures, along with members of nCino’s board. The suit claimed they exploited confidential information regarding nCino’s acquisition negotiations with SimpleNexus to enhance their investment positions prior to the transaction. On December 28, 2023, the Delaware Court of Chancery dismissed the case in its entirety. This dismissal was subsequently affirmed by the Delaware Supreme Court on September 12, 2024.