> nCino is a leading global provider of cloud-based software for financial institutions. We empower banks and credit unions with the technology they need to meet ever-changing client expectations and regulatory requirements, gain increased visibility into their operations and performance, replace legacy systems, and operate digitally and more competitively. Our solution, the nCino Bank Operating System, digitizes, automates and streamlines inefficient and complex processes and workflow, ...
Having been part of the Wilmington, NC startup ecosystem for some time at Untappd [1], I'm fairly certain that nCino is a spinoff of Live Oak Bank [2][3]. Also, another spinoff from Live Oak was Apiture [3][4].
[1] http://www.wilmingtonbiz.com/technology/2020/06/19/whats_nex...
[2] https://www.forbes.com/sites/amyfeldman/2016/01/10/fast-grow...
[3] http://www.wilmingtonbiz.com/banking_and_finance/2020/06/22/...
[4] https://www.starnewsonline.com/news/20180502/tech-company-ap...
nCino is headquartered in my hometown, Wilmington, North Carolina. Even here, they keep a very low profile.
Within the local entrepreneurship community, they're recognized as being very successful, but most people who live here don't even know who they are.
They've done a nice job, and they deserve this. Congrats team!
Hey this is where I’ve worked for the last 4 years. Hands down the best company I’ve ever worked for.
There's some discussion in this thread about the less-sexy corners of the market that are getting eaten by software. What I'm wondering about is whether these corners yield the incredible levels of profitability that we've seen in the past from the tech industry. In other words, with something like Facebook, once the basic product was operational, every additional million of users came with negligible acquisition costs. With something like SAP, every new customer requires a gargantuan integration effort.
So what I'm curious about is this: It might be true that there is a long tail of industries that remains to be eaten by software, but do we expect the software in those industries to be as scalable as it has been in "tech"?
We're living in an age where twitter rants on Apple draw more attention than the entire lifespan of a quite fintech unicorn.
The Co-founder/CEO holds only 1.6% of the common shares!?
Sorry if this is a dumb question but why is nCino built on top of Salesforce? Would they not be better off as a standalone system?
They are super loss making, which is unusual for a tech provider (and that too, running on Salesforce).
Is this because of the Salesforce tax ?
wow. This makes hanging out on HN worth every minute. I will certainly sink some money into this company once they IPO. Their retention rate is astounding and in a B2B or enterprise sales business this is one of the governing predictors of growth.
It's very rare to find humble low profile founders who just want to build businesses that make money. Ticks off most of my Warren Buffett filters.
Can someone explain to me why this is important? Not trolling, I'm serious.
As an enterprise SaaS person, you really love to see it. I spend a good amount of time in the enterprise b2b world, and I had literally never heard of them. Boring businesses kick ass.
My only disappointment: they have a fancy name. Always love it when under-the-radar enterprise companies have ultra boring names, there was a missed opportunity here to call themselves "eBank Technologies" or "Transfer Networks" or something equally mundane.
Sounds like pokemon
How common are their losses for a fintech IPO?
This is the first time I've heard of nCino. I haven't seen it mentioned on HN before. Yet it's probably more successful than many of our own ventures might be. A good reminder to stay humble and to always keep business fundamentals in mind.
Oh, look, yet another company founded by an immigrant.
...
A $billion+ fintech unicorn nobody has ever heard of. This just reminds me that opportunities abound, especially to focus on particular workflows that are sometimes buried in the b2b world...