# CoreStory Raises $32 Million to Modernize the World’s Legacy Software with Agentic AI by [Ray Ploski](/content/author/ray-ploski/index.html) ‍ **_CoreStory’s Series A round, led by Tribeca Venture Partners, NEA, and SineWave Ventures, brings fresh momentum to the enterprise AI modernization market._** _‍_ The announcement marks a defining moment in enterprise software modernization. Trillions of lines of legacy code still power our banks, airlines, healthcare systems, and governments — but much of it is undocumented, aging, and nearly impossible to safely modify. CoreStory tackles that problem by using **agentic AI** to extract business logic, architecture, and workflows from legacy systems, turning them into structured “living specifications.” These machine-readable artifacts help developers and AI agents navigate complex systems confidently, reducing risk and accelerating change. Enterprises using CoreStory see a **50 percent reduction in manual engineering time** and faster ROI from modernization initiatives. In joint research with Microsoft, CoreStory’s approach made AI engineering agents **51 percent more accurate** than those relying on code alone — a result that translates directly into millions in saved labor and lower failure risk. _“Every time you swipe a card or make a claim, you’re depending on software written decades ago,”_ said **Anand Kulkarni**, CEO of CoreStory. _“Our platform makes that software understandable again and turns modernization from a cost center into a strategic asset.”_ For **Leo DeLuna, Partner at Tribeca Venture Partners**, _“CoreStory turns the biggest problem in enterprise IT into an AI-solvable one. Their customers aren’t just cutting cost, they’re recovering decades of institutional knowledge from code that once seemed untouchable.”_ **Aaron Jacobsen, Partner at NEA**, added that _“CoreStory is defining the foundation for agentic-powered software development. Their specifications bridge the gap between legacy complexity and the AI-assisted future.”_ **Yanev Suissa, Managing Partner at SineWave Ventures**, commented that _“Modernizing mission-critical systems is not just an IT initiative - it’s an economic and security imperative. CoreStory’s platform lets enterprises do this at scale and prove the results.”_ ### **Why Specification-Driven Development Matters** CoreStory is pioneering **Specification-Driven Development (SDD)** — a discipline that uses machine-readable specifications as the single source of truth for software evolution. By recovering specifications from existing code and embedding them into development workflows, CoreStory connects business intent to technical execution. This approach ensures that every system remains maintainable, auditable, and aligned with enterprise goals. The result: faster delivery, better governance, and significant ROI for the world’s most complex software estates. ‍ **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_](/content/site-root.html) _or follow_ [_CoreStory on LinkedIn_](https://www.linkedin.com/company/corestory/) _.