citybiz+ Rhino.ai Raises $50 Million in Round Led by Koch Disruptive Technologies

Washington, D.C.-based Rhino.ai, which uses artificial intelligence to quickly haul legacy software applications to modern technology architectures, has raised $50 million in a Series A round led by Koch Disruptive Technologies. Last year, the startup took on consulting firm KPMG as a minority investor.

The startup was founded in 2023 by Adam Branch, who previously founded and led Incentive Technology Group (ITG). In 2020, ICF acquired ITG, which sells cloud-based software services to government.

“Transforming enterprise systems requires more than automating isolated tasks. Our platform manages the end-to-end process, from discovery to deployment, enabling organizations to seamlessly transition to modern architectures without the constraints of proprietary systems,” said Branch, an alumnus of Georgetown University and Harvard Business School.

“Rhino.ai’s innovative approach to legacy system modernization aligns perfectly with the urgent need for digital transformation across industries,” said Byron Knight, president of Koch Disruptive Technologies.

The Koch family’s venture arm — based in Wichita, Kan. — was founded by Chase Koch, who heads the firm and serves as executive vice president of Origination and Partnerships of the holding company Koch. Its portfolio includes Shiprocket, Celestial AI, Rivos, Alkira and Gideon.

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Beyond Copilots
Rhini.ai says its technology leverages large language models but goes beyond conventional AI copilots. Its collaborative platform can carry organizations through an “AI-powered modernization lifecycle,” it says. Rhino.ai’s intelligent platform combines so-called agentic AI with human expertise to analyze complex legacy systems and automatically generate modernized applications.

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The key to Rhino.ai’s platform is speed, with the potential to save millions of dollars for organizations with legacy technologies. It works on applications across diverse architectures, including low-code/no-code environments, microservices and systems on platforms like AWS, GCP, Azure, or open-source frameworks. The company says its technology extracted savings of up to 80% in costs, besides slashing development times, for government, an unnamed Fortune 500 company and an unidentified airline.

According to Rhino.ai, the global market for legacy system transformation is predicted to hit $583 billion by 2027.