About Modern Systems
Modern Systems is a company based in Dallas (United States) founded in 2001, and was acquired by Advanced in April 2019. It operates as a provider of application modernization services. Modern Systems has raised $5.16 million across 2 funding rounds from investors including OneAdvanced. Modern Systems has completed 1 acquisition, including Asna. Its chief executive is Brandon Edenfield.
Company details
Modern Systems provider of application modernization services through providing essential services. Prioritizing client-centric approaches, it ensures high-quality outcomes and sustainable practices. It continues to evolve, meeting industry challenges with strategic approaches and commitment to quality.
- Headquarters Dallas, United States
- Website modernsystems.com
- Social LinkedIn X Facebook
- Acquired by Advanced (Apr 2019)
- Annual Revenue$10.98 M (USD)12as on Dec 31, 2016
- Net Profit-$12.18 M (USD)-109as on Dec 31, 2016
- EBITDA-$12.65 M (USD)-154as on Dec 31, 2016
- Total Equity Funding$5.16M (USD)
in 2 rounds
- Latest Funding Round$1M (USD), Series A
Jan 2016
- Investors
- Investments & Acquisitions
- Acquired byAdvanced
(Apr 2019)
Funding Insights of Modern Systems
Modern Systems has successfully raised a total of $5.16M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $1 million completed in January 2016. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $5.16M
- Total Rounds 2
- Last Round Series A — $1M
- First Round $4.16M
(Oct 2009)
All 2 funding rounds of Modern Systems with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan 2016 | $1M | Series A | – | – | – |
| Oct 2009 | $4.16M | Series A | – | – | – |
1 investors in total: 1 institutional.
Investors in Modern Systems
Modern Systems has secured backing from 1 investor. Prominent investors backing the company include OneAdvanced.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Cloud-based enterprise resource planning software is provided for businesses worldwide. | 1983 | oneadvanced.com | Slough, United Kingdom |
Investor details for Modern Systems
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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People of Modern Systems
1 people are tracked at Modern Systems (1 in leadership).
| Name | Role | Group |
|---|---|---|
Brandon Edenfield | CEO & President | Leadership |
Complete people profiles for Modern Systems
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- Full employee list
- Team structure
- Board tenure
- Professional contacts
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Investments & Acquisitions by Modern Systems
Modern Systems has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Asna.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Mobile application development, application modernization, extension and migration | asna.com | Valles, Spain | 1982 | Aug 2007 | •••• |
Complete acquisition details for Modern Systems
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- Acquired stakes
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- Exports
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Timeline of Modern Systems
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Frequently Asked Questions about Modern Systems
Modern Systems was founded in 2001 and raised its 1st funding round 8 years after it was founded.
Modern Systems is headquartered in Dallas, United States. It is registered at Dallas, Texas, United States.
Brandon Edenfield is the current CEO of Modern Systems.
Modern Systems is a funded company, having raised a total of $5.16M across 2 funding rounds to date. The company's 1st funding round was a Series A of $4.16M, raised on Oct 2009.
Annual revenue of Modern Systems is $10.98M as on Dec 31, 2016.
Modern Systems provider of application modernization services through providing essential services. Prioritizing client-centric approaches, it ensures high-quality outcomes and sustainable practices. It continues to evolve, meeting industry challenges with strategic approaches and commitment to quality.
Modern Systems has made 1 acquisition, including Asna.
Modern Systems has 1 investor. Key investors include OneAdvanced.
Yes. Modern Systems was acquired by Advanced in April 2019.