Rhino.AI Announces Minority Equity Investment from KPMG US to Advance AI-Driven Application Modernization

Washington, D.C.--(Newsfile Corp. - August 1, 2024) - Rhino.ai, a pioneer in AI-enabled solutions for application modernization and generation, today announced a minority equity investment from KPMG US, the audit, tax and advisory firm.

The minority equity investment follows the alliance that KPMG and rhino.ai formed in October 2023 aimed at helping companies move from outdated technology to modern, user-friendly platforms. The collaboration combines KPMG's consulting expertise with AI-based solutions from rhino.ai, offering clients enhanced efficiency and new automation capabilities. Following the alliance last year, KPMG and rhino.ai are helping multiple companies modernize their legacy estates with a faster time to value and lower costs.

"We are thrilled to continue our collaboration with KPMG," said Adam Branch, founder and CEO of rhino.AI. "Since the inception of the alliance, we've witnessed significant value from initial implementations across clients. This is a testament to our shared vision that organizations driving outcomes through AI will lead the future of digital transformation. The rhino.AI platform is redefining application development, and KPMG services enhance impact."

"By integrating Rhino.ai's AI-driven solutions with KPMG's expertise, we're changing the calculus on technology modernization, fundamentally altering the speed, cost, and effectiveness of digital transformation," said Todd Lohr, Head of Technology Consulting, KPMG US.

Rhino.ai facilitates the seamless migration of applications and workflows from traditional legacy systems and the scalable generation of new applications on modern Platform-as-a-Service (PaaS) environments such as ServiceNow, OutSystems, Unqork, Appian, PEGA, and MS PowerApps.

Rhino.ai continues to gain traction among large enterprises looking to shed outdated technology and enhance operational efficiency. The company remains focused on developing advanced solutions that address the dynamic, evolving needs of global businesses.

"We are thrilled to invest in rhino.ai, a pivotal tool for companies looking to move beyond outdated legacy applications. Rhino.ai provides a key enabler for KPMG's forward-thinking and innovative solutions, designed to support clients through the complexities of digital transformation," said Andrew Matuszak, Managing Director, KPMG Ventures.

About rhino.ai:

Rhino.ai is an AI-enabled software platform that accelerates technology consulting and automates enterprise application development and modernization. With a focus on innovation, rhino.ai helps businesses across industries reduce costs, improve operations, and achieve greater competitiveness. Learn more at https://rhino.ai

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218454