CM First Group, a software company, announced it has raised $1.2 million in funding.

The Austin-based company plans to use the funds for the expansion of its software tools and services.

The Central Texas Angel Network and Lone Rock Technology Group with Capital Factory participating led the investment.

CM First appointed Clint Whitaker of CTAN and Joel Trammel of Lone Rock to its board of directors.

“Over our successful six-year history, we’ve helped more than 400 clients modernize billions of lines of code,” John Rhodes, managing director of CM First, said in a news release. “The additional funding supports our continued growth and will enable us to help thousands more enterprises confidently modernize through the best possible understanding of their applications.”

CM First’s software enables information technology architects to understand and migrate the business rules and systems of large complex software applications.

“We are excited to be involved with helping CM First take the next step,” Trammel, deal lead for Lone Rock Technology Group said in a news release. “The hardest challenges in IT often revolve not around doing new things but in upgrading existing systems to meet new business challenges. We believe CM First has the best solution for solving these difficult problems.”

CM First’s products include “CM evolveIT, which automatically analyzes and mines business rules from mainframe applications, and CM M3, which automates the transformation of CA 2E applications to modern platforms using CA Plex, Java/.Net and the cloud,” according to a news release. Its customers include T. Rowe Price, Foot Locker and others in financial services, insurance, healthcare, retail and government.