US-based cloud-based digital banking solutions provider Alkami Technology has raised $55m in a Series E funding round.

The latest round was led by General Atlantic along with MissionOG. The company’s existing investors S3 Ventures and Argonaut Private Equity also participated in the funding round.

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Since its establishment, the company has raised more than $225m in capital including the latest investment. Alkami plans to utilise the new funding to support innovation and growth.

Alkami CEO and director Mike Hansen said: “We are very honoured and excited about the support of our existing investors evidenced again by this round.

“Their long-term commitment and support has allowed us to continue to boldly invest in innovation, people, and best-in-class service.”

The company focuses on bolstering digital banking capabilities of US-based banks and credit unions. Its digital platform allows the clients to personalise the digital banking services to improve customer engagement and drive user experience.

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The Alkami Platform is said to be used by more than 130 financial institutions across the country. It clients have more than six million registered users on the Alkami platform.

General Atlantic vice-president Raph Osnoss said: “Alkami continues to experience incredible growth as a leader in the large and growing digital banking market.

“We believe Alkami will continue to drive the industry forward with new innovations in user experience, product features, platform architecture, and data security.”