A cloud-based banking software company based in Wilmington, North Carolina, has raised $17.8 million in a private equity offering, according to a filing Tuesday with the Securities and Exchange Commission.

nCino Inc. raised the money from three investors, according to the filing.

The company also raised $15.7 million in June 2016 and $29 million in February 2015.

The company was started in 2012 by bankers and entrepreneurs who found the commercial lending process to be inefficient and time-consuming.

Led by James (Chip) Mahan III, the CEO of Live Oak Bancshares Inc., this team recognized the need for secure cloud-based solution that would enable banks to increase transparency, efficiency and profitability while ensuring regulatory compliance.

The nCino Bank Operating System filled that void at Live Oak and soon attracted interest from other financial institutions.

Earlier this month, Pacific Western Bank, headquartered in Beverly Hills, California, became its 100th live customer. The company currently has more than 150 customers in multiple counties, with assets ranging from $200 million to $2 trillion.

Pierre Naudé is the chief executive officer of the company. He oversees strategy, sales, marketing, professional services, customer support and product engineering.

Under his leadership, nCino has become one of the fastest-growing financial technology companies in the U.S. and has been featured by top publications such as Forbes, Entrepreneur and American Banker.

Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.