Cloud startup OpenGov secures $51 million Series D to accelerate growth of its enterprise cloud solutions for government
OpenGov, a tech startup that provides complete enterprise cloud solutions for government, has raised a $51 Million Series D financing round to fuel its growth as the company continues to develop and go to market with best-in-class technology, including end-to-end budgeting, performance, communications, and reporting solutions for government.
The round was led by GovTech investors Weatherford Capital and 8VC, with participation from existing investor Andreessen Horowitz. Since its inception in 2012, OpenGov has now raised more than $140 million from Andreessen Horowitz, 8VC, JC2 Ventures, Emerson Collective, and other top investors.
Founded in 2012 by Dakin Sloss, Joe Lonsdale, Mike Rosengarten, Nate Levine, and Zac Bookman, the Redwood City, California-based OpenGov provides a complete cloud solution for public sector budgeting, performance management, and citizen engagement. Over 2,000 governments leverage OpenGov today as the public sector continues to adopt The OpenGov Cloud™ in record numbers. The company has recently announced partnerships with the State of West Virginia, the State of Oklahoma, the Idaho State Controller’s Office, the City of Minneapolis MN, and Suffolk County NY.
The OpenGov Cloud is the only integrated cloud solution for budgeting, performance, communications and reporting. This multi-tenant Software-as-a-Service (“SaaS”) solution connects stakeholders to the budget process, engages them for real-time feedback, accurately forecasts personnel costs, and integrates with key government systems, resulting in improved outcomes, enhanced internal efficiencies, and more time for strategic planning.
“OpenGov’s mission to power more effective and accountable government is driving innovation and transformation for the public sector at high speed,” said OpenGov CEO Zac Bookman. “This new investment validates OpenGov’s position as the leader in enterprise cloud solutions for government, and it fuels our ability to build, sell, and deploy new mission-critical technology that is the safe and trusted choice for government executives.”
Will Weatherford, former Speaker of the House for the State of Florida and Managing Partner of Weatherford Capital, said, “OpenGov’s innovative technology, accomplished personnel, market leadership, and mission-first approach precisely address the growing challenges inherent in public administration. We are thrilled at the opportunity to partner with OpenGov to accelerate its growth and continue modernizing how this important sector operates.”