What is OpenGov?
Founded in 2012 and headquartered in San Jose, California, OpenGov specializes in delivering cloud-based software solutions tailored exclusively for government entities. The company aims to modernize public sector operations by providing tools for budgeting, performance management, and financial transparency. OpenGov's platform addresses the unique challenges faced by government agencies, enabling them to operate more efficiently and effectively. The company's focus on this niche market has positioned it as a key player in government technology transformation.
How much funding has OpenGov raised?
OpenGov has raised a total of $109M across 4 funding rounds:
Series A
$3M
Series B
$25M
Series C
$30M
Series D
$51M
Series A (2012): $3M with participation from Lefrak Organization, Pankaj Shah, Safa Rashtchy, and Alex Bresler
Series B (2015): $25M led by Thrive Capital, Andreessen Horowitz, Formation8, and Sway Ventures
Series C (2017): $30M supported by Emerson Collective
Series D (2019): $51M featuring 8VC and Weatherford Capital Management
Key Investors in OpenGov
8VC
8VC is a leading technology investment firm that backs industry-transforming companies, with a focus on smart enterprise platforms across various sectors. Their partners have a strong track record as founders and operators of successful tech companies.
Andreessen Horowitz
Andreessen Horowitz is a prominent venture capital firm that invests in both early-stage startups and established growth companies, known for its strategic approach to technology investments.
Thrive Capital
Thrive Capital is an investment venture capital company that primarily deals in internet and software investments, operating out of New York.
What's next for OpenGov?
With substantial enterprise-level backing and a recent strategic investment, OpenGov is poised for accelerated growth. The company is likely to leverage this capital to enhance its product offerings, expand its market reach within the public sector, and potentially explore new technological integrations. The ongoing investment signals strong confidence from backers in OpenGov's mission to digitize and improve governmental operations, suggesting a trajectory towards broader adoption and deeper penetration into municipal, state, and federal markets. Future developments may include expanding its suite of analytics and citizen engagement tools.
See full OpenGov company page
