OpenGov Raises $51 Million to Fuel Government Technology Leadership

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Sep 03, 2019, 06:05 ET

REDWOOD CITY, Calif., Sept. 3, 2019 /PRNewswire/ -- Today, OpenGov, the leader in enterprise cloud solutions for government, announced a $51 Million Series D financing round led by experienced GovTech investors Weatherford Capital and 8VC, with participation from existing investor Andreessen Horowitz.

With this new round of funding, OpenGov has now raised more than $140 million from Andreessen Horowitz, 8VC, JC2 Ventures, Emerson Collective, and other top investors since its founding in 2012. The latest financing will be used to fuel OpenGov's 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.

"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."

In addition to its high-profile investors, OpenGov touts one of the strongest boards in all of technology, including Chairman Joe Lonsdale, Founding Partner of 8VC and Co-Founder of Palantir; Katherine August-deWilde, Co-Founder and Vice-Chair of First Republic Bank; John Chambers, Founder and CEO of JC2 Ventures and Former Chairman and CEO of Cisco Systems; Marc Andreessen, Co-Founder and General Partner of Andreessen Horowitz; and Zac Bookman, Co-Founder and CEO of OpenGov.

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.

About OpenGov

OpenGov is the leader in enterprise cloud solutions for government. 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.

Over 2,000 public agencies use OpenGov—including the State of Ohio; the City of Richmond, VA; and Lincoln, NE. OpenGov was founded in 2012, and is backed by Andreessen Horowitz, Emerson Collective, 8VC, Thrive Capital, and Weatherford Capital.

For more information, please visit www.opengov.com.

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