Cox Enterprises, a major investor in emerging businesses with a focus on government tech, has acquired San Francisco-based OpenGov in a deal that values the latter at $1.8 billion. While the exact investment amount remains undisclosed, the transaction makes Cox a majority shareholder in OpenGov, positioning it as one of the largest investments in gov tech history. OpenGov's CEO, Zac Bookman, expressed the company's commitment to leveraging this substantial investment to accelerate product development and advance their mission, emphasizing a dedication to improving communities for generations to come. OpenGov, specializing in software for budgeting, planning, procurement, and more, retains its workforce and leadership under Cox's majority ownership, with plans to fill over 70 open roles.
OpenGov, founded in 2012 and having raised at least $178 million, counts around 1,900 customers across all 50 states, offering tools for permitting, asset management, and reporting. The acquisition highlights the growing appeal of cloud-based and AI-backed services for state and local agencies, reflecting the influx of capital into the government technology sector. This strategic move aligns with Cox Enterprises' broader investments in gov tech, showcasing the company's commitment to driving innovation and modernization in the government technology landscape.
