We’ve come a long way since govWorks blew through $60 million in funding in the late 90s in their attempt to provide process management software to local governments. Twenty years later, OpenGov is succeeding in deploying IT functions in the cloud in order to make running a government more efficient. Its software enables better budgeting, improved operational intelligence and comprehensive open data. To tackle selling into government organizations, OpenGov is led and backed by prominent individuals in tech, venture capital and government.
The company was co-founded by Palantir’s Joe Lonsdale who is now chairman of OpenGov. Joe is also a founding partner at 8VC, a technology investment firm. In addition, he co-founded and serves as chairman of Addepar, a wealth management software company, not to mention co-founding Palantir Technologies in 2004. Joe graduated from Stanford University in 2003 and was a two-time scholastic state chess champion.
OpenGov is backed by notables including Andreessen Horowitz and Founders Fund. Another one of its investors Weatherford Capital is led by managing partner Will Weatherford, who is the former Speaker of the House for the State of Florida.
Recently, the company raised an additional $51 million with Weatherford Capital participating. Will states, “OpenGov’s innovative technology, accomplished personnel, market leadership, and mission-first approach precisely address the growing challenges inherent in public administration,” further adding, “We are thrilled at the opportunity to partner with OpenGov to accelerate its growth and continue modernizing how this important sector operates.”
OpenGov CEO Zac Bookman also provided commentary, “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 in a statement. “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.”
The company has been successful in expanding rapidly over the last seven years, particularly considering they are selling into slow-to-change, slow-to-adopt technology bureaucracies. Over 2,000 public agencies in 48 states use OpenGov software. Founded in 2012, the company counts customers that include the State Treasurer of Ohio, the city of Minneapolis, MN, Maricopa County, AZ, and Washington, DC.