New Round of Funding Sees OpenGov Raise $51M
OpenGov, the firm that has as one of its co-founders Joe Lonsdale of Palantir fame, was successful in raising a new round of funding. The company is responsible for the production of cloud-based architecture designed to aid governmental and civic offices with organization and analysis of their data. This latest funding push brings the total amount of money raised by the company to $140M, with previous investors, including prominent names like Emerson Collective and JC2 Ventures.
The company has seen a massive amount of growth and can count on up to 2000 different offices as its current customer base. The numbers are a massive jump from their 2017 customer base figure of 1400, and probably has a lot to do with the increased concern for data transparency in public offices. Traditionally, governmental services are slow to operate, but OpenGov intends to change the way these administrative offices do business. By hosting data on a proprietary platform termed the OpenGov cloud, data can be accessed from any office that needs it instantaneously.
Changing the Stakes for the Public Sector
The including of a cloud software system within the public sector allows for more accountability and transparency within the system. The new round of investment further spurs the company to develop solutions that can be adapted into its clients’ operating procedures. The end goal that OpenGov is seeking is a more accountable government, with all data being readily available to all parties.
OpenGov doesn’t face a lot of competition in its field, so as long as it keeps the public interest its primary goal, it’s unlikely that competitors will arise. There are complementary software systems such as LiveStories that civic bodies can leverage to aid with the presentation of data to constituents. OpenGov’s dedication to developing its platform has seen it make several acquisitions to bring new technology into its development cycle. Giving voters the option to follow up on the doings of their representatives offers hope to many Americans who may feel sidelined by politicians after elections.
