OpenGov, the firm co-founded by Palantir’s Joe Lonsdale that assists governments and other civic bodies to organize, analyze and present several financial and other data using cloud-based architecture. The company has raised another round of funding through its expansion in business, the startup has also picked up an additional $51 million in Series D funding that is led by Weatherford Capital and 8VC with the addition of earlier investor- Andreessen Horowitz. The new round of funding is all set to raise the total valuation to $140 million of company. The company has differed in discussing any news about its valuation.
The company has several prominent members in board of directors that includes 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. OpenGov added that it has more than 2,000 governments customers. With recent additions including the list of State of West Virginia, Idaho State Controllers office State of Oklahoma, Suffolk County NY and City of Minneapolis. The governments rising requirement of additional cloud solutions is seen as need of digital transformation.
Governments data is generally related associated with legacy systems that are quite crippling with slow bureaucratic processes. It has brought the required opportunity to many of the startups looking to leveraging the growth of cloud services that present several of the solutions that are tailored based on the needs of several civic organizations. Many of the city planners are looking to finance specialists in case of OpenGov; it packages its services in a platform it calls the OpenGov Cloud. OpenGov mission is to power more effective and accountable government that is driving innovation and transformation for public speed is going at high speed.