OpenGov enables officials and citizens to access government financial data so they can improve trust and dialogue between cities and citizens.
General company ifno:
Year of founded: 2012
Zip Code: 94043
Employees: 11-50
In sector: Governance
Revenue Sources: Subscriptions
Social Impact:
Description:
OpenGov.com builds a web-based platform for state and local government financial data. Legacy accounting systems run on computer code written thirty years ago. These enterprise tools inhibit city administrators, department heads, elected officials, and citizens from directly accessing important budget and financial data. OpenGov.com solves this pain point by offering governments a flexible, powerful software-as-a-service platform.
The OpenGov Platform provides instant access to the budget and visualizes current and historic revenue and expenses‚ from multi-year trends to object-level details. Government officials and citizens use the platform to understand, analyze, and share the financial information.
Comprised of technologists, Silicon Valley entrepreneurs, and government finance experts, OpenGov.com brings affordable and user-friendly financial applications to governments of all sizes. The software-as-a-service platform improves data access, financial decision-making, and builds trust with citizens.
Financial Info:
OpenGov raised approximately $7 million in venture funding since its founding, having received the first $3 million in July 2012. Those contributing to the Series A round were Formation 8, FF Angel, Founders Collective and prominent angels. Thrive Capital and Valiant Capital led the $4 million July 2013 bridge note along with participation from existing investor Formation 8. The municipal government IT market is a multi-billion dollar sector and OpenGov plans to drive its revenues by offering a sound, focused product that will address the market needs.