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OpenGov Acquisition, Valuation, Funding & Investors
OpenGov was acquired by Cox Enterprises for $1.8B in February 2024.
OpenGov acquisition price
$1.8B
Acquired by Cox Enterprises · Feb 2024
Cumulative funding OpenGov raised
$175M
across 6 funding rounds
Key investors in OpenGov
Andreessen Horowitz
Thrive Capital
Formation 8
Sway Ventures
8VC
Streamlined
Cota Capital
LeFrak
About OpenGov
OpenGov is a Redwood City-based cloud software provider for local governments and state agencies, specializing in budgeting, procurement, and permitting modules. Used by 1,500 municipalities including San Francisco and Phoenix, its Permitting & Licensing app processes 10 million applications yearly. Launched in 2012, OpenGov integrates with ESRI GIS for community development workflows.
Founded
2012
HQ
Website
Status
Acquired
Customer focus
B2G
Revenue model
Subscription
Valuation
$1.8B (Feb 2022)
OpenGov Acquisition
OpenGov was acquired by Cox Enterprises for $1.8B on 27 February 2024.
Before the acquisition OpenGov had raised $175M across 6 funding rounds.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 27 Feb 2024 | Strategic M&A | $1.8B |
OpenGov Valuation
OpenGov is currently valued at $1.8B, based on its undisclosed-stage round in February 2022.
The $50M round was led by Cox Enterprises, with participation from Alumni Ventures.
OpenGov's valuation has grown 30x from $60M at its Series B in July 2013 to $1.8B in February 2022, across 2 priced rounds.
OpenGov valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Feb 2022 | Undisclosed stage | $1.8B |
| Jul 2013 | Series B | $60M |
OpenGov Funding History
OpenGov has raised a total of $175M across 6 funding rounds.
OpenGov's first fundraising round was a $4M Series B in July 2013. The most recent completed round was a $50M undisclosed-stage round in February 2022.
OpenGov funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Feb 2022 | Undisclosed stage | Cox Enterprises (lead); Alumni Ventures | $50M | $1.8B | - |
| Sep 2019 | Series D | 8VC (lead); Weatherford Capital (lead); Streamlined; Andreessen Horowitz; Cota Capital | $51M | - | OpenGov is an enterprise cloud software platform providing government agencies with end-to-end budgeting, performance, communications, and reporting solutions. The company, co-founded by Joe Lonsdale of Palantir, serves over 2,000 government customers across federal, state, and local levels. Recent partnerships announced at the time of this round included the State of West Virginia, State of Oklahoma, Idaho State Controller's Office, City of Minneapolis, and Suffolk County New York. In September 2019, OpenGov closed a $51 million Series D financing round led by Weatherford Capital and 8VC, with participation from existing investor Andreessen Horowitz. This brought total funding raised since founding in 2012 to over $140 million from investors including Andreessen Horowitz, 8VC, JC2 Ventures, Emerson Collective, and others. CEO Zac Bookman stated the investment validated OpenGov's position as the leader in enterprise cloud solutions for government and would fuel development of mission-critical technology. The company assembled a prominent board including Joe Lonsdale, Marc Andreessen, John Chambers (former Cisco CEO), and Katherine August-deWilde (First Republic Bank co-founder). |
| May 2017 | Series C | Emerson Collective (lead); Expanding Capital; Cthulhu Ventures; 8VC; Titanium Ventures; ACME Capital; Andreessen Horowitz; Cota Capital; Blue Ivy Ventures; LeFrak; Thrive Capital; Sway Ventures | $30M | - | OpenGov is a government transparency and performance management software company providing cloud-based solutions like the Smart Government Cloud for budgeting, reporting, open data, operational intelligence, and civic engagement to over 1,500 U.S. government entities as of May 2017, having doubled its customer base since the prior year. The company announced a $30 million Series C funding round on May 16, 2017, led by Emerson Collective, with participation from investors including 8VC, ACME Capital, Andreessen Horowitz, and others, bringing total funding raised since its 2012 founding to over $75 million. Funds were allocated to engineering, sales, marketing, and product development to expand its footprint and support government performance management amid trends in civic engagement and open data. OpenGov's growth aligned with increasing government interest in monitoring performance and budgets, exemplified by partnerships like with West Virginia State Auditor to address a $497 million deficit. The Series C followed prior rounds and preceded later financings, such as a $51 million Series D in 2019 led by Weatherford Capital and 8VC, which brought total funding to $140 million. Post-Series C, OpenGov acquired Peak Democracy to enhance citizen engagement via Open Town Hall integration and previously acquired Ontodia for open data management. |
| Oct 2015 | Series B | Andreessen Horowitz (lead); Sound Ventures; CSC Upshot; Formation 8; Thrive Capital; Glynn Capital Management; Sway Ventures; Scott Cook | $25M | - | OpenGov is a Redwood City, California-based enterprise cloud software platform that provides financial reporting and transparency tools to state and local governments. The company's web-based solutions enable government administrators to funnel financial data into a centralized system, allowing them to share information internally with government employees or externally with the public for transparency purposes. Customers use the platform primarily to track government spending but also to visualize other metrics such as water consumption trends and 311 call patterns. In October 2015, OpenGov announced the close of a $25 million funding round, which the company referred to as a Series C investment, though earlier sources labeled a previous round as Series B. The round was led by Andreessen Horowitz and included participation from prior investors Formation8, Thrive Capital, and AITV, along with new investors including Glynn Capital, Intuit founder Scott Cook, and Ashton Kutcher and Guy Oseary's Sound Ventures. The round was notable for bringing venture capital legend Marc Andreessen onto OpenGov's board of directors. At the time of the funding announcement, OpenGov served over 500 government customers across 44 U.S. states, including major cities such as Palo Alto, Miami, and Pittsburgh, with a customer base that had doubled in the previous year. The company planned to use the capital to expand its sales organization and continue scaling adoption among local governments while further developing its platform capabilities. |
| May 2014 | Series B | Andreessen Horowitz (lead); Group 11; Streamlined; Formation 8; LeFrak; Thrive Capital; Sway Ventures | $15M | - | OpenGov is a cloud-based software platform that helps local governments visualize, analyze, and manage their budgets and spending data. The company provides interactive graphics and reporting tools to replace archaic spreadsheet-based systems used by municipalities, enabling government officials to identify spending trends and inefficiencies while increasing transparency to constituents. In May 2014, OpenGov closed a $15 million Series B funding round led by Andreessen Horowitz, with participation from Thrive Capital and Formation 8. This round represented Andreessen Horowitz's first investment in the civic technology space. At the time of the funding, OpenGov had approximately 100 clients across cities of varying sizes, including Los Angeles, and served a potential market of 90,000 to 100,000 local government entities in the United States. The company's software was offered at an affordable price point, with annual contracts ranging from thousands to low tens of thousands of dollars depending on client size, making it accessible even to municipalities with constrained budgets. |
| Jul 2013 | Series B | Formation 8 (lead); Thrive Capital (lead); Valiant Capital Partners; Pathfinder; Signatures Capital; Goldcrest Investments; Signature Capital Securities | $4M | $60M | OpenGov raised $19.12 million in a Series B funding round on July 3, 2013, led by Formation 8 with participation from Goldcrest Investments and others, at a post-money valuation of $59.85 million. The company provides transparency software for governments to access, analyze, and share financial data. This Series B followed a $3 million Series A round in 2012 involving Formation 8, Signature Capital, Goldcrest Investments, Founders Collective, and angels including T.J. Rodgers. OpenGov's platform enables senior executives to view trends, drill into transaction details, compare spending to budgets, and share data publicly to build trust. |
Who has invested in OpenGov?
27 investors have backed OpenGov across its funding rounds, including Andreessen Horowitz, Thrive Capital, Formation 8, Sway Ventures, 8VC and Streamlined.
Lead investors include Cox Enterprises, 8VC, Weatherford Capital, Emerson Collective, Andreessen Horowitz and 2 other investors.
OpenGov Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | May 2014 | ||
| 4 | Lead | Jul 2013 | ||
| 3 | Lead | Jul 2013 | ||
| 3 | Participant | May 2014 | ||
| 2 | Participant | May 2014 | ||
| 2 | Lead | May 2017 | ||
| 2 | Participant | May 2017 | ||
| 2 | Participant | May 2014 | ||
| 1 | Participant | May 2014 | ||
| 1 | Participant | Oct 2015 | ||
| 1 | Participant | Oct 2015 | ||
| 1 | Lead | May 2017 | ||
| 1 | Participant | May 2017 | ||
This data is available for Pro users. Sign up to see all 27 OpenGov investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by OpenGov
OpenGov has acquired 8 companies to date.
Last acquisition by OpenGov was on February 11th 2025. OpenGov acquired Ignatius for undisclosed valuation.
Latest Acquisitions by OpenGov
| Description | Ignatius is a Platform-as-a-Service provider streamlining solutions for U.S. state and local governments. It facilitates federal funds management, custom software development, data optimization, and community engagement tools. The platform integrates resource tracking and reporting for public sector programs, reducing administrative burdens. Available at ignatius.io, Ignatius supports agencies in grant administration and citizen services. | iGov Services supplies web-based tax collection software via GovCollect platform, enabling government agencies to process payments and manage revenue streams online. | Cartegraph is a SaaS provider of asset management solutions for local governments. Its platform optimizes infrastructure maintenance, work orders, and resource allocation for roads, parks, and facilities. Headquartered in Waterloo, Iowa, Cartegraph uses data analytics for lifecycle planning. Acquired by Trimble in 2016, it serves over 1,000 agencies across North America with mobile apps for field teams. The company combines software with consulting for comprehensive operations improvement. | ProcureNow is a government procurement platform, formerly Govlist, aiding local governments and vendors in the United States. Its intuitive interface guides users through solicitation drafting, publishing, and evaluation using workflows derived from best practices of leading procurement teams. Customizable templates support RFPs, RFQs, and bids, with bid tabulation, vendor scoring, and e-signing to accelerate awards for public works, services, and supplies. | |
| HQ Country | |||||
| HQ City | Newport, RI | Cincinnati, KY | Dubuque, IA | San Francisco, CA | |
| Deal Date | 11 Feb 2025 | 1 May 2024 | 27 Jul 2022 | 23 Jun 2021 | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all OpenGov acquisitions and their M&A valuation multiples. Start Free Trial | |||||
OpenGov Competitors
OpenGov competitors include listed companies like Blackbaud, Secunet and Cellebrite, and private ones like Govini, Mark43 and RapidSOS.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $1.1B | $278M | $2B | 2.7x | ||
| Publicly listed | $528M | $86M | $1.5B | 2.6x | ||
| Publicly listed | $476M | $79M | $3B | 4.8x | ||
| Private | $100M | - | $1B | 10.0x | ||
| Private | - | - | $1B | - | ||
| Private | - | - | $1B | - |
OpenGov Public Comps
OpenGov is no longer listed, but its public comps include Blackbaud, Secunet, Beijing eGova, Fujian Boss Software, e-Hualu, Guotai Epoint Sofware, Jiuyuan Yinhai, Cellebrite, Fujian Rongji Software and Linewell Software.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.1B | $278M | 2.7x | 2.7x | 11.1x | 7.2x | |||
| $528M | $86M | 2.8x | 2.6x | 17.3x | 16.3x | |||
| $90M | ($52M) | 8.4x | - | (14.5x) | - | |||
| $299M | $40M | 2.8x | 2.9x | 21.1x | 21.0x | |||
| $69M | ($310M) | 24.1x | - | (5.4x) | - | |||
| $274M | $14M | 1.3x | 1.4x | 26.2x | 25.3x | |||
| $184M | $22M | 4.0x | 4.1x | 33.3x | 33.7x | |||
| $476M | $79M | 5.4x | 4.8x | 32.3x | 17.3x | |||
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Common questions about OpenGov
| When was OpenGov founded? | OpenGov was founded in 2012. |
| Where is OpenGov headquartered? | OpenGov is headquartered in San Jose, CA, United States. |
| Is OpenGov publicly listed? | No, OpenGov was acquired by Cox Enterprises in February 2024. |
| Who acquired OpenGov? | OpenGov was acquired by Cox Enterprises in February 2024. |
| How much was OpenGov acquired for? | OpenGov was acquired for $1.8B in February 2024. |
| What is OpenGov's valuation? | OpenGov was last valued at $1.8B in its undisclosed-stage round in February 2022. |
| How much funding has OpenGov raised? | OpenGov has raised $175M across 6 funding rounds. |
| What was OpenGov's last funding round? | OpenGov's last funding round was a $50M undisclosed-stage round in February 2022, led by Cox Enterprises. |
| Who are OpenGov's investors? | OpenGov's investors include Andreessen Horowitz, Thrive Capital, Formation 8, Sway Ventures, Streamlined, 8VC, Cota Capital, LeFrak, Group 11, Sound Ventures and 17 others. |
| Which companies are comparable to OpenGov? | Companies comparable to OpenGov include Blackbaud, Secunet, Cellebrite, Govini, Mark43 and RapidSOS. |
| How many companies has OpenGov acquired? | OpenGov has acquired 8 companies, including Ignatius, iGov Services, Cartegraph, ProcureNow and ClearRec. |
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