OpenGov, a Redwood City, CA-based provider of a cloud performance intelligence and financial transparency platform for government, raised $25m in funding.
Backers included existing investors Formation 8 Partners, Andreessen Horowitz, Thrive Capital, and AITV, as well as new investors Glynn Capital, Ashton Kutcher and Guy Oseary’s Sound Ventures, and Intuit founder Scott Cook. In conjunction with the funding, Marc Andreessen is joining OpenGov’s Board of Directors.
The company intends to use the funds to hire new talent, develop the OpenGov platform and expand its reach to every government in the U.S.
Founded in 2012 by Zac Bookman, CEO, OpenGov provides web-based solutions that equip government administrators with the tools they need to measure budget to actual expenditures, monitor financial operations and performance metrics, compare data across departments and with other governments, and streamline the budgeting process.
The OpenGov platform also enables public administrators to engage citizens and build trust through insight into their government’s finances.
The company currently serves more than 500 governments in 44 states.