GovInvest, a West Hollywood, CA-based provider of financial forecasting software for government, said it raised $18.6M in total funding to date.
The most recent $4m investment was led by Level Equity.
The company intends to use the funds to expand its team to support its accelerating client base and enhance products to meet customer demand.
Led by CEO Michael Fryke, GovInvest is focused on helping municipalities and their finance and human resources leaders streamline annual forecasting processes by automating complex analysis, enabling real-time scenarios, and increasing transparency in decision-making. Its new Compensation Benchmarking software enables public agencies to analyze how competitive they are with neighboring and comparable agencies, as well as ensure employees are appropriately compensated. It adds to the company’s existing Labor Costing, Pension Management, and OPEB (Other Post-Employment Benefits) Management products.
FinSMEs
15/11/2022