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The founding of OpenGov Inc. in 2012 was influenced by the governmental inefficiencies revealed during the 2008 financial crisis.
Answer: True
Explanation: OpenGov Inc. was established in 2012 as a direct response to the economic challenges and governmental inefficiencies that became apparent following the 2008 financial crisis.
Nate Levine, Dakin Sloss, Joe Lonsdale, and Zachary Bookman are identified as the co-founders of OpenGov Inc.
Answer: True
Explanation: The company was co-founded by Nate Levine, Dakin Sloss, Joe Lonsdale, and Zachary Bookman, who were motivated by a shared vision for improving public sector operations.
The founders of OpenGov aimed to improve public sector fiscal responsibility by providing better tools for financial management.
Answer: True
Explanation: A core aim of OpenGov's founders was to enhance public sector fiscal responsibility through the provision of improved financial management tools.
When was OpenGov Inc. established?
Answer: 2012
Explanation: OpenGov Inc. was established in 2012.
Who are the identified co-founders of OpenGov Inc.?
Answer: Nate Levine, Dakin Sloss, Joe Lonsdale, Zachary Bookman
Explanation: The co-founders of OpenGov Inc. are Nate Levine, Dakin Sloss, Joe Lonsdale, and Zachary Bookman.
What was the primary impetus for the founding of OpenGov?
Answer: A response to inefficiencies highlighted by the 2008 financial crisis.
Explanation: The founding of OpenGov was primarily driven by a response to the governmental inefficiencies exposed by the 2008 financial crisis.
OpenGov Inc. is a publicly traded entity specializing in software solutions for the private sector.
Answer: False
Explanation: OpenGov Inc. is a privately held technology company focused on providing cloud-based solutions for government entities, not private sector businesses.
OpenGov's long-term objective was to develop a software solution primarily for the healthcare industry.
Answer: False
Explanation: OpenGov's long-term objective was to create a modern, cloud-based enterprise resource planning (ERP) system tailored specifically for local and state governments, not the healthcare industry.
OpenGov Inc. operates within the financial services industry, offering trading platforms.
Answer: False
Explanation: OpenGov Inc. operates within the enterprise software industry, specializing in solutions for government entities, rather than the financial services industry or trading platforms.
OpenGov provides modules for budgeting, planning, financial management, and citizen services to its government clients.
Answer: True
Explanation: OpenGov offers a suite of cloud-based ERP solutions for governments, including modules for budgeting, planning, financial management, and citizen services.
ERP, in the context of OpenGov, stands for 'Electronic Records Processing'.
Answer: False
Explanation: In the context of OpenGov's offerings, ERP stands for Enterprise Resource Planning.
OpenGov structures its subscription services based on the number of products utilized and the number of employees requiring access.
Answer: True
Explanation: OpenGov's subscription services are typically structured based on the number of products utilized by an entity and the number of employees requiring access to the software.
The 'See also' section of the OpenGov article lists 'Cybersecurity' as a related topic.
Answer: False
Explanation: The 'See also' section of the OpenGov article lists 'E-government' as a related topic, not 'Cybersecurity'.
OpenGov's commitment to open data principles is demonstrated by its software enabling governments to share financial information with citizens.
Answer: True
Explanation: OpenGov's software facilitates the sharing of financial and operational data, reflecting its commitment to open data principles and increasing transparency for citizens.
An integrated cloud ERP system offers local governments the advantage of consolidating various functions into a single, modern platform.
Answer: True
Explanation: The strategic advantage of an integrated cloud ERP system for local governments lies in its ability to consolidate diverse functions into one cohesive and modern platform.
What is the primary business focus of OpenGov Inc.?
Answer: Providing cloud-based enterprise software solutions for government entities.
Explanation: OpenGov Inc.'s primary business focus is on providing cloud-based enterprise software solutions tailored for government entities.
Which of the following is NOT listed as a key product offering by OpenGov?
Answer: Citizen Relationship Management (CRM) software
Explanation: OpenGov's key product offerings include modules for budgeting, planning, financial management, and citizen services. Citizen Relationship Management (CRM) software is not listed as a primary offering.
What does ERP stand for in the context of OpenGov's offerings?
Answer: Enterprise Resource Planning
Explanation: In the context of OpenGov's solutions, ERP stands for Enterprise Resource Planning.
On what basis does OpenGov typically structure its subscription services?
Answer: Number of products utilized and number of employees needing access.
Explanation: OpenGov typically structures its subscription services based on the number of products utilized and the number of employees requiring access.
What is the strategic advantage of OpenGov's integrated cloud ERP system for local governments?
Answer: It consolidates various functions into a single, modern platform.
Explanation: The strategic advantage of OpenGov's integrated cloud ERP system is its ability to consolidate diverse governmental functions into a single, modern platform.
OpenGov acquired Ontodia in April 2016 to enhance its public engagement capabilities.
Answer: False
Explanation: OpenGov acquired Ontodia in April 2016 to enhance its Reporting & Transparency suite by integrating open data solutions, not specifically public engagement capabilities.
The acquisition of Peak Democracy in October 2017 added tools for public engagement and citizen feedback to OpenGov's offerings.
Answer: True
Explanation: The acquisition of Peak Democracy in October 2017 expanded OpenGov's capabilities by incorporating tools for public engagement and citizen feedback.
OpenGov integrated community development operations, including permitting and licensing, through its acquisition of ClearRec in October 2020.
Answer: False
Explanation: OpenGov integrated community development operations, including permitting and licensing, through its acquisition of ViewPoint Cloud in September 2019, not ClearRec.
The acquisition of ClearRec in October 2020 enhanced OpenGov's financial management capabilities by adding bank reconciliation technology.
Answer: True
Explanation: In October 2020, OpenGov acquired ClearRec, which added specialized bank reconciliation process technology to enhance its financial management capabilities.
OpenGov's acquisition of ProcureNow in June 2021 aimed to provide a single vendor solution for budgeting and procurement.
Answer: True
Explanation: The acquisition of ProcureNow in June 2021 enabled OpenGov to offer a unified solution for budgeting and procurement, streamlining operations for its clients.
Cox Enterprises, a minority owner, provided funding for OpenGov's acquisition of Cartegraph in July 2022.
Answer: True
Explanation: In July 2022, OpenGov acquired Cartegraph, with funding support provided by Cox Enterprises, which was already a minority stakeholder.
OpenGov enhanced its Reporting & Transparency suite through the acquisition of which company in April 2016?
Answer: Ontodia
Explanation: In April 2016, OpenGov acquired Ontodia to enhance its Reporting & Transparency suite with open data solutions.
Which company did OpenGov acquire in October 2017 to incorporate tools for public engagement?
Answer: Peak Democracy
Explanation: OpenGov acquired Peak Democracy in October 2017 to integrate tools for public engagement and citizen feedback.
What functionality was integrated into OpenGov's platform via the September 2019 acquisition of ViewPoint Cloud?
Answer: Community development operations (permitting, licensing)
Explanation: The acquisition of ViewPoint Cloud in September 2019 integrated community development operations, including permitting and licensing, into OpenGov's platform.
What technology did OpenGov acquire in October 2020 through the purchase of ClearRec?
Answer: Specialized bank reconciliation process technology
Explanation: Through the purchase of ClearRec in October 2020, OpenGov acquired specialized bank reconciliation process technology.
Which company did OpenGov acquire in July 2022, with funding support from Cox Enterprises?
Answer: Cartegraph
Explanation: In July 2022, OpenGov acquired Cartegraph, with financial support from Cox Enterprises.
OpenGov raised $128 million in venture capital and angel investment across all its funding rounds.
Answer: False
Explanation: While $128 million was mentioned in one context, subsequent funding rounds indicate a higher cumulative total investment for OpenGov.
8VC was a key investor in OpenGov's initial $3 million Series A funding round in 2012.
Answer: True
Explanation: 8VC was indeed a key investor in OpenGov's initial $3 million Series A funding round in 2012, alongside other venture funds and angel investors.
Thrive Capital participated in OpenGov's $4 million funding round in 2013, alongside existing investors.
Answer: True
Explanation: Thrive Capital joined as a new investor in OpenGov's $4 million funding round in 2013, participating alongside existing investors like 8VC.
Andreessen Horowitz led OpenGov's $15 million Series B funding round announced in May 2014.
Answer: True
Explanation: Andreessen Horowitz was a key investor in OpenGov's $15 million Series B funding round announced in May 2014.
Ashton Kutcher was among the new investors in OpenGov's October 2015 funding round.
Answer: False
Explanation: While Ashton Kutcher was an investor in OpenGov, the provided source material does not explicitly link him to the October 2015 funding round, but rather to a broader group of investors in later rounds.
Marc Andreessen joined OpenGov's board of directors after the Series C funding round in 2017.
Answer: False
Explanation: Marc Andreessen joined OpenGov's board of directors following the Series B funding round in October 2015, not after the Series C round in 2017.
OpenGov raised $30 million in its Series C funding round in May 2017.
Answer: True
Explanation: In May 2017, OpenGov successfully raised $30 million in its Series C funding round.
Weatherford Capital and Andreessen Horowitz led OpenGov's Series D funding round in September 2019.
Answer: False
Explanation: Weatherford Capital and 8VC led OpenGov's Series D funding round in September 2019, not Andreessen Horowitz.
Weatherford Capital provided significant investment to OpenGov in August 2021 as part of its first round for the government technology sector.
Answer: True
Explanation: In August 2021, Weatherford Capital invested in OpenGov as part of its initial fund focused on the government technology sector.
Which venture capital firm was a key investor in both OpenGov's 2012 Series A and 2013 funding rounds?
Answer: 8VC
Explanation: 8VC was a key investor in both OpenGov's 2012 Series A and 2013 funding rounds.
Who joined OpenGov's board of directors following the October 2015 funding round?
Answer: Marc Andreessen
Explanation: Marc Andreessen joined OpenGov's board of directors following the October 2015 funding round.
Which firms led OpenGov's $51 million Series D funding round in September 2019?
Answer: Weatherford Capital and 8VC
Explanation: Weatherford Capital and 8VC led OpenGov's $51 million Series D funding round in September 2019.
Cox Enterprises announced its intention to acquire OpenGov Inc. in January 2024.
Answer: False
Explanation: Cox Enterprises announced its intention to acquire OpenGov Inc. in February 2024, not January.
In April 2020, OpenGov launched the first cloud ERP system specifically designed for federal government agencies.
Answer: False
Explanation: In April 2020, OpenGov launched the first fully-integrated cloud ERP system specifically designed for local government agencies, not federal ones.
OpenGov and GTY Technology Holdings resolved their legal disputes stemming from a failed merger attempt in March 2020.
Answer: True
Explanation: In March 2020, OpenGov and GTY Technology Holdings settled their legal disputes that arose from a prior failed merger attempt.
OpenGov reported a decrease in client interest following the election of President Donald Trump in February 2017.
Answer: False
Explanation: In February 2017, OpenGov reported an increase in client and job applicant interest, attributing it to a heightened demand for government accountability post-election.
Zac Bookman, CEO of OpenGov, was the only CEO of a small firm invited to a White House tech summit in June 2017.
Answer: True
Explanation: The Wall Street Journal reported that OpenGov's CEO, Zac Bookman, was the sole CEO of a small firm invited to a White House tech summit in June 2017.
OpenGov's valuation reached $1.8 billion when Cox Enterprises agreed to acquire it in February 2024.
Answer: True
Explanation: The acquisition agreement announced in February 2024 valued OpenGov at $1.8 billion when Cox Enterprises agreed to purchase it.
Which major corporation has agreed to acquire OpenGov Inc. in February 2024?
Answer: Cox Enterprises
Explanation: Cox Enterprises has agreed to acquire OpenGov Inc., with the announcement made in February 2024.
What is the valuation of OpenGov Inc. according to the acquisition agreement announced in February 2024?
Answer: 1.8 billion
Explanation: The acquisition agreement announced in February 2024 valued OpenGov Inc. at $1.8 billion.
What significant product did OpenGov launch in April 2020?
Answer: The first fully-integrated cloud ERP system for local government.
Explanation: In April 2020, OpenGov launched the first fully-integrated cloud ERP system specifically designed for local government.
How was the legal dispute between OpenGov and GTY Technology Holdings resolved?
Answer: Via a settlement agreement.
Explanation: The legal dispute between OpenGov and GTY Technology Holdings was resolved via a settlement agreement in March 2020.
What impact did the election of President Donald Trump have on OpenGov in early 2017?
Answer: Increased interest from clients and potential job applicants seeking accountability.
Explanation: In early 2017, OpenGov observed increased interest from clients and potential job applicants, attributed to a heightened demand for government accountability following President Donald Trump's election.
According to The Wall Street Journal, what was notable about OpenGov's CEO, Zac Bookman, at a White House tech summit in June 2017?
Answer: He represented the only small firm CEO present.
Explanation: The Wall Street Journal noted that OpenGov's CEO, Zac Bookman, was the sole representative of a small firm among the CEOs invited to a White House tech summit in June 2017.
As of 2024, OpenGov Inc. employs a workforce of approximately 700 individuals.
Answer: True
Explanation: As of 2024, OpenGov Inc. has approximately 700 employees, reflecting its growth and operational scale.
As of February 2024, OpenGov serves over 2,500 government entities.
Answer: False
Explanation: As of February 2024, OpenGov serves approximately 1,900 government entities, not over 2,500.
The city of Chicago was OpenGov's very first customer.
Answer: False
Explanation: The city of Palo Alto was OpenGov's first customer, stemming from a collaboration with California Common Sense.
Scranton, Pennsylvania, partnered with OpenGov to address issues arising from outdated infrastructure and improve operational safety.
Answer: True
Explanation: Scranton, Pennsylvania, partnered with OpenGov to address issues related to outdated infrastructure, restore public trust, and improve operational safety following cyberattacks and scandals.
Curry County, Oregon, stopped using OpenGov software in May 2021 due to the high cost of the subscription.
Answer: False
Explanation: Curry County, Oregon, ceased using OpenGov software in May 2021 due to reported 'glitches' encountered within the system, not high subscription costs.
Durango, Colorado, partnered with OpenGov in September 2021 to prevent financial losses caused by clerical errors and embezzlement.
Answer: True
Explanation: Durango, Colorado, partnered with OpenGov in September 2021 to enhance transparency and prevent financial losses stemming from past embezzlement and clerical errors.
The city of Los Angeles is utilizing OpenGov's services for its preparations for the 2028 Summer Olympics.
Answer: True
Explanation: The city of Los Angeles is employing OpenGov's services as part of its preparations for the 2028 Summer Olympics, indicating its use in complex project management.
How many government entities did OpenGov serve as of February 2024?
Answer: Approximately 1,900
Explanation: As of February 2024, OpenGov serves approximately 1,900 government entities.
Which city was OpenGov's first customer?
Answer: Palo Alto
Explanation: The city of Palo Alto was OpenGov's first customer.
What were the primary reasons Scranton, Pennsylvania, partnered with OpenGov?
Answer: To restore public trust and improve safety after cyberattacks and scandals.
Explanation: Scranton, Pennsylvania, partnered with OpenGov primarily to restore public trust and improve safety following cyberattacks and scandals, alongside addressing outdated infrastructure.
Why did Curry County, Oregon, cease using OpenGov software in May 2021?
Answer: Reported 'glitches' encountered within the system.
Explanation: Curry County, Oregon, ceased using OpenGov software in May 2021 due to reported 'glitches' encountered within the system.
What past incident prompted Durango, Colorado, to partner with OpenGov in September 2021?
Answer: Embezzlement by the former finance director and financial losses from errors.
Explanation: Durango, Colorado, partnered with OpenGov in September 2021 following incidents of embezzlement by its former finance director and significant financial losses due to clerical errors.
How is the city of Los Angeles currently utilizing OpenGov's services?
Answer: As part of preparations for the 2028 Summer Olympics.
Explanation: The city of Los Angeles is utilizing OpenGov's services in its preparations for the 2028 Summer Olympics.