What is the core business and operational status of OpenGov Inc.?

OpenGov Inc. is a privately held technology company specializing in enterprise software. Its primary focus is on providing cloud-based solutions for government entities, aiming to modernize their operations and enhance transparency. As of February 2024, the company is in the process of being acquired by Cox Enterprises.

When was OpenGov Inc. established, and what was the primary impetus for its founding?

OpenGov Inc. was founded in 2012. The company's establishment was a direct response to the economic challenges and governmental inefficiencies highlighted by the 2008 financial crisis. The founders sought to introduce modern technological solutions to public sector finance and administration.

Who were the co-founders of OpenGov Inc., and what was their background leading up to the company's creation?

The co-founders of OpenGov Inc. are Nate Levine, Dakin Sloss, Joe Lonsdale, and Zachary Bookman. Several of these founders, along with advisors, had previously collaborated with California Common Sense, a non-profit organization dedicated to advocating for open data and open government principles. This shared experience in promoting transparency and data accessibility influenced their vision for OpenGov.

What was the overarching, long-term objective that motivated the founders of OpenGov?

The long-term goal of OpenGov's founders was to introduce a modern, cloud-based enterprise resource planning (ERP) system specifically tailored for local and state governments. They aimed to equip public sector organizations with advanced technology to improve financial management, planning, and citizen services.

What specific industry does OpenGov Inc. operate within?

OpenGov Inc. operates within the enterprise software industry, with a specialized focus on providing solutions for the public sector, particularly government entities.

What is the current number of employees at OpenGov Inc., as of the latest available information?

As of 2024, OpenGov Inc. has approximately 700 employees. This indicates a significant growth in workforce since its founding.

Which major corporation has agreed to acquire OpenGov Inc., and when was this acquisition announced?

Cox Enterprises has agreed to acquire OpenGov Inc. The agreement was announced in February 2024. This acquisition values OpenGov at $1.8 billion, signifying a substantial milestone for the company.

What key products and services does OpenGov offer to its government clients?

OpenGov provides a suite of cloud-based enterprise resource planning (ERP) solutions for governments. Their offerings include modules for budgeting and planning, financial management, and citizen services, all designed to enhance operational efficiency and transparency.

What does ERP stand for, and how does OpenGov's approach utilize this concept for government entities?

ERP stands for Enterprise Resource Planning. OpenGov applies this concept by offering a fully integrated cloud ERP system specifically designed for the unique needs of local governments. This system aims to streamline various administrative and financial functions within a single platform.

What strategic acquisition did OpenGov complete in April 2016, and what did it add to their capabilities?

In April 2016, OpenGov acquired Ontodia, a company recognized for developing open data solutions using CKAN. This acquisition allowed OpenGov to enhance its Reporting & Transparency suite, integrating more robust open data capabilities into its platform.

How did OpenGov's acquisition of Peak Democracy in October 2017 benefit the company's service offerings?

The acquisition of Peak Democracy in October 2017 expanded OpenGov's portfolio by incorporating tools for public engagement, communication, and citizen feedback. This move aimed to deepen the company's ability to facilitate interaction between governments and their constituents.

What functionality did OpenGov gain by acquiring ViewPoint Cloud in September 2019?

By acquiring ViewPoint Cloud in September 2019, OpenGov integrated a platform that manages community development operations. This includes crucial functions such as permitting, licensing, inspections, and code enforcement, broadening OpenGov's reach into municipal operational management.

What technology did OpenGov incorporate through its October 2020 acquisition of ClearRec?

In October 2020, OpenGov acquired ClearRec, a Texas-based company. This acquisition brought ClearRec's specialized bank reconciliation process technology into the OpenGov ERP Cloud, enhancing its financial management capabilities.

What was the strategic aim behind OpenGov's acquisition of ProcureNow in June 2021?

The acquisition of ProcureNow in June 2021 enabled OpenGov to offer its customers a single vendor solution for budgeting, procurement, and financial operations. This integration aimed to provide a more comprehensive and seamless experience for government financial management.

Which company did OpenGov acquire in July 2022, and what was the source of funding for this transaction?

In July 2022, OpenGov acquired Cartegraph, a developer of public cloud software. This acquisition was supported by funding from Cox Enterprises, which was already a minority owner at the time.

What significant product did OpenGov launch in April 2020, and what made it notable?

In April 2020, OpenGov launched the first fully-integrated cloud enterprise resource planning (ERP) system specifically designed for local government. This launch marked a key development in providing comprehensive cloud solutions tailored to the public sector.

How did OpenGov and GTY Technology Holdings resolve their legal disputes in March 2020?

In March 2020, OpenGov and GTY Technology Holdings reached a settlement regarding lawsuits that stemmed from a previous attempt at a merger between the two companies. The settlement concluded their legal disagreements.

What impact did the election of President Donald Trump have on OpenGov's business interests, as observed in February 2017?

In February 2017, OpenGov reported an increase in interest from both clients and potential job applicants. This surge was attributed to a heightened desire for government accountability following the election of President Donald Trump.

What connection did OpenGov's CEO, Zac Bookman, have with the White House in June 2017, as reported by The Wall Street Journal?

The Wall Street Journal reported in July 2017 that OpenGov's CEO, Zac Bookman, was among 18 tech leaders invited to a tech summit at the White House in June 2017. He was noted as the only CEO of a small firm present. The report also mentioned that OpenGov had partial ownership by Thrive Capital, a venture firm associated with Joshua Kushner, brother of Jared Kushner.

How many government entities did OpenGov serve as of February 2024, and what types of entities are included?

As of February 2024, OpenGov serves approximately 1,900 government entities. This customer base includes a diverse range of public organizations such as state agencies, city governments, school districts, and various special districts.

On what basis does OpenGov typically structure its subscription services for government clients?

OpenGov structures its subscription services for government entities based on two primary factors: the number of products the entity utilizes from OpenGov's suite and the number of employees within that entity who require access to the software.

Which city holds the distinction of being OpenGov's very first customer?

The city of Palo Alto was OpenGov's first customer. This partnership emerged from a collaboration between the city and employees from the non-profit California Common Sense, aimed at launching a comprehensive open data platform.

What led Scranton, Pennsylvania, to partner with OpenGov, and what were the stated objectives of this collaboration?

Scranton, Pennsylvania, partnered with OpenGov following a series of cyberattacks and scandals. The city aimed to restore public trust, improve safety, and accelerate its operations by adopting OpenGov's cloud-based ERP system. The city's Business Administrator noted that the partnership would help decrease reliance on outdated infrastructure, as operations had seen little change since the 1980s.

Why did Curry County, Oregon, decide to stop using OpenGov software in May 2021?

Curry County, Oregon, ceased using OpenGov software in May 2021 due to reported 'glitches' encountered within the system. This decision highlights potential challenges in software implementation or performance for specific users.

What circumstances led Durango, Colorado, to partner with OpenGov in September 2021, and what issues did the city aim to resolve?

Durango, Colorado, partnered with OpenGov in September 2021 to enhance transparency with its citizens. This initiative was prompted by a past incident where the city's former finance director embezzled over $700,000, and significant financial losses occurred due to clerical errors. OpenGov's software was intended to help prevent such issues and provide real-time visibility into city finances.

How is the city of Los Angeles currently utilizing OpenGov's services?

The city of Los Angeles is using OpenGov's services as part of its preparations for the 2028 Summer Olympics. This suggests the software is being employed for complex project management and financial oversight related to major civic events.

What was the total amount of venture capital and angel investment OpenGov had raised, according to one mention in the article?

According to one statement in the article, OpenGov had raised $128 million from venture capital and angel investors. However, subsequent funding rounds mentioned indicate a higher cumulative total.

Who were the primary investors in OpenGov's initial $3 million Series A funding round in 2012?

OpenGov's $3 million Series A funding round in 2012 included investments from venture funds such as 8VC, Founder Collective, and Valiant Capital, along with a number of high-profile angel investors.

Which venture capital firms were involved in OpenGov's $4 million funding round in 2013?

In 2013, OpenGov raised $4 million in further investment. This round saw participation from 8VC, which had invested previously, and the addition of Thrive Capital as a new investor.

What was the amount of OpenGov's Series B funding round announced in May 2014, and which key firms participated?

In May 2014, OpenGov announced a $15 million Series B round of funding. Key investors in this round included Andreessen Horowitz, 8VC, and Thrive Capital.

Which notable investors and individuals participated in the additional $25 million Series B round for OpenGov in October 2015?

The additional $25 million Series B round in October 2015 included further investments from Andreessen Horowitz, 8VC, and Thrive Capital, alongside new investors such as Sway Ventures, Glynn Capital, Scott Cook, and Ashton Kutcher along with Guy Oseary's Sound Ventures.

Who joined OpenGov's board of directors following the October 2015 funding round?

Marc Andreessen joined OpenGov's board of directors subsequent to the company securing its $25 million Series B funding round in October 2015.

How much capital did OpenGov secure in its Series C funding round in May 2017?

In May 2017, OpenGov successfully raised $30 million in a Series C funding round. This capital infusion supported the company's continued growth and product development.

What was the amount of OpenGov's Series D funding round in September 2019, and which firms led the investment?

OpenGov raised $51 million in a Series D funding round in September 2019. This round was led by Weatherford Capital and 8VC, with participation from existing investor Andreessen Horowitz.

What role did Weatherford Capital play in OpenGov's funding activities in August 2021?

In mid-August 2021, Weatherford Capital, a private investment firm, closed nearly $355 million in its first round of investments for the government technology sector. OpenGov was among the civic technology companies that received a portion of these funds.

What related topic is listed in the 'See also' section of the OpenGov article?

The 'See also' section of the article lists 'E-government' as a related topic. E-government refers to the use of information and communication technologies to improve the delivery of government services.

What was the valuation of OpenGov when Cox Enterprises agreed to acquire it in February 2024?

When Cox Enterprises agreed to acquire OpenGov in February 2024, the company was valued at $1.8 billion. This acquisition marked a significant financial milestone for the government technology firm.

What is the significance of OpenGov's founding motivation in relation to the 2008 financial crisis?

OpenGov was founded in 2012 as a direct response to the inefficiencies and challenges exposed by the 2008 financial crisis. The founders aimed to provide governments with better tools for financial management and planning, believing that improved technology could prevent or mitigate future crises and enhance public sector fiscal responsibility.

How does OpenGov's focus on 'open data' and 'open government' principles manifest in its services?

OpenGov's commitment to open data and open government principles, stemming from its founders' association with California Common Sense, is reflected in its products that aim to increase transparency. By providing platforms for governments to share financial data and operational information, OpenGov enables citizens to better understand how public funds are managed and how government operates.

What is the strategic advantage of OpenGov offering an integrated cloud ERP system for local governments?

The strategic advantage of OpenGov's integrated cloud ERP system for local governments lies in its ability to consolidate various functions like budgeting, financials, procurement, and citizen services into a single, modern platform. This integration streamlines operations, reduces reliance on disparate or outdated systems, and enhances data accessibility and reporting for improved decision-making and transparency.

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What is OpenGov?

Company Profile

OpenGov Inc. is a privately held technology company headquartered in San Francisco, California. It specializes in providing cloud-based enterprise resource planning (ERP) software tailored specifically for state and local government entities.

Mission and Vision

Founded in 2012, OpenGov emerged from the insights gained during the 2008 financial crisis. Its core mission is to modernize government operations by offering advanced, cloud-native ERP solutions that enhance efficiency, transparency, and accountability for public sector organizations.

Ownership and Future

As of February 2024, Cox Enterprises, a significant minority owner, has agreed to acquire OpenGov, valuing the company at $1.8 billion. This acquisition signifies a major milestone in OpenGov's trajectory, integrating it into a larger media and technology conglomerate.

Core Offerings

ERP Cloud

OpenGov provides the first fully integrated cloud ERP system designed exclusively for local governments. This comprehensive suite aims to replace outdated, legacy infrastructure with modern, efficient digital solutions.

Budgeting & Planning

The platform offers robust tools for budgeting and financial planning, enabling governments to manage their fiscal resources more effectively and transparently. This includes features for budget creation, forecasting, and performance analysis.

Financials

OpenGov's financial management solutions cover essential government accounting functions, ensuring accuracy, compliance, and streamlined operations. This component supports the entire financial lifecycle of a government entity.

Citizen Services

The company also focuses on enhancing citizen engagement and service delivery through its platform. This includes tools for public access to data, feedback mechanisms, and streamlined processes for permits and licenses.

Evolution and Milestones

Genesis and Early Growth

OpenGov was founded in 2012 by Nate Levine, Dakin Sloss, Joe Lonsdale, and Zachary Bookman. Their motivation stemmed from the perceived inefficiencies and lack of transparency in government finances following the 2008 financial crisis. The initial goal was to bring modern cloud ERP capabilities to the public sector.

Strategic Acquisitions

OpenGov has strategically expanded its capabilities through several key acquisitions:

Ontodia (2016): Enhanced its Reporting & Transparency suite with Open data CKAN capabilities.
Peak Democracy (2017): Bolstered public engagement and feedback tools.
ViewPoint Cloud (2019): Integrated community development operations like permitting and licensing.
ClearRec (2020): Added bank reconciliation technology to its ERP Cloud.
ProcureNow (2021): Enabled integrated budgeting, procurement, and financial operations.
Cartegraph (2022): Expanded public cloud software offerings for infrastructure management.

Key Developments

In 2017, OpenGov noted increased interest from clients and applicants, potentially linked to a desire for greater government accountability. The company's CEO, Zac Bookman, participated in White House tech summits, highlighting its growing influence in the GovTech space.

Investment and Backing

Venture Capital Support

OpenGov has secured significant funding throughout its growth, totaling approximately $128 million from venture capital and angel investors. Notable early investors include 8VC, Founder Collective, and Thrive Capital. Later rounds saw participation from prominent firms like Andreessen Horowitz and Weatherford Capital.

Funding Rounds Overview

Key funding milestones include:

Series A (2012): $3 million
Series B (2014 & 2015): $15 million and $25 million, respectively, with Andreessen Horowitz joining.
Series C (2017): $30 million
Series D (2019): $51 million
Subsequent Investments (2021 onwards): Investments from firms like Weatherford Capital, supporting further expansion.

Strategic Partnership

Cox Enterprises' agreement to acquire OpenGov in February 2024 for $1.8 billion marks a significant strategic shift, positioning OpenGov for expanded reach and resources within the broader Cox Enterprises portfolio.

Clientele and Impact

Broad Government Reach

As of February 2024, OpenGov serves approximately 1,900 government entities across the United States. This includes a diverse range of clients such as state agencies, city governments, school districts, and various special districts.

Notable Clients and Use Cases

OpenGov's solutions are utilized by prominent entities like the City of Palo Alto (its first customer) and the City of Los Angeles, which is leveraging the platform to prepare for the 2028 Summer Olympics. Other examples include Scranton, Pennsylvania, which adopted OpenGov to modernize its infrastructure and restore public trust after facing cyberattacks and scandals.

Transparency and Efficiency

The adoption of OpenGov's platform often aims to increase transparency and efficiency. For instance, Durango, Colorado, partnered with OpenGov to provide citizens with real-time access to city finances, addressing issues of embezzlement and financial mismanagement.

Strategic Acquisitions

Expanding Capabilities

OpenGov has strategically acquired several companies to broaden its product suite and enhance its integrated platform for government operations:

Ontodia (2016): Strengthened open data and transparency features.
Peak Democracy (2017): Enhanced citizen engagement tools.
ViewPoint Cloud (2019): Integrated permitting and community development workflows.
ClearRec (2020): Added specialized accounting functionalities.
ProcureNow (2021): Unified procurement processes with financial management.
Cartegraph (2022): Expanded offerings in public works and infrastructure management.

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References

A full list of references for this article are available at the OpenGov Wikipedia page

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Important Notice

This page was generated by an Artificial Intelligence and is intended for informational and educational purposes only. The content is based on a snapshot of publicly available data from Wikipedia and may not be entirely accurate, complete, or up-to-date.

This is not professional advice. The information provided on this website is not a substitute for professional consultation regarding government technology, financial management, or enterprise software solutions. Always refer to official documentation and consult with qualified professionals for specific needs.

The creators of this page are not responsible for any errors or omissions, or for any actions taken based on the information provided herein.

OpenGov: Modernizing Government Operations

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What is OpenGov? ℹ️

🏢 Company Profile

🎯 Mission and Vision

🤝 Ownership and Future

Core Offerings 🧩

☁️ ERP Cloud

📊 Budgeting & Planning

💰 Financials

👥 Citizen Services

Evolution and Milestones 📈

⏳ Genesis and Early Growth

🔗 Strategic Acquisitions

💡 Key Developments

Investment and Backing 💰

💸 Venture Capital Support

📈 Funding Rounds Overview

🏛️ Strategic Partnership

Clientele and Impact 👥

🌐 Broad Government Reach

⭐ Notable Clients and Use Cases

⚖️ Transparency and Efficiency

Strategic Acquisitions 🔗

🧩 Expanding Capabilities

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Disclaimer ⚠️

📜 Important Notice

Dive in with Flashcard Learning!

What is OpenGov?

Company Profile

Mission and Vision

Ownership and Future

Core Offerings

ERP Cloud

Budgeting & Planning

Financials

Citizen Services

Evolution and Milestones

Genesis and Early Growth

Strategic Acquisitions

Key Developments

Investment and Backing

Venture Capital Support

Funding Rounds Overview

Strategic Partnership

Clientele and Impact

Broad Government Reach

Notable Clients and Use Cases

Transparency and Efficiency

Strategic Acquisitions

Expanding Capabilities

Teacher's Corner

True or False?

Test Your Knowledge!

Gamer's Corner

Discover other topics to study!

References

Feedback & Support

Disclaimer

Important Notice