San Francisco-based OpenGov, a cloud software platform for government agencies, has received a majority investment from Atlanta-based Cox Enterprises, valuing the company at $1.8 billion. This investment deepens Cox’s long-time partnership with OpenGov and will serve as an opportunity to close the growing technology gap in state and local governments.
Cox operates within the broadband, automotive and media industries and invests in emerging technologies targeting sectors including agriculture, renewable energy, health care and public sector software.
Under the transaction’s terms, OpenGov’s management and employees will roll over a significant portion of their equity into the deal, and the company will be run by its existing leadership under the Cox umbrella, according to reporting by the Wall Street Journal. With Cox’s investment, OpenGov plans to accelerate product development, advance its mission of powering a more effective and accountable government and make lasting improvements to communities.
The partnership with Cox will allow OpenGov to offer its customers with long-term stability, increased research and development investment and continued high-quality service. OpenGov’s software helps government organizations operate more efficiently with tools for budgeting and planning, accounting, permitting and licensing, procurement and asset management.
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