Historically, govtech has not been a hotbed for venture investment activity, but that may be changing now.
Given its notoriously tough sales cycles, govtech has not been a hotbed for venture investment activity but that may be changing now.
Over the last two weeks, a host of investments to startups selling to or enabling local governments have been announced including:
- A $10M Series A led by Sequoia Capital to public transit software startup Remix
- A $25M Series B led by 8VC and Emerson Collective to Neighborly, an online investment platform that allows individuals to invest in civic projects through municipal bonds
- A second $30M tranche in Series C led by Emerson Collective to budget building and open data software startup OpenGov