Mar 05, 2020, 14:34 ET
REDWOOD CITY, Calif., March 5, 2020 /PRNewswire/ -- Today OpenGov, the innovative leader in enterprise cloud solutions for government, announced another year of record growth, further cementing its place as one of the fastest growing government technology companies on record. Closely following the company's $51 Million Series D financing round and acquisition of cloud permitting provider, ViewPoint, OpenGov reported 59% YoY growth overall and 130% YoY growth in its permitting business. This includes notable new customers such as the State of Hawaii, Colorado Department of Transportation, Dallas County, Tulare County, Cobb County, and the cities of Lubbock, Savannah, and Chattanooga.
Their growth trajectory has been fueled in large part by the company's expansion from an original focus on transparency tools to a cloud platform that now encompasses more mission-critical software, such as its Budgeting & Planning suite and newly added Permitting, Licensing & Code Enforcement suite. State agencies and local governments have shown their eagerness to partner with a modern SaaS vendor, as OpenGov added close to 300 new customers in 2019 and now serves over 1,000 governments across all 50 states. To meet the needs of their rapidly growing customer base, OpenGov expanded its professional services team with 27 new hires and achieved a record 304 successful implementations last year.
"I have worked at over 30 startups in the course of my career, and never have I been as excited about the positive impact a company is making on their industry," said OpenGov Chief Financial Officer Paul Denton. "OpenGov's rise as the leading provider of cloud software for state and local governments has already proven that agencies nationwide are ready to partner with a new generation of forward-thinking technology vendors. The combination of leadership, vision, and commitment to building world-class technology in sincere partnership with the public sector has meant not only that this company has gone fast, but also that it will go far."
To ensure continued innovation and quality of customer service, the company has invested heavily in internal resources, with 107 new employees joining in the past year, including key additions to the Executive Team and Board of Directors. Chief Marketing Officer Matt Singer brings 15+ years of marketing leadership experience with organizations including HumanConcepts (Saba Software), SuccessFactors (SAP), and Jobvite (K1 Investments). Katherine August-deWilde joins the Board of Directors, bringing a wealth of experience including more than 30 years in various leadership roles with First Republic Bank including co-founder, CFO, COO, and President. This growth brings the company's total employees to more than 250 people across 7 offices in Silicon Valley, Boston, Chicago, Los Angeles, Portland, New York City, and Dallas.
In alignment with the company's focus on innovation, OpenGov has reinvested much of last year's revenue into research and development, including the addition of numerous engineering resources and a new Head of Product Design. Maintaining a regular cadence of releasing software updates every two weeks, the company published more than 90 new product features last year, and this year has plans for major product expansions based on customer feedback.
"Many companies in the government technology sector talk about building high-quality products, but they haven't been held to a high enough standard, meaning governments--and their constituents--have suffered tremendously because of it," said OpenGov Vice President of Product Caitlin Steel. "OpenGov is driving government technology forward with an infallible commitment from day one to prioritize user-centric design. We build products for what government agencies need to be effective--not just now, but for years to come. The best part of my job is the opportunity to sit down with government officials from around the country and talk about how we can make their lives better."
Having established financial stability and product leadership in the market, the company plans to continue leading the industry in 2020 through its customer-centric growth model. With over 300 years of internal public sector experience, a growing Customer Advisory Board, and an annual conference that doubled in size, OpenGov will continue building mission-critical cloud software for local governments and state agencies to drive more effective and accountable government.
OpenGov is the leader in providing our nation's state agencies and local governments with modern cloud financial software to help power more effective and accountable government. Built exclusively for the unique budgeting, financial, and economic development needs of the public sector, OpenGov solutions help our more than 1,000 customers plan effectively, increase efficiency, and improve engagement through better collaboration and transparency.
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