01 Feb, 2022, 10:00 ET
SAN JOSE, Calif., Feb. 1, 2022 /PRNewswire/ -- OpenGov, the leader in modern cloud ERP software for our nation's cities, counties, and state agencies, marks another record year highlighted by significant revenue growth, new funding, and the launch of its fourth Suite OpenGov Procurement.
During the year, the company generated 34% revenue growth and signed 232 new customers. A growing number of new customers like Scranton, PA, and renewing customers like Jackson, MS, adopted multiple OpenGov cloud suites to power their most critical government functions.
"With historic levels of federal stimulus funds, resident expectations and state-level regulations requiring digital services, increasing awareness of cybersecurity and other risk events, and work-from-home and Great Resignation pressures on the office environment, there has never been a better time for governments to adopt cloud software," said OpenGov CEO Zac Bookman. "Public sector leaders are looking to OpenGov to help them transform their governments and better serve their communities."
To meet the demand driven by these trends, OpenGov welcomed strategic investor Cox Enterprises as part of a $50 million investment to fuel the company's growth. The new capital strengthens OpenGov's market-leading position, enabling the company to accelerate product development and acquire new cloud capabilities to complement its existing suites.
"Cox surveyed the govtech market for two years looking for the next cloud leader to disrupt the incumbents," said Davis Roberson, a Strategy and Corporate Development leader at Cox Enterprises. "We partnered with OpenGov based on a shared long-term vision to bring the cloud to local government."
In June, OpenGov further expanded its offering with the addition of OpenGov Procurement through the acquisition of ProcureNow. The fourth suite in OpenGov's ERP Cloud, OpenGov Procurement provides end-to-end automation across solicitation and contract development, electronic proposal evaluations, and supplier interactions. Noteworthy new OpenGov Procurement customers include Pittsburgh, PA, Orange County, FL, and Sacramento County, CA.
Organizational Momentum in 2021
OpenGov grew to nearly 500 employees in 2021, including notable leadership additions in Product, Professional Services, Security, and Support.
OpenGov further solidified its position as the premier thought-leader within the govtech space with OpenGov Transform, its annual industry conference. The event attracted more than 1,100 registrants from our nation's cities, counties, and state agencies.
Additionally, CEO Zac Bookman completed a cross-country cycling trip from San Francisco Bay to Chesapeake Bay in support of the Sandra Day O'Connor Institute For American Democracy. The OpenGov Across America campaign successfully raised more than $20,000 for the Institute. The goal was to thank local government leaders and spread awareness about the importance of civic engagement, civics education, and civil discourse.
For the sixth consecutive year, OpenGov was named to the GovTech 100. The company was also recognized by Forbes as one of America's Best Startup Employers 2021. Other 2021 accolades include Energage's 2021 Top Workplaces Award in Tech, Mogul's Top 100 Workplaces with the Best Benefits, and The Silicon Review's 50 Best Workplaces of the Year 2021.
OpenGov is the leader in modern cloud ERP software for our nation's cities, counties, and state agencies. On a mission to power more effective and accountable government, OpenGov serves 1,100 agencies across the U.S. Built exclusively for the unique budgeting, procurement, financial management, and citizen services needs of the public sector, the OpenGov ERP Cloud makes organizations more collaborative, digitizes mission-critical processes, and enables best-in-class communication with stakeholders.
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