HERRIMAN, Utah, July 21, 2022 /PRNewswire/ -- Velosimo, the next generation of government technology integration that enables government agencies to meet citizens' expectations of modern and uninterrupted digital services, announced it has secured an $11 million Series A investment led by Macquarie Capital Principal Finance, with participation from Valor Equity Partners. This funding will enable the company to accelerate sales and expand its best-in-class integration platform. Funding comes on the heels of the company's remarkable growth since launching in 2018.
"At Velosimo, we believe our online experiences with government agencies should be as easy as with retail providers," said Kris Trujillo, Founder and CEO of Velosimo. "Broken integration between government software platforms has hindered agencies in providing this level of online customer experience. Velosimo solves this challenge for agencies. We are thrilled to have reached this milestone. Partnering with Macquarie Capital and Valor will allow us to quickly scale our sales and product teams to meet the increasing demand for our platform."
Velosimo's vision is to transform our virtual engagements with government by revolutionizing systems integration. Traditional system integrations are unworkable and too complex for most agencies. Seeing this need, Kris Trujillo founded Velosimo and launched the industry's first integration platform for government. Unlike other integration platforms, Velosimo targets government and has a team of industry veterans and a groundbreaking platform with self-healing transactions and no-code connectors uniquely built for government. These differentiators have led to over 70 state and local government customers, including San Diego, CA, El Paso, TX, Washington DC, and the State of California, and strategic partnerships with leading government software companies such as Accela, Cityworks, Cartegraph, and Laserfiche.
"We are excited to partner with Velosimo, as they build the preeminent IPaaS solution for the government sector," said Larry Handen, Senior Managing Director at Macquarie Capital. "Government agencies are looking for fast and efficient means of interconnecting their systems. They want these solutions to be self-managing and future-proof. Velosimo's solution and team are uniquely positioned to deliver on this demand."
Before this raise, early angel investors included industry leaders Maury Blackman, former CEO of Accela and current CEO of Premise Data; Daniel Kim, former Accela board member and investor, and current partner at HKW; and Stephen Davis, managing partner at Banneker Partners.
Macquarie Capital Principal Finance's investment in Velosimo represents its sixth investment in government technology companies since the beginning of 2019.
Velosimo provides cloud-native, off-the-shelf technology connectors explicitly built for government and the distinct scenarios of inner-system use by staff and citizens, with connector management and deep insight into all connected systems transactions on the Velosimo Connect Integration Platform as a Service (iPaaS). Velosimo also provides a revolutionary, low-code environment for rapid custom connector development by Government Technology Companies, System Integrators, and government agencies. The Velosimo Marketplace showcases the burgeoning collection of quickly enabled, ready-made, certified connectors from Velosimo and their partners.
Government agencies are turning to Velosimo as their move towards online, touchless service drives the need for predictable systems interoperability and modern, uninterrupted user experiences.
Macquarie Capital is the advisory, capital markets, and principal investment arm of Macquarie Group. It encompasses corporate advisory, a full spectrum of capital solutions, including capital raising services from equity, debt, and private capital markets and principal investments from Macquarie's balance sheet. Macquarie Capital has deep sector expertise in the aerospace, energy, defense and government services, consumer, gaming and leisure, financial institutions, healthcare, industrials, infrastructure, resources, software and services, technology, telecommunications, and media sectors. Macquarie Capital Principal Finance, the financing and principal investing arm of Macquarie Capital makes investments from Macquarie's balance sheet and provides flexible primary financing and secondary market investing solutions for corporate and commercial real estate clients across North America, Europe, and Australasia.
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