Sacramento, Calif. – January 9, 2018 – Government Technology magazine released its annual GovTech 100, a compendium of 100 companies focused on making a difference in – and selling to – state and local governments.
GovTech has earned recognition as its own market segment through the work of a growing number of companies – and the investors that back them – in helping governments perform their work more effectively in serving their communities. This year’s third annual GovTech 100 analysis illustrates the market’s growing importance and viability.
“In the past several years, this new generation of government-serving technology companies has seen an undeniable rise in financing activity, and it’s been taking many forms: bigger deals, more investors, more companies, new ideas,” said e.Republic chief innovation officer Dustin Haisler, who was heavily involved in the list’s creation.
For example, Government Technology tracked five separate investment rounds that reached at least $10 million this year — in Remix, OpenGov, Neighborly, LiveStories and Optibus. Most of them were Series A rounds, implying that if those companies were to go on and raise more capital in a year or two, they would attract even more money. Another that leans toward government clients, drone navigation company AirMap, brought in a $26 million Series B in February 2017. Total funding for all 2018 GovTech 100 Companies in 2017 was over $2 billion.
The GovTech market is also growing more sophisticated.
“We’re starting to move into more mission-critical applications that do much more complex work and work with much more sensitive data,” Haisler said.
This year, the entire January/February issue of Government Technology is dedicated to the GovTech 100. A full list of the companies recognized in the GovTech 100 can be found at www.govtech.com/100. Check out a network map of the GovTech 100 companies for 2018 and the key investment relationships between them here.
About Government Technology | www.govtech.com
Government Technology is about solving problems in state and local government through the smart use of technology.
Government Technology is a division of e.Republic, the nation’s only media and research company focused exclusively on state and local government and education.
Dustin Haisler, chief innovation officer, e.Republic