OpenGov

This article is about the company. For the unrelated foundation, see OpenGov Foundation.
OpenGov
Privately held company
Founded 2012
Founder Zachary Bookman, Mike Rosengarten, Joe Lonsdale, Nate Levine, Dakin Sloss
Headquarters Redwood City, California
Products Transparency, Reporting and Business Intelligence
Number of employees
 105
Website opengov.com

OpenGov is a Silicon-Valley technology company that offers a web-based financial visualization software for state and local governments. The company focuses on making government budget and financial data accessible by modeling and presenting it in a user-friendly and interactive manner.

History

OpenGov was founded in 2012 by Zachary Bookman, Nate Levine, Dakin Sloss, Mike Rosengarten and Joe Lonsdale. The company's founders and several advisors met while working with California Common Sense,[1] a non-profit non-partisan organization, which advocates open data and open government principles. Until 2013, the company was known as Delphi Solutions.

Products

OpenGov's main product is an Advanced Financial Reporting engine that displays an individual government's annual financial data, including its revenues and expenditures by fund, department, and type of account. Governments can also subscribe for Quarterly and Current Year-To-Date Reporting, use the same platform to display quarterly and monthly data, respectively, with added features such as budget variance.[2] Users can view the data in a variety of interactive graphs and tables, as well as download or share the data through email or social media.

According to the company's website, the platform complements traditional accounting and enterprise resource planning systems by providing user-friendly access to data.[3] Unlike such systems, Transparency is meant for use by both government officials and members of the public.

Customers

As of March 2016, OpenGov serves over 900 government entities[4] (including state agencies, city governments, school districts, and other special-purpose districts) in 44 states.

The City of Palo Alto was OpenGov's first customer[5] following a collaboration between the city and employees from nonprofit California Common Sense to launch a comprehensive open data platform.[6]

Following the City of Bell scandal involving the misappropriation of city funds, the Bell city government began using OpenGov in October 2013 as part of a larger initiative to rebuild trust between the city and residents.[7]

Advisors

OpenGov is advised by experts from the technology, financial, and public service sectors.[8] Examples include:

Funding

OpenGov has raised $7 million from venture capital and angel investors.[9] A $3 million Series A round in 2012 included venture funds Formation 8, Founders Fund Angel, Valiant Capital, and "a number of high-profile angel investors."[10] In 2013, the company raised $4 million in further investment from Formation 8 and new investor Thrive Capital.[10]

On May 15, 2014, OpenGov announced a fresh $15 million Series B round of funding[11] including an investment from Andreessen Horowitz.[12]

See also

References

  1. ↑ "CACS Team". California Common Sense. Retrieved January 8, 2014.
  2. ↑ "With Palo Alto on Board, OpenGov Aims for Transparency in Dozens More City Governments". The Wall Street Journal - Venture Capital Beat. July 11, 2013. Retrieved January 8, 2014.
  3. ↑ "OpenGov Home Page". OpenGov. Retrieved January 8, 2014.
  4. ↑ "OpenGov Home Page". OpenGov. Retrieved September 1, 2015.
  5. ↑ "Delphi builds data tool for Palo Alto". Silicon Valley Business Journal. October 5, 2011. Retrieved January 8, 2014.
  6. ↑ "City of Palo Alto Continues Open Government Push with Launch of "Open Budget"". HighBeam Research. September 21, 2012. Retrieved January 8, 2014.
  7. ↑ "City of Bell Launches Financial Visualization Platform - Cloud-Based OpenGov Platform Enables Bell to Build Trust By Inviting Residents to Explore City Financial Data". PRNewswire. October 29, 2013. Retrieved January 8, 2014.
  8. ↑ "OpenGov Advisors". OpenGov. Retrieved January 9, 2014.
  9. ↑ "Company Profile - OpenGov". CrunchBase. Retrieved January 8, 2014.
  10. 1 2 "OpenGov Receives $4M for Transparency Software". SiliconANGLE. July 3, 2013. Retrieved January 8, 2014.
  11. ↑ By Tom Cheredar, Venture Beat. "/ OpenGov has another $15M to show how governments spend your money." May 15, 2014. Retrieved May 16, 2014.
  12. ↑ By Balaji S. Srinivasan, Andreessen Horowitz. "/ OpenGov: The Startup Analyzing $50B in Spending." September 24, 2014. Retrieved June 23, 2014.
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