Andreessen Horowitz and Formation 8 help OpenGov expand its government financial analysis platform.
US-based OpenGov, a web-based government business intelligence platform provider, has raised $15m in series B funding to expand its business intelligence and transparency software.
Andreessen Horowitz led the round, with corporate-backed venture capital firm Formation 8 and Thrive Capital also involved. Formation 8 and Thrive previously participated in a $4m round in July 2013, together with investors including Valiant Capital Partners, Signature Capital and Goldcrest Investments.
The latest investment brings the total raised by OpenGov since its inception in January 2012 to $22m.
OpenGov aims to improve workflows and financial understanding internally and externally, allowing government and public to analyse current and historical financial budgeting. Current government partners include City of Los Angeles and Harper County Kansas.
OpenGov CEO Zac Bookman said: “Our internal values of trust, excellence, resourcefulness, and passion will guide us in the years ahead. OpenGov is proud to work in this space and thrilled to be…
