CivicPlus® Announces $290M Funding Investment from Insight Partners
Funding Will Accelerate Expansion of its Revolutionary Civic Experience Platform.
CivicPlus, a leading provider of cloud-based software for local governments, has announced a $290 million investment from global venture capital and private equity firm Insight Partners. With Insight Partners’ backing, CivicPlus will accelerate the marketplace impact of its Civic Experience Platform, which enables local governments to optimize interactions with citizens across every department and every service. With the Civic Experience Platform, local governments increase citizen satisfaction, maximize revenue generation, and operate more efficiently.
Brian Rempe, CivicPlus Chief Executive Officer, says that Insight Partners is the ideal investment partner for CivicPlus as the company aggressively moves to support the evolving needs of local governments.
“Insight Partners is dedicated to high-growth software companies,” said Rempe. “They have extensive expertise and have successfully supported many technology innovators on the brink of revolutionizing user experiences. Insight understands the fundamental changes in the relationship between local governments and their citizens, and they value our vision of enabling civic leaders to optimize that relationship.”
Local governments are expected to spend $58.1 billion on technology in 2021, up seven percent year-over-year. With the passing of the $1.9 trillion American Rescue Plan Act, a segment of the funding is expected to support continued critical IT spend over the next few years. With the investment from Insight Partners, CivicPlus will be optimally positioned to impact the rapidly growing public sector market for the kinds of citizen self-service technology that will eliminate barriers to citizen service engagement and revenue growth.
Ryan Hinkle, Managing Director at Insight Partners, says that CivicPlus’ Civic Experience Platform reflects the kind of innovative industry leadership it looks for in its investments.
“In meeting with CivicPlus’ leaders, we recognized that they are well-positioned to support the evolving demands faced by local governments. With significant market penetration, strong customer relationships, and a growing portfolio of civic engagement solutions, CivicPlus is uniquely positioned to redefine the role technology plays in the relationship between local governments and their citizens.”
“We will use this investment to fund strategic acquisitions and accelerate the build-out of our Civic Experience Platform,” said Rempe. “Citizens expect personalized, one-stop, frictionless interactions with their local government. Citizens feel a sense of trust and appreciation for their local governments like never before, but they also expect a level of digital accessibility that until now was absent in the public sector. We are excited by the accelerated momentum this investment from Insight Partners will deliver.”
District Capital Partners acted as the buyside advisor to Insight Partners.
About CivicPlus
CivicPlus delivers technology solutions that enable local governments to optimize the experience they deliver when interacting with citizens. Over 4,000 local governments use our solutions when serving their 250 million citizens. We deliver the industry’s first and only Civic Experience Platform. It enables local governments to drive more revenue, operate more efficiently, and generate positive recognition for the many services they provide every day. For more information, visit www.civicplus.com.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.
