OpenGov Continues Expansion with Acquisition of Operations and Asset Management Leader Cartegraph to Address the Growing Demand for Infrastructure Improvements
OpenGov, the leader in modern cloud software for our nation’s cities, counties, and state agencies, expands its market-leading government cloud with the acquisition of Cartegraph, the leader cloud software for public agency operations and infrastructure asset management.
“With this acquisition, we are bringing together two incredible, mission-driven teams to meet the needs of the public sector, now and for the future,” said OpenGov Co-founder and CEO Zac Bookman. “There has never been a better time to modernize our nation’s governments, and we have been investing to grow the OpenGov Cloud to ensure that every government leader has the best solutions to serve the critical needs of our communities. We’re thrilled to welcome Cartegraph and its team of outstanding employees and innovative local government customers to the OpenGov family!”
Local government modernization has been rapidly accelerating over the past few years, driven by a “perfect storm” of forces — from workforce changes and the rise of ransomware attacks, to a massive inflow of federal stimulus funds, and increasing demand for digital services. Legacy technology is aging out and cloud software is on the rise because it enables connected workflows and access to critical data. America's infrastructure challenges, in particular, are at the forefront of this digital transformation, due in part to the $1.2 trillion Infrastructure Investment and Jobs Act. To effectively manage this unprecedented level of spending, local governments need a purpose-built government cloud solution like Cartegraph.
Over the past 10 years, OpenGov has built modern, cloud software to serve the budgeting and planning; permitting, licensing, and code enforcement; procurement and solicitation development; financial management; and reporting and transparency needs of local and state governments.
Meanwhile, Cartegraph has developed a powerful suite of public agency operations and infrastructure management solutions, including asset and work management tools for public works, utilities, parks, and facilities teams. By bringing together these solutions, OpenGov can more effectively serve the key strategic functions of governments across the United States.
"We couldn’t be more excited about joining OpenGov,” said Josh Mallamud, Cartegraph CEO. “As we sought a partner for the next chapter of Cartegraph’s growth, we looked for a team with three key components: aligned vision and values, a commitment to customer success and building modern cloud-first solutions, and a desire to accelerate our current, exceptional momentum through increased investment. OpenGov delivers on all accounts. With a phenomenal team, the right technology architectures, the resources to invest in Cartegraph’s accelerated growth and software development, and a clear commitment to this market for decades to come, OpenGov is the perfect place for the Cartegraph team to continue to grow.”
Cartegraph is a Pamlico Capital portfolio company and OpenGov is backed by Cox Enterprises. For this transaction, Cartegraph was represented by William Blair and OpenGov was represented by Shea & Company.
Pamlico Capital is a private equity firm founded in 1988 that invests in growing middle market companies in North America. Pamlico Capital seeks control-oriented growth equity investments of up to $200 million alongside founders and proven leaders in its target industries: communications, healthcare, services and software. The firm, based in Charlotte, NC, has assets under management of almost $3.5 billion. For additional information, please visit www.pamlicocapital.com.