Cox Enterprises has announced its acquisition of OpenGov, a provider of cloud software for cities and state agencies, in a deal valued at $1.8 billion. OpenGov, co-founded in 2012, has played a significant role in assisting thousands of government entities. The acquisition marks a significant milestone in the company's journey, reflecting on its growth from a valuation of $64 million in 2014, when investor @pmarca (Marc Andreessen) took a board seat, to its current valuation. This deal not only signifies a big exit for early investors like Andreessen but also highlights the company's impact on enhancing government operations through its software solutions. The acquisition by @CoxEnterprises, an existing investor and owner of Axios, is seen as a strategic move to further the reach and effectiveness of OpenGov's offerings.
Congrats @JC2Ventures-backed @OpenGovInc on securing a major investment valued at $1.8B from @CoxEnterprises! The #startup has truly disrupted the govtech industry & this partnership will enable an even bigger impact on local governments in the U.S. https://t.co/qHaax3LzpX
A great day for @OpenGovInc, which helps 1000s of state & local govts function effectively and transparently. Congrats @ZacBookman & friends, and thank you to a legion of supporters. Enjoy @jtlonsdale’s reflections on an incredible (and ongoing!) journey: https://t.co/sbBGcBTXRG
Boom. Big win. Happy to have led an investment in @ZacBookman and @OpenGovInc almost 10 years ago. Great writeup by Joe! https://t.co/krRZPvAHMX
The @OpenGovInc story marks a tremendous new chapter today, and in this post, @JTLonsdale takes us behind the scenes of a remarkable dozen years. https://t.co/SwJgQ2Xdmx
Cox Enterprises is buying OpenGov in a deal valuing the company, which provides cloud software for cities and state agencies, at $1.8B (@laurenthomas / Wall Street Journal) https://t.co/ZiEFcNMPlX 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/KAuFC46IJa
Huge congrats to our @metrics_co co-founder @JTLonsdale as well as our angel @ZacBookman. What a journey and an incredible outcome for @OpenGovInc! 🎉 https://t.co/yLKXv5ERj3
Big exit for @pmarca Invested in OpenGov at $64m valuation in 2014 and took board seat. Today it sells for $1.8 billion to @CoxEnterprises (an existing OpenGov investor, and also the owner of Axios). OpenGov provides cloud software to governments. https://t.co/FTZKRt6xLL
We founded @OpenGovInc in 2012; today we announce its acquisition by Cox Enterprises for $1.8 billion. I’m proud to have helped 1000s of govt’s and excited for the company’s future; I wrote some reflections on the journey, and THANK YOU to many allies! https://t.co/ZPNgHHplrn
Scoop: Cox Enterprises has struck a $1.8 billion deal for government-software provider OpenGov. https://t.co/IncBKfV4ly
Cox Enterprises is buying OpenGov in a deal that values the provider of software for cities and state agencies at $1.8 billion https://t.co/3GD8UH67gd