The firm has invested in seven new companies, one of which it is still keeping secret. One of the companies, Neighborly, announced an investment from the fund as part of its Series A round in May.
The five previously unannounced Govtech Fund companies are:
At the TiECon investment conference in Santa Clara, Calif. in May, Govtech Fund Managing Partner Ron Bouganim said the fund had reached 13 investments — only 12 are currently listed on the fund’s website. Bouganim did not respond to requests for more information.
Ted Price, CEO of GovInvest, confirmed by email that the Govtech Fund led a $2.17 million seed investment round for the company.
Felicia Curcuru, CEO of Binti, wrote in an email that the Govtech Fund made an investment in her company independent of an actual fundraising round.
At TiECon, Bouganim said the companies he invests in are meeting aggressive growth metrics.
“Our 13 companies today are connected to about 20,000 agencies, we’re adding about 10 a day as a group and our average sales cycle is something like 76 days,” he said.
Ben Miller is the business beat staff writer for Government Technology. His reporting experience includes breaking news, business, community features and technical subjects. He holds a Bachelor’s degree in journalism from the Reynolds School of Journalism at the University of Nevada, Reno, and lives in Sacramento, Calif.