IE 11 Not Supported

For optimal browsing, we recommend Chrome, Firefox or Safari browsers.

Munetrix Takes Investment from Brand-New Private Equity Firm

The company, which provides data publication and other services to municipalities and schools, will be the very first investment for a new private equity firm. The move appears to position Munetrix for an eventual sale.

Munetrix, a gov tech company that provides data publication and other services to municipalities and schools, has received the backing of a brand-new private equity firm.

The investment — of an unspecified amount — is the very first for Essex Bay Capital. Munetrix, based in Michigan, helps its clients publish data dashboards and do other work with data such as reporting compliance and report generation.

The deal appears to position Munetrix for an eventual exit — typically, that would be a sale to a larger company. Private equity firms often look to increase the value of the companies they invest in and then sell their stake.

Additionally, veteran gov tech entrepreneur Steve Ressler will be joining Munetrix’s board as part of the deal. Ressler, himself an investor, has held leadership roles at three companies that would eventually be acquired: GovLoop, GovDelivery and Callyo.

In a press release, Munetrix wrote that the new funding from Essex Bay will be put toward product development, customer support and sales.

“I could not be more proud of the Munetrix team for living our mission and delighting our customers every single day by helping hundreds of K-12 school districts and municipalities on financial planning, budgeting, transparency and academic outcomes,” said Buzz Brown, the company’s co-founder and CEO, in the statement. “We are excited to work with our new partners at Essex Bay who understand and appreciate our core values, and who will support our vision for product innovation and growth, both organically and through acquisitions.”

Aside from gov tech, Essex Bay will seek to invest in industrial and medical technologies, food products and software. It plans on investing in companies with between $1-8 million in earnings or cash flow as well as $5-60 million total enterprise value.
Special Projects
Sponsored Articles
  • Sponsored
    Election cybersecurity is one of the hottest topics in the country today. It dominated both the 2016 and 2020 presidential elections, and most likely will continue to do so until state and local governments can demonstrate that their voting infrastructure and solutions are as secure and tamper-proof as possible.
  • Sponsored
    Data privacy and security are growing concerns for government organizations as well as the constituents they serve. In addressing those concerns, public agencies may be able to learn from steps taken by companies in the private sector, says Bryan Shea, vice president of data security and privacy at Hayden AI, which provides autonomous traffic management technologies to governments.
  • Sponsored
    Digital payments in the U.S. have increased significantly, reaching a penetration of 78 percent in 2020, according to McKinsey’s annual Digital Payments Consumer Survey.
  • Sponsored
    IT leaders in public sector agencies and higher education crave a simpler way to manage their high-availability databases. One path to simplicity is the hyperconverged database platform.