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Funding Gov Tech

Exploring the new landscape for funding and sustaining your gov tech investments


From the basics of technology funding models to exploring new, innovative public-private partnership models, this initiative will provide a wealth of information relevant to anyone involved in the budgeting, procurement, or management of government technology.

In the May revision of his proposed 2024-2025 fiscal year state budget, Gov. Gavin Newsom called for $2 billion in cuts to rolling out high-speed Internet. It’s possible, he said, “to actually achieve similar goals at a lower cost.”
The year ’s first quarter saw 2024 off to a sound start in gov tech transactions, with notable deals involving OpenGov, Axon, gWorks and Springbrook, according to market expert Jeff Cook.
Procurated, a procurement marketplace for state and local agencies, has officially launched its Canary supplier review tool after a quiet debut. The company’s CEO discusses the thinking behind the product’s design.
This is the first acquisition for OpenGov since Cox Enterprises took control of the company in a February deal that valued the gov tech firm at $1.8 billion. OpenGov plans a new suite of tax and revenue products.
Gov. Gavin Newsom signed legislation Monday on an early action budget null among legislative leaders that will cut the shortfall by about $17.3 billion — and return millions for tech to the general fund.
The procurement software vendor could soon have a bigger presence in local contracting, according to the CEO. The funding comes among other changes for companies in procurement.
The two gov tech vendors have built a large online library of public contracts. The goal is to make it easier for suppliers and public agencies to study and evaluate contracts, and craft the best deals.
The acquisition is just the latest for the Nebraska company whose software is used by municipalities, utilities and special districts. Private equity helped make this deal possible, reflecting a larger gov tech trend.
A recent survey confirms that government employees are increasingly turning to online platforms like LinkedIn to vet potential vendors. A poorly optimized personal profile could cost a vendor valuable contracts.
The cloud-based software can help public agencies better align their strategic visions with capital, operational and personnel budgets. The move comes at a busy time for the rebranded gov tech vendor.
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