Zencity posted on 29 Jun 2021
Following a strong year of hyper-growth for Zencity, all of the company's investors — including TLV Partners, Vertex Ventures Israel, M12 - Microsoft’s venture fund, Salesforce Ventures, and Canaan Partners Israel — deepen their investment in community feedback analysis technology for state and local government
TEL AVIV, Israel & NEW YORK--(BUSINESS WIRE)--Zencity, the leading community insights and analytics platform for state and local governments, announced today the closing of an additional $30 million investment from existing investors — TLV Partners, Vertex Ventures Israel, Salesforce Ventures, M12 - Microsoft’s venture fund, and Canaan Partners Israel. Choosing to double down and increase their holdings in the company is a great show of confidence by Zencity’s investors and a testament to their deep commitment to the company’s mission of helping local governments measure and understand community feedback. All together, this investment brings Zencity’s total funding to over $50 million and will help Zencity continue to be a tour de force in meeting the continued need for impactful and innovative government technology.
Now, as ever, local government leaders need accurate, real-time community feedback to guide key decision-making around critical efforts such as vaccination, re-opening, and police reform. Zencity is already an invaluable tool for hundreds of state and local government agencies across four continents, and has played a vital role in supporting government leaders and their communities in everything from day-to-day management, to strategic budget and policy decisions. By helping government leaders hear from all corners of their community, including those who may not typically engage with government for a host of reasons, Zencity is also playing an essential role in enabling more equitable and inclusive governance.
Since the company’s launch in 2015, Zencity has raised $51M in funding and is now among the most well-funded SaaS startups in the government technology space. Since Zencity announced its last investment less than a year ago, the company has more than tripled the number of residents impacted, doubled the number of agencies who employ the platform, grown revenue by three times, and expanded the team to over 100 employees across four countries. This new round of funding will continue to drive Zencity’s vision of providing a single platform for community input and insight, and will power Zencity’s development of additional capabilities and offerings. It will also fuel the company’s ever-growing expansion within existing and new markets, including new engagements with state agencies and local governments in the United Kingdom and Australia.
“The past year has proven, more than ever before, that local governments are the most essential institutions of our society. We’re proud that our platform has played a role in helping leaders take into account more voices from across their communities and has helped them ensure they work for all their residents as they navigate this pivotal time,” said Eyal Feder-Levy, CEO and Co-founder of Zencity. “We’re humbled that our existing investors — who know our work, progress, and the impact that our product has on government decision-making — chose to lead this extraordinary round. This funding will allow us to double down on being a real force multiplier to our government partners.”
“Working with Zencity closely over the past year has been a rare opportunity to help realize one of the most exciting visions I have ever come across as an investor, for changing the landscape of an industry. And in Zencity’s case, this vision has been coupled with impeccable execution,” said Eitan Bek, Managing Partner at TLV Partners. “As Zencity was gearing up to its next round, doubling down and increasing our existing stake in the company was an easy decision and I’m excited to continue the journey alongside Eyal, Ido, and the Zencity team.”
“As one of Zencity's early investors, watching the company execute so well on its vision to help local government agencies better serve their residents is inspiring,” said Emanuel Timor, General Partner at Vertex Ventures Israel. “Zencity’s platform has already improved how tens of millions of Americans are able to engage with government leaders. Based on its impressive growth and the quality of its management and entire team, we were eager to more than double Vertex’s investment in Zencity.”
Earlier this year, Zencity acquired community polling company Elucd to further revolutionize how local governments receive feedback from their communities. The company has since integrated Elucd’s ongoing polling tools into the Zencity platform, creating the most comprehensive community insights and analytics platform on the market. State and local government leaders are already leveraging Zencity’s unified solution to understand trends in organic discourse, as well as proactively seek community feedback via polls and surveys.
Zencity is continuing to cement a new standard in the tools governments use for performance management and civic engagement. Through real-time, data-driven analysis of organic discourse and community surveys, Zencity delivers actionable community sentiment insights to help state and local governments better understand and address community priorities inclusively and representatively to make data-informed decisions.
Zencity is a community insights and analytics platform that provides actionable data to state and local government leaders about their residents’ needs and priorities. As the most comprehensive civic engagement solution on the market, Zencity offers government organizations insights from resident feedback through the analysis of millions of pieces of anonymized and aggregated data points alongside continuous, community-based polling. More than 200 government agencies across the United States depend on Zencity to take civic engagement to the next level in order to inform decision-making, build trust, measure progress, and ensure the efficient allocation of resources. Visit https://zencity.io for more information.
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