– USA, CA – Accela, the leading provider of cloud-based civic engagement solutions for government, announced today that it has closed $143.5 million in new financing. Accela will deploy the new capital to round out its cloud offering, expand the capabilities of the Civic Platform, and scale sales efforts for its worldwide installed base.
The Civic Platform is transforming how governments interact with citizens and businesses by deploying cloud technology to modernize civic processes. Accela will capitalize on the $30 billion local and regional governments spend annually on software.
“The marketplace for government SaaS solutions is expanding rapidly as agencies look to increase service levels without significant capital expenditures,” said Maury Blackman, Accela President and CEO. “We believe doing business with government can be as simple and engaging as buying products on Amazon or hailing cars via Uber.”
The latest funding round brings the total capital raised by the Company to more than $200 million in the past 15 months, which includes a $40 million growth equity investment led by Bregal Sagemount in October 2013 and $20 million in debt financing raised from Wells Fargo Capital Finance. Credit Suisse acted as the exclusive private placement agency to the Company.
“We are just beginning to tap the potential of civic technology for government,” commented Tyler Wick of ABRY Partners and incoming board member. “We are investing not only in Accela’s differentiated and comprehensive Civic Platform offering, but also in the future impact that these solutions can have on government agencies and the communities they serve.”
About Accela
Accela provides cloud-based civic engagement solutions for government. Accela’s Civic Platform, which includes open APIs and mobile apps, enables and improves core processes for city, county, state and federal governments. Accela’s solutions uniquely address the diverse needs of their constituents by making publicly available information more accessible. The Accela Civic Platform includes solutions for land management, asset management, licensing and case management, legislative management and more. With more than 1,000 customers worldwide, Accela is headquartered in San Ramon, California, with offices in San Francisco, New York, Melbourne and Dubai.
About ABRY Partners
Founded in 1989, ABRY Partners is one of the most experienced and successful media, communications, business and information services focused private equity investment firms in North America. Since its founding, ABRY has completed over $42 billion of transactions, representing investments in over 450 properties. The firm is currently managing over $4.3 billion of total capital and investing out of a $1.9 billion private equity fund, $950 million senior equity fund and a $1.5 billion senior debt fund.
- Disclaimer - News, data, and statements included in this release are intended exclusively for general information purposes. Talent4Boards does not guarantee that news is accurate or about the correct person and accepts neither liability for the consequences of the reader’s reliance, nor responsibility for the accuracy of the information. Nothing in this release should be considered for decisions about referred securities. Products and brand names may be trademarks or registered trademarks of their respective owners.
