Govly Raises $9 Million in Series A
Govly, a Denver, CO-based market network that focuses on public sector procurement, particularly within the U.S. federal government, raised $9 million in Series A funding, bringing its total raised to $13.1 million.
Govly, a Denver, CO-based market network that focuses on public sector procurement, particularly within the U.S. federal government, raised $9 million in Series A funding, bringing its total raised to $13.1 million.
SaaS Investors
The round was led by Insight Partners, with participation from YCombinator, FundersClub, and NordicEye.
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startups and ScaleUp companies that are driving transformative change in their industries. As of June 30, 2023, the firm has over $80B in regulatory assets under management. Headquartered in New York City, Insight has offices in London, Tel Aviv, and the Bay Area.
Govly Use of Funds
The company plans to utilize the funding to build new products and features that align with its mission of simplifying and enhancing the process of selling to government entities. The company also plans to expand its platform to serve the US SLED (State, Local, Education) market as well as government contractors outside the United States.
About Govly
Founded in 2021 by Michael Weiland, Nick Weiland, and Jon Wright, Govly was created with the mission of making public sector procurement simple, transparent, and competitive. Govly's platform aims to simplify and democratize the process of selling to government entities by providing access to government contracts and making the procurement process more transparent and efficient. Over 200 companies use Govly to network with partners, identify opportunities, and collaborate on submitting bids.
Funding Details
Company: Govly, Inc.
Raised: $9.0M
Round: Series A
Funding Month: November 2023
Lead Investors: Insight Partners
Additional Investors: YCombinator, FundersClub, and NordicEye
Company Website: https://www.govly.com/
Software Category: Contract Management Software
