SACRAMENTO, Calif., Jan. 07, 2020 (GLOBE NEWSWIRE) -- Government Technology magazine released its annual GovTech 100, a compendium of 100 companies focused on making a difference in – and selling to – state and local governments.
Gov tech has earned recognition as its own market segment through the work of a growing number of companies – and the investors that back them – in helping governments perform mission-critical work while serving their communities more effectively. The fifth annual GovTech 100 analysis also highlights the market’s accelerating growth and maturity.
“Year five of the GovTech 100 is one of the strongest we’ve seen, as companies both large and small are tackling more complex problems around state and local government,” said e.Republic Chief Innovation Officer Dustin Haisler, who was heavily involved in the list’s creation.
Among the companies new to the list this year are Utilis, a space-based detection technology that uses satellite imagery and data analysis to detect water infrastructure leaks, and 3AM Innovations, a company that provides situational awareness technology to increase firefighter safety.
The GovTech 100 for 2020 collectively raised $4.8 billion in funding from over 530 unique investors to scale their companies and products in the market.
“Companies in the gov tech market are going deeper into new types of government agencies, including special districts, and wider into vertical areas such as licensing and permitting,” Haisler said.
There have also been considerable mergers and acquisitions by gov tech companies.
“There have been 181 acquisitions made by just the 100 companies represented in this year’s GovTech 100 list, further demonstrating the maturity and consolidation happening in the market,” said Haisler. “As more investors enter the market – including numerous new private equity companies – many standalone solutions are becoming rolled up into new platform companies to better serve the market. We expect 2020 to be another strong year as gov tech companies help government agencies navigate new challenges around infrastructure, data, privacy, experience and more.”
About Government Technology | www.govtech.com
Government Technology is about solving problems in state and local government through the smart use of technology.
Government Technology is a division of e.Republic, the nation’s only media and research company focused exclusively on state and local government.
Dustin Haisler, Chief Innovation Officer, e.Republic