The momentum the GovTech market established in the second half of 2023 is set to continue into 2024, getting the year off to a strong start. Q1, which included Cox Enterprise’s $1.8 billion acquisition of OpenGov, marked the fourth quarter of increased deal volume and the most active quarter since Q1 2021.
Activity in the government tech market doesn’t appear to be slowing down as we approach the midpoint of 2024. In fact, on the very day of this ICYMI episode, private equity firm Bain Capital announced it would acquire PowerSchool for $5.6 billion.
Will we continue to see a diversity of deals driving deal volume rather than a few or a handful of deals? Will more data points lead to more deals and more consistency in valuations? Are there any predictable economic or political factors that could impact the market for the remainder of the year?
Dustin Heisler sat down with government tech market experts Jeff Cook, Managing Director at Shea and Company, and Rachel Stern, Founder and CEO of Govtech Ventures, to discuss the key market trends they’ve seen so far. They shared their thoughts on deals, fundraising, and areas for investors to focus on, offering advice for both startups looking to enter the market and investors who haven’t previously considered govtech.
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“In Case You Missed It” Government Technology‘s weekly news roundup and live interview show features e.Republic* President Dustin Haisler and Chief Innovation Officer Joe Morris offering analysis and insight into the week’s most important news stories in state and local government.
It will be streamed live on LinkedIn and YouTube every Friday at 12pm PST.
*e. The Republic Government Technology Parent company.
