Software firm OpenGov acquires ProcureNow
The enterprise resource planning software firm OpenGov on Wednesday announced it’s acquired ProcureNow, a cloud-based service for government procurement and contract management.
OpenGov, which has been used for projects like one by the Idaho State Controller’s office to lend greater transparency to state spending, noted in a press release that ProcureNow’s specialities complement its own businesses, which will allow the combined companies to provide an entirely cloud-based suite of products that enable “government leaders to serve stakeholders with the most effective solutions designed to streamline critical workflows, enable data-driven decisions, and communicate results transparently.”
“OpenGov and ProcureNow share the mission to power more effective and accountable government and our vision is to bring the best cloud solutions to every public sector organization,” Zac Bookman, OpenGov’s co-founder and chief executive, said in the press release.
OpenGov’s other applications support budgeting and planning, citizen services, financial management, reporting and transparency.
A spokesperson said the companies will not disclose the financial details of the acquisition. The deal follows a 2019 announcement by OpenGov that it raised $51 million in funding, totaling $140 million raised since 2012.