Wed, Aug 20, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Private Equity Strategies

Movers & Shakers Update: Bregal Sagemount Gets Into Emerging Civic Startup Niche

Monday, October 21, 2013

By: Bailey McCann, Private Equity Strategies

The Accela Civic Platform provides governments ways to better interact with local citizens. The platform provides cloud and mobile technologies that facilitate productivity for government workers and allow citizens to engage with their agencies 24/7. Agencies can deploy complete capabilities to streamline and manage core processes and to improve community services related to land management, licensing, asset management, and public health and safety.

Accela’s solutions support a portfolio of over 500 customers from enterprise agencies in jurisdictions such as New York City; San Francisco; Washington, D.C.; Melbourne, Australia; and the Emirate of Abu Dhabi to smaller jurisdictions including Nogales, Arizona; Roseville, California; and Westminster, Colorado. Last week, the company launched a new open-data repository that will be free to governments and civic developers that need a place to store their data. The API for those data will be available to developers who wish to create civic software applications.

The repository, CivicData.com was announced during the Code for America Summit in San Francisco, California. “The platform is absolutely free, regardless of how much you store. For our customers we have automation in place with our other Accela solutions, but you don’t have to be a customer to put data on the platform. I lead a Code for America Brigade for example, and its all volunteer, so this gives us a place to put our data for free,” Kris Trujillo, one of the platform programmers at Accela.

The platform will provide developers with multi-jurisdictional data for software creation, which could solve a repeatability problem common to civic software development. Historically, local governments and agencies have created custom solutions in-house baed on their unique needs, and often outdated computer systems. (Sometimes mainframes!) This level of customization prevents ready adoption by other governments or agencies with similar problems.

Code for America is a non-profit that pairs developers with communities to work on civic engagement issues, but a steady stream of for-profit developers are also working with governments. Civic startups are springing up all over the country with the help of accelerators like the Points of Light Civic Accelerator, which recently invested in 15 for-profit and non-profit civic startups. In some cases cities are getting in on the act seeding small companies or holding app contests, all going to support this rapidly growing ecosystem.

“With this additional capital, we believe the company can grow even faster and be the natural choice for all government agencies,” said Daniel Kim, partner, Bregal Sagemount. Daniel Kim and Blair Greenberg of Bregal Sagemount will sit on Accela’s board of directors. A portion of the $40 million was also provided by existing Accela investors.

 
This article was published in Opalesque's Private Equity Strategies our monthly research update on the global private equity landscape including all sectors and market caps.
Private Equity Strategies
Private Equity Strategies
Private Equity Strategies
Private Equity Strategies


Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Private equity follows hedge funds into reinsurance for long-term capital[more]

    From Artemis.bm: It’s not just hedge funds that are entering the insurance and reinsurance market in search of so-called long-term capital to put to work in their strategies, private equity firms targeting the space are also seeking opportunities to add assets under management. The entry of large pr

  2. North America – New York City’s next hot neighborhoods targeted with property funds[more]

    From Bloomberg.com: New York’s real estate world is filled with tales of ordinary people who bought property decades ago and saw values skyrocket to the millions. Seth Weissman is seeking investors to get in early on the next hot neighborhoods. The veteran of Goldman Sachs Group Inc. and hedge

  3. Investing – George Soros bets $2bn on stock market collapse, Warren Buffett's Berkshire reveals Charter stake, cuts DirecTV, Hedge funds lusting to cash out of MGM, Top hedge fund managers are buying Ally Financial, Hedge funds dumped 5m Herbalife shares in Q2, Paulson & Co hedge fund ups Puerto Rico real estate bet, Netflix Inc., Citigroup Inc, Google Inc are top new picks in Tiger Management’s 13F[more]

    George Soros bets $2bn on stock market collapse From Newsmax.com: Billionaire investor George Soros has increased his financial bet that U.S. stocks will collapse to more than $2 billion. The legendary hedge fund manager has been raising his negative bet on the Standard & Poor's 500 Inde

  4. Institutions – Texas Employees sets 2015 tactical plan for alternatives, CalPERS' real estate consultant cautions the pension fund's investment committee, Why Sunsuper likes hedge funds[more]

    Texas Employees sets 2015 tactical plan for alternatives From PIOnline.com: Texas Employees Retirement System will invest in up to four new hedge funds in the next fiscal year, which begins Sept. 1. Trustees approved 2015 tactical investment plans for the hedge fund, private equity and in

  5. Investors now net short S&P500 and increased Russell shorts, technicals suggest further selling[more]

    Komfie Manalo, Opalesque Asia: Market Neutral funds increased their market exposure to -1% net short from -6% net short last week, according to Bank of America Merrill Lynch’s Hedge Fund Monitor. The report also added