- ClearGov recently announced a $20 million growth round. These are the details.
Leading Budget Cycle Management company ClearGov recently announced a $20 million strategic growth investment led by Frontier Growth, a growth equity firm specializing in supporting thriving software companies. Frontier Growth Partner Michael Ramich will join ClearGov’s board of directors in connection with the funding.
With funding and strategic guidance from Frontier Growth, ClearGov will expand its team to support its fast-growing customer base, expand and enhance its products to incorporate customer feedback, and meet the growing demand for affordable and easy-to-use government budgeting software solutions.
Last year, ClearGov launched its new Capital Budgeting and Personnel Budgeting software solutions. In addition to the company’s existing Operational Budgeting, Digital Budget Book, and Transparency products, the 2 new products complete the company’s Budget Cycle Management suite. ClearGov’s Budget Cycle Management suite is an integrated platform that provides everything local governments need to collect, create, and communicate all aspects of their budget processes. And while each product can be used separately, full-suite clients quickly realize levels of collaboration, efficiency, and transparency that are far greater than the sum of its parts.
“Given Frontier Growth’s deep experience in the GovTech sector and their enthusiasm for our market position, we felt they were a perfect fit to lead this round. With this new round and our strong momentum, we intend to fortify our leadership position in the local government budgeting and communications space.”
— Chris Bullock, ClearGov CEO & Co-founder
“When we’re evaluating growing software companies to invest in, strong financials are only the beginning. In addition to ClearGov’s proven track record and potential for growth, we were impressed with their commitment to modernizing the local government budget process. A more efficient budget process saves governments time and money, promotes transparency, and makes critical financial data more accessible to its citizens. That’s the kind of company worth investing in.”
— Michael Ramich, Frontier Growth Partner
“Frontier Growth has a tremendous track record for helping rapidly growing tech companies accelerate their ability to scale even faster. We are excited to put this capital infusion to work to ensure that we continue to support our current customers and bring modern software solutions to even more local governments.”
— Bryan Burdick, ClearGov President & Co-founder