Neighborly Software, a leading provider of an end-to-end SaaS platform that manages government-funded programs’ enrollment, administration, and reporting, announced a significant growth investment from Falfurrias Management Partners, a Charlotte-based investment firm focused on growth-oriented middle-market businesses.
This funding will accelerate Neighborly Software’s continued growth by enabling further investments in the existing platform, new technology, enhanced products, geographic expansion, and sales & marketing.
Since 2016, Neighborly Software served over 400 customers, including city / municipal governments, state governments, housing authorities, and non-profit organizations. And the company’s platform was purpose-built by industry experts and is mission-critical to the complex workflows involved in managing government-funded programs, especially housing, economic, community development, disaster recovery/mitigation, home energy rebate programs, and housing choice voucher programs.
The company’s platform features a broad range of modules that provide a full-stack solution, covering grant/application management, case management, loan administration, construction, asset monitoring, and reporting, among other capabilities. Neighborly Software has evolved over time to continue to adapt to its customers’ needs and has developed long-term relationships by creating a product that serves as the backbone for ensuring compliance, efficiency, and effectiveness with government-funded programs. So far, the platform has managed the disbursement of approximately $13 billion in grants, 7.2 million applications, and 1,500 unique projects.
Jason Rusnak, co-founder and president, and Chris Behm, co-founder and COO, will continue to lead the company. And the equity for this investment comes from Falfurrias Growth Partners I, a growth fund strategy launched by Falfurrias in 2023, and builds on the firm’s experience in software and municipal technology.
Morris, Manning & Martin and Dearth Law provided legal counsel to Neighborly Software and Software Equity Group (SEG) served as the exclusive advisor to Neighborly Software. Holland & Knight served as legal advisors to Falfurrias.
KEY QUOTES:
“Neighborly Software is revolutionizing the funding landscape with its modern approach to government funded program management.
-Jason Rusnak
“We’re excited about this next stage of growth and the opportunities it presents to provide more value to our existing customers, support more government-funded programs, and invest further in product development, ensuring that Neighborly Software makes an even greater impact on communities” said
-Chris Behm
“We identified Neighborly Software through our Industry First research, which validated the long term growth trends in the municipal technology sector, as well as Neighborly Software’s innovative approach in the market. With our resources and operational expertise combined with their domain knowledge, passion for helping communities, and differentiated solutions, we are excited to support Neighborly Software in this next phase of growth.”
-Michael Clifton and Amy Brandt, Partners at Falfurrias
