PSD Citywide, a leading provider of cloud-based enterprise asset management (EAM) solutions for municipalities, announced that it has received a strategic growth investment from Norwest, a global growth equity and venture capital firm.
The partnership will enable PSD Citywide to expand its footprint across the United States and Canada, enhance product innovation, and strengthen operational efficiency for its growing base of municipal customers.
The investment marks a significant milestone in PSD Citywide’s journey from a municipal data and analytics publisher to an industry leader in comprehensive asset management technology. The company’s Citywide Platform empowers municipalities to manage aging infrastructure, optimize budgets, and deliver improved citizen services through a unified suite of tools that digitize and simplify public works and asset management operations.
PSD Citywide’s software platform includes five modular, fully integrated cloud products designed for municipal operations, including asset management, permitting, planning and licensing, budgeting, and geographic information system (GIS) mapping. The platform provides a robust mobile experience, an open API for integration, and an intuitive interface that allows users to access data insights for effective decision-making easily.
The company currently helps manage over $400 billion in municipal assets, and its tailored implementation model ensures that each client receives configurations suited to their specific operational needs. Over the past year, PSD Citywide has recorded more than 300% growth in the U.S., demonstrating strong momentum in a market that is increasingly seeking specialized solutions for public infrastructure management. The partnership with Norwest positions PSD Citywide to accelerate this growth trajectory while deepening its presence in both Canada and the U.S.
With this investment, Norwest General Partner Ran Ding, Principal Chris Sondej, and Vice President Gabe Stauber will join the PSD Citywide board of directors, further strengthening the company’s strategic oversight as it scales.
Support: EY Parthenon served as exclusive financial advisor for PSD. Stikeman Elliott served as legal counsel for PSD. Osler, Hoskin & Harcourt and Weil, Gotshal & Manges served as legal counsel to Norwest.
KEY QUOTES:
“The Citywide Platform empowers municipalities to overcome the challenges posed by aging infrastructure, budget constraints, inefficient processes and disconnected technologies. What began as an industry publication has evolved into the most scalable, secure and purpose-built solution helping hundreds of municipalities manage their physical assets and provide a better citizen experience. We welcome Norwest’s deep expertise in government technology and their proven ability to partner with founder-led companies as we prepare for rapid expansion across the U.S. and Canada.”
Matt Dawe, Founder and CEO, PSD Citywide
“Municipal leaders can unlock tremendous value by digitizing core asset management workflows and deploying software designed specifically for the complexities of managing public infrastructure. PSD Citywide stands out with its purpose-built platform, deep customer relationships and consistent growth. Matt and the PSD Citywide team have demonstrated an exceptional commitment to helping municipalities manage their critical infrastructure and better serve their communities. With our team’s experience scaling GovTech SaaS platforms and our conviction in PSD Citywide’s roadmap, we’re excited to support the company’s continued expansion across North America.”
Chris Sondej, Principal, Norwest
