Strategic Investment Will Allow GovInvest to Enhance Its Enterprise Platform and Grow Its Team to Support National Expansion
GovInvest, the pioneer of financial forecasting software for government, announced today the imminent closing of $4M in new funding led by Level Equity. This new funding brings GovInvest’s total investment by Level Equity to $15M and cumulative funding of GovInvest to $18.6M since 2015. Level Equity is a growth capital firm specializing in supporting thriving technology companies. GovInvest plans to continue to expand its team to support its accelerating client base and enhance products to meet customer demand.
Led by CEO Michael Fryke, GovInvest is focused on helping municipalities and their finance and human resources leaders streamline annual forecasting processes by automating complex analysis, enabling real-time scenarios, and increasing transparency in decision-making.
During the era of “The Great Resignation,” managing escalating labor costs and compensation data has become increasingly complex and time-consuming. In 2022, GovInvest responded by launching its new Compensation Benchmarking software to enable public agencies to analyze how competitive they are with neighboring and comparable agencies, as well as ensure employees are appropriately compensated. In addition to the company’s existing Labor Costing, Pension Management, and OPEB (Other Post-Employment Benefits) Management products, the new product solidifies GovInvest’s Enterprise Platform as the most comprehensive forecasting suite available to help governments plan today for tomorrow’s economic challenges.
“GovInvest’s new funding supports talent expansion and integrated platform development to provide everything local and state governments need to expedite and communicate all aspects of their complex forecasting processes,” said Michael Fryke, GovInvFinancial forecasting software provider GovInvest has secured $4 million in funding led by Level Equity, bringing the total investment by Level Equity to $15 million and GovInvest's cumulative funding to $18.6 million since 2015. The funding will support the enhancement of GovInvest's enterprise platform and the expansion of its team to facilitate national growth, with a focus on helping municipalities streamline forecasting processes and address labor cost challenges through products like Compensation Benchmarking.est CEO. “With this new funding round and strong market momentum, we fortify our leadership position in the financial forecasting software for government space.”