Govly Reels In $9.5 Million Series A

<p><strong><span class&equals;"legendSpanClass"><span class&equals;"xn-location">SAN FRANCISCO <&sol;span><&sol;span><&sol;strong>&&num;8212&semi; Govly&comma; a market network for public sector procurement&comma; has reeled in <span class&equals;"xn-money">&dollar;9&period;5 million<&sol;span> in Series A funding&comma; bringing its total capital raised since 2019 to <span class&equals;"xn-money">&dollar;13&period;1 million<&sol;span>&period; Global software investor Insight Partners led the funding round with participation from YCombinator&comma; FundersClub&comma; and NordicEye&period; Govly plans to use the funding to build new products that further its mission of making selling to governments simple and transparent&period;<&sol;p>&NewLine;<p>The federal procurement process is fraught with red tape&comma; siloed information&comma; and manual processes&period; Many contracts are not published or available to the public&comma; and those that are end up buried within byzantine government portals&period; To address this problem&comma; Govly built a platform that is democratizing access to these contracts and creating opportunities for companies operating within the US federal government procurement supply chain&period;<&sol;p>&NewLine;<p>Govly&&num;8217&semi;s platform makes it easy for users to find&comma; track&comma; and analyze contract requirements across disparate sources&comma; as well as uncover new partners and coordinate stakeholder action throughout procurement processes&comma; from initial solicitation to award&period; Companies like Hewlett Packard Enterprise&comma; Nutanix&comma; and CDW-G rely on Govly to identify opportunities to sell to the government and to collaborate with their channel partners to prepare and submit bids&period; Govly plans to extend the platform to serve the US SLED &lpar;State&comma; Local&comma; Education&rpar; market and government contractors outside <span class&equals;"xn-location">the United States<&sol;span>&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Government contracting has remained stagnant for too long&period; Modernizing this process has been a vision of ours for many years&comma; and as shown by our customers and product adoption&comma; it&&num;8217&semi;s a vision that others working with the federal government are excited about&comma;&&num;8221&semi; said <span class&equals;"xn-person">Mike Weiland<&sol;span>&comma; Founder and CEO of Govly&period; &&num;8220&semi;With Insight Partners as an investor&comma; Govly will make big strides in facilitating simple&comma; transparent&comma; and competitive interactions between industry and governments&comma; ultimately benefiting the collective taxpayer&period;&&num;8221&semi;<&sol;p>&NewLine;<p>&&num;8220&semi;The U&period;S&period; federal government acquisition process is complicated and opaque&comma; even to companies already serving government&period; Using Govly&&num;8217&semi;s platform&comma; companies can make simpler work of identifying contract opportunities&comma; finding partners&comma; and submitting bids&comma;&&num;8221&semi; said Nick Sinai&comma; Senior Advisor at Insight Partners&period; &&num;8220&semi;We&&num;8217&semi;re excited to work with the Govly team as they continue scaling their platform and drive even more value for the government&comma; suppliers&comma; and the American people&period;&&num;8221&semi;<&sol;p>&NewLine;