FOR IMMEDIATE RELEASE: March 29, 2017
CONTACT: Kate Anderson, 617.773.4842, firstname.lastname@example.org
MassVentures Invests in ClearGov, Participates in $1.2 Million Seed Round
Boston, MA – MassVentures announced today that it has participated in the latest round of funding for ClearGov, a leading provider of local government transparency and benchmarking solutions. The seed round was led by Kepha Partners.
Founded by serial entrepreneurs, Chris Bullock and Bryan Burdick, ClearGov helps local governments operate more effectively by transforming large, complex public data sets into actionable fiscal insights. The company has built a network of over 20,000 financial infographic-style profiles of local governments across 20 states. Their extensive benchmarking database contains detailed analytics on over $1.8 trillion of government expenditures.
Local governments use ClearGov’s enterprise SaaS solution to reduce operational inefficiencies, make informed budgetary decisions, and improve communication with citizens. Taxpayers use ClearGov to better understand how their local government operates, see how their tax dollars are put to work, and how their local government’s financial performance compares to other cities and towns.
The company’s premium InsightsTM service allows local governments across the country, from Brookline, MA to Decatur, GA, to enhance their basic ClearGov profiles with more granular financials and commentary on fiscal trends. Through InsightsTM, local governments can provide residents with a clear picture of the city/town’s financial health. The dashboard can include a full breakdown of revenues, expenses, debts, and reserve funds, as well as demographics and information on schools. All of the information is presented in easily understood graphics and is contextualized with comparison figures from similar towns.
“ClearGov has created an invaluable tool not only for citizens, but also for government officials to access and, more importantly, utilize public spending, taxation and budgeting information,” said Jennifer Jordan, vice president at MassVentures.
“This investment is an important step in our vision to make democracy work better. ClearGov is much more than financial transparency; we are providing insights to taxpayers and officials that can help improve the effectiveness of their local government” said Chris Bullock, CEO and founder of ClearGov. “Ultimately, we believe our platform has the potential to positively impact millions of people through more a more informed and efficient democracy.”
“ClearGov’s team has a proven entrepreneurial track record and the company’s traction with local governments in Massachusetts speaks for itself,” said Eric Hjerpe, partner at Kepha Partners. “The company’s solution is incredibly topical as governments are increasing battling misinformation, making the need to improve transparency and build public trust ever more important,” he continued.
MassVentures is a quasi-public venture capital firm focused on fueling the Commonwealth’s innovation economy by funding early-stage, high-growth Massachusetts startups as they move from concept to commercialization.
ClearGov transforms city and town financial statements into accessible, easy-to-understand infographics to help citizens better understand how their tax dollars are being put to use. Local governments and school districts use ClearGov’s SaaS solutions to reduce operational inefficiencies, make informed budgetary decisions, and improve communication with citizens.