Israeli smart city platform developer for local governments Zencity has announced the completion of a $40 million Series C financing round led by StepStone Group, with participation from existing investors TLV Partners. This brings the total raised by the company to $91 million.
The company has developed an accessible and effective solution for city, county and agency teams seeking to broaden their understanding of the views of the public, bring those insights into their day-to-day work, and communicate with the communities they serve. Eight out of ten of the biggest cities in the US are among Zencity's customers.
The company says that the new funds will be used to advance its AI capabilities, including new hires in engineering and data science, and in enhanced customer service for Zencity’s local government partners worldwide.
Zencity was founded in 2015 by CEO Eyal Feder-Levy and CTO Ido Ivri.
Feder-Levy said, "Zencity’s mission is to build trust between local governments and the communities that they serve. Our new partnership with StepStone will enable us to set the standard for this important mission through investment in technology, people, and most of all - in our partners. AI-powered capabilities, like the one we’re launching today, put best-in-class technology in the hands of local government leaders that will accelerate that goal, by lowering barriers to seeking community input, and more easily making sense of data we will drive outcomes for the communities that our government partners serve."
The company recently added New York City, Dallas, LAPD, and the London Metropolitan Police (UK) as customers, as well as its first national government agency, the UK Department for Levelling Up, Housing and Communities. The company today serves cities, counties and agencies in over 40 US states, covering 200 million people.
Published by Globes, Israel business news - en.globes.co.il - on June 18, 2024.
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