Israeli AI-based insights for local governments Zencity announced today the closing of a $13.5 million financing round led by TLV Partners with the participation of Salesforce Ventures and existing investors Canaan Partners Israel, Vertex Ventures, M12, and i3 Equity Partners.
Zencity uses AI to provide local government agencies with actionable insights about their communities' needs and priorities based on discourse in digital channels. The platform collects millions of resident-generated data points from a multitude of sources and using award-winning AI algorithms, transforms this mass of unstructured data into real-time and ongoing insights for local government leaders. In the past few months Zencity's platform has been pivotal in responses to Covid-19.
Founded in 2015, by CEO Eyal Feder-Levy and CTO Ido Ivri, the Tel Aviv-based company today supports over 160 cities worldwide including Los Angeles, Houston and Chicago. The company has 65 employees in its Tel Aviv office.
With this latest funding round, the company will continue to expand its product's ability to serve the state and local government agencies, particularly during these times of uncertainty. The funding will also help develop strategic partnerships and expand marketing.
Zencity CEO Eyal Feder-Levy said, "Now more than ever, this investment is further proof of local governments' acute need for real-time resident feedback. The ability to provide municipal leaders with actionable data improves the efficiency and effectiveness of their work."
Published by Globes, Israel business news - en.globes.co.il - on August 5, 2020 © Copyright of Globes Publisher Itonut (1983) Ltd. 2020