OpenGov Raises $51 Million to Fuel Government Technology Leadership

REDWOOD CITY, September 3, 2019 – Today, OpenGov, the leader in enterprise cloud solutions for government, announced a $51 Million Series D financing round led by experienced GovTech investors Weatherford Capital and 8VC, with participation from existing investor Andreessen Horowitz.

With this new round of funding, OpenGov has now raised more than $140 million from Andreessen Horowitz, 8VC, JC2 Ventures, Emerson Collective, and other top investors since its founding in 2012.  The latest financing will be used to fuel OpenGov’s growth as the company continues to develop and go to market with best-in-class technology, including end-to-end budgeting, performance, communications, and reporting solutions for government.

“OpenGov’s mission to power more effective and accountable government is driving innovation and transformation for the public sector at high speed,” said OpenGov CEO Zac Bookman.  “This new investment validates OpenGov’s position as the leader in enterprise cloud solutions for government, and it fuels our ability to build, sell, and deploy new mission-critical technology that is the safe and trusted choice for government executives.”

Will Weatherford, former Speaker of the House for the State of Florida and Managing Partner of Weatherford Capital, said, “OpenGov’s innovative technology, accomplished personnel, market leadership, and mission-first approach precisely address the growing challenges inherent in public administration.  We are thrilled at the opportunity to partner with OpenGov to accelerate its growth and continue modernizing how this important sector operates.” 

In addition to its high-profile investors, OpenGov touts one of the strongest boards in all of technology, including Chairman Joe Lonsdale, Founding Partner of 8VC and Co-Founder of Palantir; Katherine August-deWilde, Co-Founder and Vice-Chair of First Republic Bank; John Chambers, Founder and CEO of JC2 Ventures and Former Chairman and CEO of Cisco Systems; Marc Andreessen, Co-Founder and General Partner of Andreessen Horowitz; and Zac Bookman, Co-Founder and CEO of OpenGov.

Over 2,000 governments leverage OpenGov today as the public sector continues to adopt The OpenGov Cloud™ in record numbers.  The company has recently announced partnerships with the State of West Virginia, the State of Oklahoma, the Idaho State Controller’s Office, the City of Minneapolis MN, and Suffolk County NY.

About OpenGov

OpenGov is the leader in enterprise cloud solutions for government. The OpenGov Cloud™ is the only integrated cloud solution for budgeting, performance, communications and reporting. This multi-tenant Software-as-a-Service ("SaaS") solution connects stakeholders to the budget process, engages them for real-time feedback, accurately forecasts personnel costs, and integrates with key government systems, resulting in improved outcomes, enhanced internal efficiencies, and more time for strategic planning.

Over 2,000 public agencies use OpenGov—including the State of Ohio; the City of Richmond, VA; and Lincoln, NE.  OpenGov was founded in 2012, and is backed by Andreessen Horowitz, Emerson Collective, 8VC, Thrive Capital, and Weatherford Capital.

For more information, please visit www.opengov.com.

Caroline Collins
Weatherford Capital Adds David Seider as Vice President

TAMPA, July 23, 2019 – Weatherford Capital, a leading family-owned private investment firm, today announced the hiring of David Seider as a Vice President. Mr. Seider will be responsible for investment analysis, transaction execution, and portfolio management.  

“We are very pleased to welcome David to the team,” said Will Weatherford, Managing Partner at Weatherford Capital. “As we continue to build our firm and seek new investment opportunities, it is imperative that we have the right people in place. David is a very talented investment professional, but more importantly, he is a person with high character. We are confident that David will be a great addition to our team and we look forward to his contributions to Weatherford Capital.”

“I am thrilled and honored to be joining Weatherford Capital,” said David Seider. “The Weatherford team has built a great reputation of being a “value added” investor partnering with both management teams and co-investing alongside other private equity firms. I look forward to working with the entire team to help the firm continue its strong momentum!”

Prior to joining Weatherford Capital, David led merger and acquisition execution for Roper Technologies. Previously, David was a Senior Associate at Ballast Point Ventures and an Investment Banking Analyst at Raymond James Financial.  David earned his BS degree in Business Administration from the University of Florida’s Warrington College of Business, and is a member of the Florida Blue Key leadership honorary. He earned his MBA from Duke University’s Fuqua School of Business and was a Fuqua Scholar.

About Weatherford Capital

Weatherford Capital is a family-owned private investment firm founded in 2015. Our team has over 30 years of investment experience conducting over 60 transactions across the globe. In partnership with family offices, we make direct private equity, real estate, and venture investments with people who share our commitment to excellence, integrity, faith, family, and community.  For more information, please visit www.weatherfordcapital.com.

Caroline Collins
Drew Weatherford Elected to Florida Venture Forum Board of Directors

TAMPA, July 17, 2019 – Weatherford Capital, a leading family-owned private investment firm, today announced that Drew Weatherford, a Partner at the Firm, has been elected to the Florida Venture Forum Board of Directors.

Founded in 1984, the Florida Venture Forum is the preeminent private equity, venture capital and angel capital organization in Florida. The membership-based organization, which provided access to the equity financing needed for sustainable and scalable growth, is a catalyst for accelerating and driving the economic development of Florida. The Forum's comprehensive activities facilitate the creation of an innovation and high-wage economy by preparing, coaching and linking entrepreneurs and growing Florida businesses.

“The Florida Venture Forum’s membership represents a ‘who’s who’ of business and investment leaders active in all facets of the venture capital industry, and our board, in particular, is comprised of people who are passionate about helping entrepreneurs and their companies, and our local communities, grow and prosper,” said Kevin Burgoyne, President and Chief Executive Officer of the Florida Venture Forum. “We have been extremely fortunate to have the support of Weatherford Capital as a member for many years, and I’m even more pleased that Drew has agreed to join our board. His entrepreneurial spirit, dedicated work ethic and deep Florida roots will be invaluable to our organization, and we look forward to his contributions and input for years to come.”

“The Florida Venture Forum is an organization that I have closely followed and admired for the past few years,” said Drew Weatherford. “I am fully aligned with the organization’s commitment to support business founders who are actively seeking to scale their businesses within our great state. It is an honor to have the opportunity to serve on such a high caliber and diverse Board, and I am eager to begin playing an active role by collaborating with my fellow Board members.”

Drew Weatherford Biography

Drew is a Partner at Weatherford Capital, and primarily responsible for deal sourcing, investor relations, and providing value-added services to our portfolio companies. Prior to the establishment of Weatherford Capital, he co-founded Strategos Group, a leading business consultancy and advocacy firm in Florida. Drew has successfully built and exited two multi-million dollar consulting firms while creating several hundred million dollars in project value for his clients. Before his start in business, Drew lead the Florida State University football team for three years as starting QB.  Drew co-founded and serves on the boards of several companies and organizations including Accelerator 111, Sense of Place Development, and Onbikes. Drew earned his B.S. degree in Finance and Real Estate from Florida State University’s College of Business and M.B.A. degree from the Kellogg School of Management. He and his wife, Morgan, reside in Tampa, Florida with their two children.

About the Florida Venture Forum              

The Florida Venture Forum is Florida’s largest statewide support and networking organization for venture capitalists and entrepreneurs, helping startup and growth companies connect with the capital sources and business services they need to grow and scale. To date, companies presenting at Forum conferences have gone on to raise over $6 billion in equity capital, and a third party economic impact study concluded that the Forum has contributed nearly $9 Billion in overall economic value to the State of Florida. The Forum hosts networking and educational programs throughout the year in addition to producing the annual Florida Venture Capital Conference, Florida Statewide Collegiate Business Plan Competition and Florida Early Stage and Angel Capital Conference.  For more information, visit http://www.flventure.org or e-mail pat@flventure.org or kevin@flventure.org.

About Weatherford Capital

Weatherford Capital is a family-owned private investment firm founded in 2015. Our team has over 25 years of investment experience conducting over 50 transactions across the globe. In partnership with family offices, we make direct private equity, real estate, and venture investments with people who share our commitment to excellence, integrity, faith, family, and community. For more information, please visit www.weatherfordcapital.com.

Caroline Collins
Weatherford Capital Portfolio Company PayIt Receives Investment from Insight Partners

TAMPA, March 29, 2019 – Weatherford Capital, a leading family-owned private investment firm, today announced its portfolio company PayIt has received an investment in excess of $100 million from Insight Partners, a New York-based venture capital and private equity firm. Weatherford invested in PayIt in 2016. 

Kansas City, Missouri-based PayIt makes it simple, secure, and seamless for governments to accept digital payments and serve their constituents across web, desktop, and mobile. Its dynamic, cloud-based solutions are purpose-built for the public sector with modules spanning Motor Vehicle, Taxes, Utilities, and more. The new funding will allow PayIt to continue expanding its footprint and product capabilities.

 “We are very pleased with PayIt’s success over the past several years and thrilled to welcome Insight Partners as an investor,” said Will Weatherford, Managing Partner, Weatherford Capital. “Under the leadership of John Thomson, PayIt has enjoyed continued strong growth, helping more individuals simplify doing business with local, state, and federal governments. As long-term investors, we are delighted to maintain our partnership with John and his team and look forward to a close collaboration with Insight Partners to help build further value in PayIt.” 

“With their diverse investment, consulting and public sector experience, Weatherford Capital has proven to be a valued financial and strategic partner,” said John Thomson, Founder & CEO, PayIt. “As we begin this relationship with Insight Partners, we believe PayIt is poised for further accelerated growth. We are pleased Weatherford is remaining as an investor and continuing to serve on our board, and are confident they will continue to be meaningful participants in the ongoing evolution of PayIt.”

About Weatherford Capital
Weatherford Capital is a is a family-owned private investment firm founded in 2015. Our team has over 25 years of investment experience conducting over 50 transactions across the globe. In partnership with family offices, we make direct private equity, real estate, and venture investments with people who share our commitment to excellence, integrity, faith, family, and community. For more information, visit www.weatherfordcapital.com.

About PayIt
PayIt is a is simplifying doing business with state, local, and federal government through its award-winning digital government and payment platform. Along with our government partners, we are transforming the customer experience and making government more modern, convenient, and mobile. For more information, visit www.payitgov.com.

Weatherford Partners Announces a $40 Million Equity Investment In Safe Harbor Marinas-the World's Largest Marina Owner and Operator

TAMPA, January 23, 2017 – Weatherford Partners announced today its participation in the acquisition by Safe Harbor Marinas of the Brewer Yacht Yard Group. The transaction adds 25 marinas to the company's portfolio, which makes Safe Harbor the largest owner and operator of marinas in the world with 63 properties in 17 states housing more than 30,000 boats.

Weatherford Partners, together with American Infrastructure Funds and Guggenheim Partners, provided funding for the Brewer acquisition. With its initial $40 million equity investment, Weatherford Partners will be a significant shareholder.

"We are excited to invest in Safe Harbor and work alongside their world-class management team and staff," said Will Weatherford, Managing Partner of Weatherford Partners. "This is a very unique business platform and one which we believe has extraordinary growth potential."

"Weatherford Partners is well positioned to assist Safe Harbor in identifying new opportunities throughout the country, and especially in Florida," said Sam Weatherford, a Safe Harbor board member and Partner of Weatherford Partners.

Macfarlane Ferguson & McMullen and Pereboom Law are serving as legal advisors to Weatherford Partners.

About Weatherford Partners
Weatherford Partners is a global private equity firm based in Tampa, Florida. The firm partners with owners and management teams of high integrity to build great businesses through the provision of capital and advisory services. Weatherford Partners actively engages its portfolio companies in innovative and unique ways to create significant and lasting value. Will, Sam, and Drew Weatherford are the founding members of Weatherford Partners. For more information, visit www.weatherfordpartners.com.

About Safe Harbor Marinas
Safe Harbor Marinas is the largest owner and operator of marinas in the United States. Based in Dallas, the company is dedicated to providing the highest standards of excellence in customer service across its portfolio of inland and coastal properties. For more information, visit www.shmarinas.com.

About Brewer Yacht Yard Group 
Founded in 1954, Brewer Yacht Yard Group is the parent company of 25 Brewer marinas between Maryland and Massachusetts. In addition to its multiple locations, Brewer offers special benefits to its customers including free overnight stays and fuel discounts. For more information, visit www.byy.com.

About American Infrastructure Funds
American Infrastructure Funds is a leading private investment firm bringing innovative investment capital and operating insights to support the growth of infrastructure and real asset-based businesses. For more information, visit www.aimlp.com.

About Guggenheim Partners
Guggenheim Partners is a global investment and advisory firm. Across its three primary businesses of investment management, investment banking, and insurance services, Guggenheim has a track record of delivering results through innovative solutions. For more information, visit www.guggenheimpartners.com.

Press ReleaseLukas Naugle