Zencity, a New York-based community engagement platform for local governments, raised $40 million in Series C funding, bringing its total raised to $91 million.
Investors
The round was led by StepStone Group, with participation from existing investors TLV Partners.
StepStone Group is a fund of funds based in New York, New York. Established in 2007, the investment firm focused on providing customized investment solutions, advisory services, and data services to its clients. The firm specializes in leveraged buyouts of privately held or publicly traded companies, as well as direct, fund of funds, secondary direct, and secondary indirect investments.
Zencity Use of Funds
The company will use the funds to advance its artificial intelligence capabilities, including key hires in engineering and data science and enhanced customer service for Zencity’s local government partners on four continents.
About Zencity
Founded in 2016, Zencity is a government technology company that provides a platform for community trust, purpose-built for government. Its tools leverage AI to gather and analyze community input. By putting comprehensive community input tools, sophisticated analytics, and expert support at their fingertips, Zencity empowers government and public safety leaders with the data to make more informed decisions that earn residents’ trust. More than 300 government agencies use Zencity every day, from Los Angeles, Chicago, and Harris County, TX, to Greensboro, NC, Ft. Lauderdale, FL, and Colorado Springs, CO. Zencity is headquartered in New York City and Tel Aviv.
Funding Details
Company: Zencity Technologies Ltd.
Raised: $40.0M
Round: Series C
Funding Month: June 2024
Lead Investor: StepStone Group
Additional Investors: TLV Partners
Company Website: https://zencity.io/
Software Category: Community Engagement
Source: https://www.businesswire.com/news/home/20240618128164/en/