Government software service provider startup Accela recently raised USD40 million in its fourth investment funding round, according to a Venturebeat report. New York-based growth equity Bregal Sagemount had led the financing round.
Accela had provided civic engagement software services to over 500 government agencies in the US. The startup had counted the cities of New York, San Francisco and Palo Alto, California as among its many clients. The company also has clients outside the US. One of the company's core products is the Accela Automation, a software automation suite for governments to allow unification and automation of department workflow, information and data management.
Accela's position as a cloud-based platform provider would be strategic at this time with the US government now open to adopting cloud computing technologies. Accela intended to use the funding obtained in the investment round to hire more sales staff and make future acquisitions in line with the company's growth plans.
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