CHARLOTTE, N.C. & WOODRIDGE, Ill.--(BUSINESS WIRE)--Frontier Capital ("Frontier"), a Charlotte-based growth equity firm focused exclusively on B2B software companies, today announced a significant equity investment in Chicago-based GovQA, a leading provider of government enterprise workflow software. The investment from Frontier is intended to support GovQA’s rollout of its Exchange Workflow Platform to government agencies across the country.
For the last seven years, John Dilenschneider, CEO, has grown GovQA’s Exchange Workflow Platform to handle high-volume workflow processes for almost 700 of the largest cities, counties, and state agencies. Governments use its secure SaaS-based platform to process a variety of work streams for open records, interagency, subpoena, correspondence, and other complex workflow and case management activities.
“We’re excited to leverage Frontier’s experience working with companies in the GovTech space to assist us with capitalizing on our leadership position in a growing market,” commented Dilenschneider. “We look forward to partnering with the Frontier team at this dynamic inflection point of our company.”
“Growing citizen interest has spawned an increase in open records requests under the Freedom of Information Act. As a result, governments across the country are struggling to keep up with the demand in a timely manner,” stated Greg Pengiel, Chief Technology Officer and co-founder of GovQA. “For GovQA, this led to a market opportunity for a secure exchange and workflow management platform that would allow for compliant fulfillment of public record requests. Now our solution is used by many of the largest U.S. cities, counties, and state agencies and we see a tremendous opportunity to extend our platform into other government fulfillment activities that need to exchange and manage information across multiple systems.”
“Government agencies’ management of public records requests, subpoenas, and other correspondence is antiquated,” commented Michael Ramich, Partner at Frontier. “GovQA’s exceptional growth and pioneering software solutions highlight the increased demand for government agencies to increase transparency, limit risk, ensure compliance, and improve performance. We are excited to partner with John, Greg, and the GovQA team as they seek to continue to grow GovQA’s presence as a leader in the government workflow software space.”
In addition to Ramich, Frontier Vice President Tim Bechtold will join the Board of Directors. The investment in GovQA comes from the firm's $700 million Frontier Fund V, which closed in 2017.
Additional Resources:
Frontier Blog Post: https://frontiercapital.com/blog/frontier-capital-announces-strategic-growth-partnership-with-govqa
GovQA Blog Post: https://govqa.com/index.php/frontier-capital/
About GovQA
GovQA, headquartered just outside of Chicago, is a leading provider of public records and enterprise workflow solutions for government agencies. The GovQA Exchange Workflow Platform enables cities, counties, and state agencies to securely collect and control time sensitive information within, across, and outside governments. For more information, please visit www.govqa.com.
About Frontier Capital
Frontier Capital is a Charlotte-based growth equity firm focused exclusively on B2B software companies. Founded in 1999, Frontier partners with management teams that can benefit from capital to accelerate growth, fund acquisitions or generate shareholder liquidity. The firm makes minority and majority equity investments in high-growth companies. For more information, please visit www.frontiercapital.com or follow Frontier on LinkedIn.
