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Andreessen Horowitz backs $15m Series B for government transparency company OpenGov

19 May 2014

dollars 15_sqVenture capital heavyweight Andreessen Horowitz has led a $15m Series B financing round for governmental data analysis business OpenGov.

Andreessen general partner Balaji Srinivasan will join the OpenGov board following the deal.

Thrive Capital and Formation8 are also investors in the company, which provides software allowing people to better analyse revenue and expenses of government agencies.

OpenGov CEO Zachary Bookman said, “State and local governments in the US spend approximately $3.7tn. The federal government spends $3.5tn.

“Few people know where the money goes or even how their governments work.

“That’s a problem for democracy. Citizens need to work with their governments in relationships of trust and understanding.”

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