Bregal Sagemount leads $40m Series D round for Accela


computer code softwareGrowth capital investor Bregal Sagemount has led a $40m Series D round for Accela, which provides civic engagement software to government agencies.

Accela said that the interest from outside investors “highlights both the value of the Civic Cloud for government efficacy and the need for two-way communication between government agencies and the citizens and businesses they serve.”

The company currently has more than 500 customers in the US, Australia, Abu Dhabi.

Bregal Sagemount partner Daniel Kim said, “Today’s successful funding round supports the momentum the company is experiencing and reflects its market position as a leader in civic solutions for government.

“With this additional capital, we believe the company can grow even faster and be the natural choice for all government agencies.”

Last month Bregal backed e-commerce payment services provider Network Merchants.

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