Forerunner Secures $39M for GovTech Platform
What happened
Forerunner, a company building a system of record for the built environment, has secured $39 million in funding to modernize government operations. The platform aims to help governments manage climate resilience and other complex operational challenges using AI-powered tools.
Why it matters
- The recent $39 million in funding is a combination of a $26.3 million Series B round led by Wellington Management and a previously unannounced $12.7 million Series A round led by Union Square Ventures. - Forerunner was founded in 2019 by Susanna Pattison and JT White, who currently serves as the company's CEO. - The company's AI-powered geospatial platform is designed to help governments with floodplain management, infrastructure management, code enforcement, and grant management. - Forerunner's platform is currently used by over 190 agencies across 26 states, including the California Department of Water Resources and the Florida Division of Emergency Management. - The new capital is intended to help the company expand its product capabilities, grow its team, and deepen its partnerships with government agencies at all levels. - The platform serves as a unified system of record to replace what are often fragmented and outdated legacy systems for managing the built environment, a need highlighted by the American Society of Civil Engineers (ASCE), which gives U.S. infrastructure a C-minus grade. - Key investors in the latest funding rounds include Wellington Management, Union Square Ventures, Gutter Capital, Bright Ventures, SE Ventures, and the Citi Impact Fund. - Forerunner's technology aims to streamline complex workflows, such as permitting and compliance, by using a map-driven platform that centralizes data and automates processes.
Key numbers
- Forerunner, a company building a system of record for the built environment, has secured $39 million in funding to modernize government operations.
- - The recent $39 million in funding is a combination of a $26.3 million Series B round led by Wellington Management and a previously unannounced $12.7 million Series A round led by Union Square Ventures.
- Forerunner was founded in 2019 by Susanna Pattison and JT White, who currently serves as the company's CEO.
- Forerunner's platform is currently used by over 190 agencies across 26 states, including the California Department of Water Resources and the Florida Division of Emergency Management.
What happens next
- The new capital is intended to help the company expand its product capabilities, grow its team, and deepen its partnerships with government agencies at all levels.
- Forerunner's technology aims to streamline complex workflows, such as permitting and compliance, by using a map-driven platform that centralizes data and automates processes.
- The platform aims to help governments manage climate resilience and other complex operational challenges using AI-powered tools.
Quick answers
What happened in Forerunner Secures $39M for GovTech Platform?
Forerunner, a company building a system of record for the built environment, has secured $39 million in funding to modernize government operations. The platform aims to help governments manage climate resilience and other complex operational challenges using AI-powered tools.
Why does Forerunner Secures $39M for GovTech Platform matter?
The recent $39 million in funding is a combination of a $26.3 million Series B round led by Wellington Management and a previously unannounced $12.7 million Series A round led by Union Square Ventures. Forerunner was founded in 2019 by Susanna Pattison and JT White, who currently serves as the company's CEO. The company's AI-powered geospatial platform is designed to help governments with floodplain management, infrastructure management, code enforcement, and grant management. Forerunner's platform is currently used by over 190 agencies across 26 states, including the California Department of Water Resources and the Florida Division of Emergency Management. The new capital is intended to help the company expand its product capabilities, grow its team, and deepen its partnerships with government agencies at all levels. The platform serves as a unified system of record to replace what are often fragmented and outdated legacy systems for managing the built environment, a need highlighted by the American Society of Civil Engineers (ASCE), which gives U.S. infrastructure a C-minus grade. Key investors in the latest funding rounds include Wellington Management, Union Square Ventures, Gutter Capital, Bright Ventures, SE Ventures, and the Citi Impact Fund. Forerunner's technology aims to streamline complex workflows, such as permitting and compliance, by using a map-driven platform that centralizes data and automates processes.
