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.
- 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 - The platform serves as a unified system of record to replace what are often fragmented and outdated legacy systems for managing the built environment, a need highlighted by the American Society of Civil Engineers (ASCE), which gives U.S. infrastructure a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.
