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Growth capital will propel CSDC’s mission to modernize local, state, and federal governments; Leverages operational experience from BuildGroup partners to accelerate growth
Toronto, ON, January 31st – BuildGroup, an operator-led company that invests in high-growth technology firms, today announced a $30 million investment in CSDC systems, a leading supplier of software to local, state, and federal governments. The investment will fund activities supporting customer growth, product expansion, support services and market leadership, and will help CSDC rapidly deploy their core technology to power the world’s best-run governments.
CSDC’s mission is to bring the advantages of the cloud to government agencies with the most flexible platform on the market, backed by a modern user experience and responsive support delivery. With more than 20 years of experience in developing their AMANDA platform, the company helps governments and their agencies operate more efficiently and effectively.
“Governments are increasingly looking for modern technology solutions that can automate their business processes, increasing the efficiency of their work to save time and money. Also, they want to consolidate this functionality on a single platform if possible,” said Dan Mishra, founder of CSDC Systems.
“Governments are also increasingly responding to citizens' desire to interact and transact with their government online. Like us, BuildGroup’s founders are experienced operators who believe that the modernization of government IT is vital for effective governance, and recognize the enormous opportunity as the market rapidly makes this transition. Their investment and expertise will support CSDC’s continued growth and our long-term vision, and will have a transformative impact on our success.”
BuildGroup will serve in a supportive capacity to the company with a specific focus on growth and long-term strategic direction. The CSDC management team will have full responsibility for the day-to-day management of the company and will continue to add additional staff in all areas of the business to support the company’s mission and growth.
“We see a compelling opportunity to use modern cloud technology to radically change how governments are run and believe that CSDC is in a position to lead this shift long term,” says Lanham Napier, BuildGroup co-founder and former CEO of Rackspace.
“We’re excited to help CSDC realize this vision, bringing the strong operational background of our partners to increase growth and profits. With CSDC’s established experience and innovation within the market, we believe the company can lead the needed technological transformation to modernize governments.”
Comerica Bank’s Technology & Life Sciences Division, one of the nation’s leading technology bank practices, served as BuildGroup’s source of senior financing for the CSDC transaction. Cooley, LLP advised on the transaction as well.
For more information on BuildGroup, please visit: http://www.buildgroup.com
CSDC is a leading provider of integrated, powerful and flexible software to automate the business processes of government agencies at all levels. CSDC's core technology, AMANDA, serves as a Secure Near-Zero Code Framework, designed to improve operational efficiency and deliver citizen-centric services speedily and effectively. It is an Enterprise Platform that enables a wide range of content-based government compliance and case management services, including Permitting, Planning, Inspections, Licensing, Code Enforcement, Fire Prevention, Public Works, Environmental Health and Health and Safety, Court Management, Freedom of Information Requests, and Grants.
For more information, visit: http://www.csdcsystems.com
BuildGroup is an operator-led company that invests in high-growth technology firms. Based in Austin, Texas, BuildGroup was founded by an experienced group of entrepreneurs who want to help build emerging technology companies into category leaders. It is organized as a permanent company possessing a long-term horizon and intends to build portfolio investments for 15 to 20years. BuildGroup believes business greatness is found in creating products that customers love, nurturing mission-driven corporate cultures that bring out the best in people, delivering stellar financial outcomes to reinvest in products and culture, and compounding these forces for the long haul. The company focuses on a limited number of investments and has made two previous investments in Fiix , based in Toronto, and Continuum Analytics, based in Austin.
Contact BuildGroup at http://www.buildgroup.com