GOVO Venture Partners Leads Seed Series Investment in Urban SDK
Winter Park, Florida
Winter Park, Florida - GOVO Venture Partners made its second portfolio company investment since announcing the launch of its venture fund, GOVO Fund I, in January. With the investment, GOVO is leading a Seed investment round for Jacksonville, Florida-based Urban SDK, Inc.
Urban SDK is the traffic management system-of-record for State & Local Governments. Co-Founders Justin Dennis and Drew Messer started the company in 2018 to build a data management platform for government agencies to use data to improve policy, budgeting and operational decisions. Today, the company serves clients across 17 states in public works, transportation organizations, civil engineering and law enforcement, by providing an advanced data analytics solution that converts data to actionable insights.
The Seed investment round is also supported by DeepWork Capital, Florida Opportunity Fund, and venVelo. In 2022, the company grew revenue by 145% and expects similar growth in 2023. The funds are dedicated to support the growth Urban SDK has experienced from the public sector market and the demand they are receiving from the Civil Engineering industry.
Drew Messer, Urban SDK’s CEO & Co-founder shared, “Urban SDK is honored to partner with GOVO, who has an intense focus and experience in the state, local and federal marketplace. With the expertise and network GOVO and their partners provide, we are poised to double revenue over the next 12 months and further cement our platform as the system of record for Public Works departments.”
Rob Panepinto, GOVO’s managing general partner, said of the investment, “We expect to see increased demand in the government sector for data-related solutions that enable better decisions and innovation. Urban SDK has already impressed clients with the quality of their solution and has built a management team with a solid vision for execution and growth. We are excited to work closely with the company and its leadership team, leveraging our knowledge and expertise in the government sector.”
“The US continues to lead the world in traffic deaths per capita, vehicle emissions output, and cars sold — it’s a compounding issue.” Justin Dennis, Urban SDK COO and Co-founder “Our cities do not have one platform for traffic engineers to easily access traffic diagnostics for any local road, make decisions to improve traffic safety and efficiency, and communicate with stakeholders faster. Traffic Management is a $5 Billion market opportunity and we could not be more excited to solve this problem with Govo as partners.”
GOVO Venture Partners is a Winter Park, Florida based company. GOVO Fund I is a venture fund that invests, seed round through series A, in early stage companies for which doing business with government or navigating government regulations is an important success factor.