PayIt announces $100M+ funding round from single investor
March 28, 2019 | Austin Barnes
Simplifying government services through tech just got easier for Kansas City-based startup PayIt. All thanks to a funding round of more than $100 million, the company announced Thursday.
UPDATED: ‘Transformative’ $100M+ investment for PayIt means KC GovTech startup will boost hiring
PayIt — named one of Startland’s 10 Kansas City Startups to Watch in 2018 — received the funding from a single investor, New York City-based, Insight Partners, Techcrunch reported.
The startup — which had previously raised $11 million — will use the money to expand its services into various government sectors and international markets, the digital tech magazine said.
Specializing in govtech/fintech applications that better connect government to its constituents, PayIt made news in 2018 thanks to major partnerships with the State of Kansas and the Unified Government of Kansas City, Kansas. But the biggest boast comes in terms of the startup’s headcount, PayIt CEO and co-founder John Thomson said.
Click here to read more about how PayIt is helping Kansas drivers skip the line at the DMV.
The company grew to 55 employees in 2018 from just under 30, Thomson detailed.
Startland will have more on this story as it develops.
Featured Business
2019 Startups to Watch
stats here
Related Posts on Startland News
Opening KC to black entrepreneurs begins with teaching startup lingo, tearing down walls
Most entrepreneurs operate within silos, said Adrienne Haynes, noting that black-run startups face particular — though not insurmountable — challenges becoming embedded in the Kansas City startup scene. Seemingly approachable community events and coworking spaces aren’t always as open as organizers think, added Quest Moffat, founder of Project United Knowledge, joining Haynes and Donald Hawkins,…
Facing failure? Think about the bad ideas first
Entrepreneurs need to stop glamorizing the startup world, and recognize the inevitable burnout or failure involved, said Danielle Lehman. Lehman, founder of Kansas City-based consulting firm Boxer & Mutt, knows about failure, she told a crowd Friday at Global Entrepreneurship Week, noting a list of startups that she was involved in, including MySpace, that didn’t…
‘Don’t shut yourself off’: Seniorpreneurs reveal power in age, experience, savings
Figure out what you love to do and monetize it, Ann O’Meara told a room of entrepreneurs looking for advice on starting their second act after retirement. Seniorpreneurs — entrepreneurs over the age of 50 — are working to turn their lifelong hobbies into cash flow, O’Meara, CEO of Fantastic 55, revealed during a Global…
Bardavon bid to revolutionize workers’ compensation just got a $15 million boost
Timing is everything, said Matt Condon, announcing this week $15 million in new financing to help scale his Overland Park-based company’s reach into markets from coast to coast. “Our national expansion is coming at a time when employers across the country are recognizing that they must play a lead role in the transformation of health…