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
Gallery: Sprint Accelerator Demo Day
The Sprint Mobile Health Accelerator held its Demo Day event Thursday at the Kauffman Center for the Performing Arts. Ten startups that specialize in mobile health technology graduated from the Techstars-led accelerator, which conducts a three-month, mentor-led program designed to quickly advance businesses. Check out photos from the event by scrolling below.
UMKC, Digital Sandbox KC partnership to maximize resources, create jobs
The University of Missouri-Kansas City’s E-Scholars program has partnered with a business incubator program to provide resources and capital to student entrepreneurs. The program has partnered with Digital Sandbox KC to offer inroads to students to further develop their business projects with additional funding. “The UMKC Entrepreneurship Scholars program has a very specific goal –…
KC smart city ‘an invitation’ to innovators, entrepreneurs
The City of Kansas City, Mo., has signed an agreement with Sprint and Cisco to create the largest smart city in North America in the City of Fountains. Sprint will be building a network of connectivity worth up to $7 million dollars while Cisco will be providing smart city infrastructure worth upwards of $5 million. The…