Israeli AI-based analytics platform Zencity has raised $13.5 million in a funding round led by TLV Partners and joined by Salesforce Ventures. Existing investors Canaan Partners Israel, Vertex Ventures, M12 and i3 Equity Partners also participated.
The platform monitors discourse in digital channels, amassing millions of resident-generated data points. The data is then provided to local government agencies as ‘insight into their communities’.
“Now more than ever, this investment is further proof of local governments’ acute need for real-time resident feedback. The ability to provide municipal leaders with actionable data improves the efficiency and effectiveness of their work,” says CEO Eyal Feder-Levy.
Founded in 2015, the Tel Aviv-based company supports over 150 cities and counties of all sizes across four countries and 28 US states, including major cities like Los Angeles, Houston and Chicago. The startup has added “dozens” of jurisdictions since the start of the pandemic, and will use the new funding to continue on that trend.
Eitan Bek of TLV Partners commented: “This is our first investment in a government focused company, and we see the amazing potential in supporting this sector’s needs. It is usually a “tough” market to penetrate, let alone scale in, and we were inspired by what Eyal, Ido and their government-obsessed team has been able to achieve.”