OpenGov, which provides financial transparency solutions for local governments, has closed a $25 million funding round. Existing investors Formation 8 Partners, Andreessen Horowitz, Thrive Capital and AITV all participated, as did new backers Glynn Capital, Sound Ventures and Intuit founder Scott Cook. The company also announced that Marc Andreessen will join its board of directors. “Software is eating the business of governing,” Andreessen said, “and OpenGov is changing the future of government, giving public agencies at all levels the kinds of financial tools that successful companies use to analyze and manage their business. Better data means a better run government — and that’s good for all of us. I’m thrilled to be part of this mission.”
Niantic, a real world games maker which is working on Pokemon Go, has raised $20 million in funding from The Pokemon Company Group, Google and Nintendo. The company may receive an additional $10 million based on achieving certain milestones. Pokemon Go is a smartphone game which encourages players to collect Pokemon from real world locations. “Pokémon’s strategic investment in Niantic paves the way for a social mobile experience the world has never seen before,” said Tsunekazu Ishihara, president and CEO of The Pokémon Company. “The Pokémon Company is committed to partnering with companies like Niantic that share the same spirit of community and innovation.”
Kinnek, a marketplace for small businesses to find suppliers, has raised $20 million in Series B funding. Thrive Capital led the investment, with participation coming from Matrix Partners, Sierra Ventures, Version One Ventures, Angelpad, Naval Ravikant and Benjamin Ling. “Running a small business isn’t easy,” said Kinnek CEO and co-founder, Karthik Sridharan. “4.7 million SMBs in the United States have to juggle all their business operations and purchasing has always been a big pain-point. Kinnek empowers them to find the best suppliers, quotes and information quickly and easily. What used to take days — or even weeks — now takes just a few minutes. It’s fulfilling to see how Kinnek is empowering these businesses and their owners.”
Stockpile, a company offering gift cards for stock, has raised $15 million in Series A funding. “Most people have never had an opportunity to own stock in their favorite companies because it’s too expensive and complicated to get started,” said Avi Lele, founder and CEO of Stockpile. “You can’t do anything with $25 at a traditional brokerage. Stockpile removes those barriers by using fractional shares and bringing the stock market to you.”