Cox-backed OpenGov to Buy Government Software Maker Cartegraph

Startup OpenGov is acquiring Cartegraph Systems LLC, a software provider for public agencies, in a deal that could benefit from the efforts of local governments to modernize their technology.

The combined company has a valuation of about $1.25 billion, according to people familiar with the matter who asked not to be identified because the information was private.

OpenGov, which gives cities tools to manage budgets and resources, was valued at $750 million in 2021, according to data provider Pitchbook.

The acquisition signals a growing interest in cities upgrading their systems. There’s also an influx of capital rushing into ...