Israeli smart city co Zencity raises $40m

Developer of an Israeli smart city platform for local governments Zencity TLV announced the completion of a $40 million Series C financing round led by StepStone Group, with participation from existing investors TLV Partners. This brings the company's total raised to $91 million.

The company has developed an accessible and effective solution for city, county, and agency teams seeking to expand their understanding of public opinions, bring those insights into their daily work, and connect with the communities they serve. Eight out of ten of the largest cities in the United States are among Zencity customers.

The company says the new funds will be used to enhance its AI capabilities, including new hires in engineering and data science, and in improved customer service for Zencity's local government partners around the world.

Zencity was founded in 2015 by CEO Eyal Feder-Levy and CTO Ido Ivry.

“Zencity’s mission is to build trust between local governments and the communities they serve,” said Feder Levy. “Our new partnership with StepStone will enable us to set the standard for this important mission by investing in technology, people, and most important of all – AI-powered capabilities, like these “We are launching today, putting best-in-class technology in the hands of local government leaders that will accelerate the achievement of this goal. By reducing barriers to community input, making it more accessible and using data, we will deliver results for the communities our government partners serve.”

The company recently added New York City, Dallas, LAPD and London Metropolitan Police (UK) as clients, as well as its first national government agency, the UK Department of Settlement, Housing and Communities. Today the company serves cities, counties and agencies in more than 40 US states, covering 200 million people.

Published by Globes, Israel Business News – en.globes.co.il – on June 18, 2024.

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