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Payit scores $100 million fund raise

Source: Payit

PayIt, the premier platform for state and local governments to engage their constituents digitally, announced today an investment from Insight Partners, a New York-based venture capital and private equity firm. The investment exceeded $100 million.

PayIt makes it simple, secure, and seamless for governments to accept digital payments and serve their constituents across web, desktop, and mobile. Its dynamic, cloud-based solutions are purpose-built for the public sector with modules spanning Motor Vehicle, Taxes, Utilities, and more. The new funding will allow PayIt to continue expanding its footprint and product capabilities.

"We're thrilled to partner with Insight Partners to further accelerate the value we're able to deliver to constituents and the governments that serve them," said John Thomson, founder & CEO, PayIt. "PayIt's unique digital payments platform simplifies government by making it more modern, convenient, secure, and transparent."

"As consumers, we increasingly expect world-class mobile experiences in everything we do, from booking hotel rooms to getting rides to ordering groceries," said Ryan Hinkle, Managing Director at Insight Partners. "PayIt brings this type of world-class experience to their government partners, saving time for consumers and creating more efficiency for the agencies served. We're excited to welcome the PayIt team to the Insight family and to embark on this next phase of growth together."

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