Tel Aviv-based city management company Zencity Technologies Ltd. announced Wednesday that it has completed a $13.5 million series B funding round led by VC firm TLV Partners. Salesforce Ventures also participated in the round as a strategic partner alongside previous backers Canaan Partners Israel, Vertex Ventures, Microsoft’s venture arm M12, and i3 Equity Partners.
Founded in 2015, by CEO Eyal Feder-Levy and CTO Ido Ivry, Zencity provides municipalities and other local authorities data-based insights enabling them to make better decisions with a deeper understanding of their resident’s needs and desires. The company makes use of artificial intelligence to analyze data aggregated from resident-generated data from sources including social media, mobile applications, and city hotlines and create actionable insights for mayors, municipal department heads, and other decision-makers. The insights help the local authorities better understand the wide scope of their residents’ needs.
Currently, Zencity is nearly exclusively active in Israel and the U.S. and the goal of the financing round is to extend its activity to other regions of the world. According to the company’s figures, it has clients in more than 150 cities, across four countries, including in 28 U.S. states. Over the past year, the company has signed agreements with key customers including the municipalities of Los Angeles, Chicago, and Houston (the second, third and fourth-largest cities in the U.S.), as well as many other major urban centers including Pittsburgh, Austin, and New Orleans among others.
South Africa Today