AI startup Zencity secured $13.5 million in funding round led by TLV Partners

Zencity, a Tel-Aviv based provider of AI-based insights for the local governments, has now secured $13.5 million in the funding round.

Zencity is founded by the Eyal Feder-Levy. It uses advanced AI to provide the local government agencies with actionable insights about their communities' needs and priorities based on discourse in the digital channels.

The platform collects the millions of resident generated data points from a multitude of sources and using AI algorithms, transforms this mass of unstructured data into real-time and ongoing insights for the local government leaders.

Eyal Feder-Levy, Zencity CEO, said, "We are proud to be able to help the heroic women and men of local government at a time when resident feedback is incredibly valuable and are looking forward to continuing in these efforts thanks to our incredible partners. Now more than ever, this investment is further proof of local governments' acute need for real-time resident feedback. The ability to provide municipal leaders with actionable data improves the efficiency and effectiveness of their work."

Eitan Bek, a Managing Partner at TLV Partners, said, "We see great value in the unique approach taken by Zencity and are excited to lead this funding round. This is our first investment in a government focused company, and we see the amazing potential in supporting this sector's needs. It is usually a "tough" market to penetrate, let alone scale in, and we were inspired by what Eyal, Ido, and their government-obsessed team has been able to achieve."

The round was backed by the TLV Partners and joined by the strategic investor, Salesforce Ventures, with participation from the existing investors – Vertex Ventures, i3 Equity Partners, Canaan Partners, and M12 – Microsft Venture Fund.

The company, as of now, has plans to use the new funds to expand its product reach to serve state and local government agencies. The company also plans to build out new strategic partnerships and further expand its market presence.

PC: Pablo, Pixabay