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PayIt Receives Investment from Insight Partners to Accelerate Digitization of Government Payments

March 28, 2019| 1 min. read

KANSAS CITY, Mo., March 28, 2019 /PRNewswire/ -- 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."

About PayIt

PayIt is simplifying doing business with state, local, and federal government through its award-winning digital government and payment platform. Along with our government partners, we are transforming the customer experience and making government more modern, convenient, and mobile. For more information on PayIt, visit www.payitgov.com.

About Insight Partners

Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight currently has over $20 billion of assets under management and has cumulatively invested in more than 300 companies worldwide. Our mission is to find, fund and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. Across our people and our portfolio, we encourage a culture around a core belief: growth equals opportunity. For more information on Insight and all its investments, visit insightpartners.com.