LOS ANGELES, Nov. 14, 2024 -- GovInvest, the pioneer of compensation analytics technology for government agencies, is celebrating a record third quarter in 2024, marked by significant new customer growth, regional expansion, and industry recognition. Over the past quarter (July-September 2024), GovInvest achieved an impressive 125% quarter-over-quarter increase driven by new client partnerships and strengthened relationships with existing customers through expanded solutions.
With its comprehensive suite of labor costing, budgeting, and compensation analytics solutions, GovInvest empowers public sector organizations to streamline operations, bridge the gap between HR and finance, and make smarter workforce decisions. By providing real-time, data-driven insights, the platform helps agencies attract top talent, optimize budgets, and improve employee satisfaction—critical advantages during today's labor crisis.
Nationwide Customer Growth
Q3 2024 client wins and expansions included new deals in California, Georgia, Ohio, Rhode Island, Iowa, Texas, and Washington. These recent additions highlight GovInvest's continued momentum in its core California market, where cities like San Bernardino, Beverly Hills, and San Marcos have deepened their use of GovInvest solutions. At the same time, the company is experiencing significant geographic growth, with new clients across diverse regions such as Georgia, Texas, and Washington, demonstrating its expanding national footprint and ability to address the labor costing and budgeting needs of government agencies nationwide.
"We're excited to see such strong customer growth this past quarter in every geographic market, particularly in the southeast and pacific northwest," said Michael Fryke, CEO of GovInvest. "This expansion underscores the trust that public sector agencies have in GovInvest's ability to deliver powerful, data-driven solutions that address their labor costing and budgeting needs. We're proud to partner with these organizations as they tackle today's workforce challenges and plan for future success."
Industry Recognition and Strategic Partnerships
GovInvest's industry recognition further solidified its leadership in the government services sector. The company was named to the 2024 Inc. 5000 list, ranking 95th in the Government Services sector. This prestigious recognition honors the fastest-growing private companies in America and highlights GovInvest's rapid growth even amid inflationary pressures and labor market challenges.
"We are deeply humbled by the opportunity to not only make the Inc. 5000 list but to have earned a position within the top 100 Government Services companies," said Michael Fryke, CEO of GovInvest. "Our success is driven by the dedication of our customers and team, who work tirelessly to provide cutting-edge solutions to help governments make smarter, data-driven workforce decisions."
In addition, GovInvest announced a strategic partnership with CPS HR Consulting, designed to deliver advanced, technology-driven solutions for compensation consulting. This collaboration further positions GovInvest as a leader in the government services sector, enhancing its value proposition for public sector agencies seeking smarter workforce strategies.
Strengthening Industry Ties
GovInvest's involvement in key industry events continued to drive its momentum in Q3 2024, including being selected as a sponsor for the PSHRA (Public Sector HR Association) Annual Conference in September. GovInvest showcased its commitment to supporting human resource and public sector professionals with ongoing education and technological innovation.
Customer Webinars Resonating with Agencies
GovInvest's client webinars also gained traction, with a particular focus on labor costing and workforce planning in the face of inflation and wage compression. The "Effective Labor Negotiations in an Era of Union Empowerment" webinar, featuring Chris Moses, Director of Human Resources for the City of Columbus, OH, provided public agencies with actionable insights into navigating today's complex labor landscape with GovInvest's tools. The session resonated with many participants, reinforcing GovInvest's position as a thought leader in the government analytics space.
"With GovInvest, we're able to show the unions exactly where we stand financially, making negotiations more transparent," Moses said. "The trust that we've built through these accurate, real-time projections has been invaluable."
Looking Ahead
As GovInvest looks ahead to continued growth, the company remains dedicated to providing the most advanced labor costing and compensation solutions for government agencies across the country. With a strong foundation of customer success and industry recognition, GovInvest is poised to drive further innovation and transformation in the public sector.
About GovInvest
Founded in 2014, GovInvest empowers over 1,000 public sector agencies nationwide to run their own labor, compensation, and benefits analysis at a fraction of the cost and time through powerful software solutions and hands-on consulting. With a commitment to transparency, efficiency, and equity, GovInvest empowers government leaders to make data-driven decisions, attract top talent, and enhance the effectiveness of their operations. To learn more, visit www.govinvest.com.
CONTACT: Christen Clegg, christen@govinvest.com
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