GovOS Acquired MUNIRevs | LODGINGRevs
Buyside Advisor to Kofile, the Parent Company of GovOS and an Audax Private Equity Portfolio Company
7 Mile Advisors Announces GovOS, An Audax Private Equity Portfolio Company, Has Acquired MUNIRevs | LODGINGRevs
GovOS, a company that is accelerating digital transformation for local government, announced that it has acquired MUNIRevs | LODGINGRevs, an industry-leading business tax, licensing, and compliance solution for local governments. The integration with the GovOS platform will include MUNIRevs’ automated tax collection and licensing tools, as well as its advanced short-term rental solution, designed to help local governments capture revenue and reduce risk.
7 Mile Advisors acted as the buyside advisor to Kofile, the parent company of GovOS and an Audax Private Equity portfolio company, throughout the acquisition. This transaction marks the firm’s 18th transaction this year in the Technology sector, and it’s sixth transaction with Audax Private Equity.
“With the addition of MUNIRev’s industry leading tax collection and business licensing solutions to GovOs’ client base, the combined company will be well positioned to address great demand at the state and local levels for user-friendly digital services allowing them to connect communities and bring more efficient solutions to all public sector stakeholders. We look forward to seeing continued success from GovOS,” said Kristina Sergueeva, Director at 7 Mile Advisors.
“We have built cutting-edge technology that has delivered more than $1 billion to our clients,” said Erin Neer, CEO and Founder of MUNIRevs | LODGINGRevs. “As part of the GovOS family, we not only hope to scale the value we currently deliver, but also extend the technology we’ve built into a platform that helps local governments at every phase of the digital transformation journey.”
Michael Crosno, CEO of Kofile, the GovOS parent company, echoes Neer’s sentiment, stating “Adding the MUNIRevs products continues the expansion of our strategy for GovOS, making our solution competitive as a Digital Transformation Platform.”
Headquartered in Durango, CO, MUNIRevs | LODGINGRevs was launched in 2011 to automate business revenue collection for towns, cities, and states across the U.S. To date, the company has attracted 150,000 users across 197,466 active businesses. MUNIRevs | LODGINGRevs has helped jurisdictions collect $1.55 billion in online tax payments and fees, while eliminating approximately 95 percent of addressed manual data entry tasks.
Along with helping governments and businesses keep track of licensing and permitting requirements, the new GovOS integrated solution will streamline the collection of sales and lodging taxes with a payment orchestration solution that will extend across all GovOS solutions.
7 Mile Advisors is pleased to have completed its sixth transaction with Audax Private Equity. Previous transactions include the acquisition of Yellow Brand Protection by Corsearch, the acquisition of Hello Soda by Acuant, and three acquisitions by Data Intensity. These successful transactions show the breadth of the 7 Mile team’s IT Services and Software comprehension, and their reach and connections within the ecosystem. For more information on how 7 Mile Advisors is tracking the market, or for key M&A trends, visit 7mileadvisors.com.
About 7 Mile Advisors
7 Mile Advisors provides Investment Banking & Advisory Services to the Business Services and Technology Industries globally. 7 Mile Advisors advises on M&A and private capital transactions, as well as provides market assessments and benchmarking. As a close-knit team with a long history together and a laser focus on our target markets, 7 Mile Advisors helps its clients sell companies, raise capital, grow through acquisitions, and evaluate new markets. All securities transactions are executed by 7M Securities, LLC, member FINRA / SIPC. For more information, including research on the M&A markets, visit 7mileadvisors.com.
GovOS is the leading government digital transformation platform, offering a secure and integrated suite of cloud-based solutions that enable local governments to automate and streamline operations, provide seamless access to resources and information, and deliver cutting-edge digital services to businesses, residents and agencies.
For more information, please visit GovOS.com.
MUNIRevs | LODGINGRevs
Backed by a decade of delivering the highest results to jurisdictions across the nation, MUNIRevs has become the industry standard in secure tax collection and business licensing. Having processed paperless revenue since 2011, MUNIRevs has become the trusted source for payment processing, allowing residents the ease and convenience of on-time payment while helping cities and states eliminate approximately 95% of the manual data entry tasks.