GovExec, an information services company for government leaders and contractors, has acquired GovTribe, a market intelligence company for government contractors.
The terms of the acquisition, which was completed with financial support from mid-market private-equity firm Growth Catalyst Partners (GCP), have not been disclosed. Peter Goldstone, chairman of GovExec, served as adviser.
The acquisition continues GovExec’s rapid business expansion to build the leading suite of decision-support services for government leaders and contractors. GovTribe is the largest business development collaboration and market intelligence tool serving the public sector to be added to GovExec’s portfolio.
GovTribe was built by former government contractors turned entrepreneurs, Nate Nash, CEO, and Jay Hariani, CTO, who left their jobs in federal contracting to start a company to build the tools that they needed in their former roles. GovTribe is a customer-centric data and collaboration platform that values transparency, ease of use, and intelligent recommendations that match user needs. GovExec and GovTribe are mission-aligned — to provide the full suite of services that government contractors need to perform their roles better and support the government and its leaders.
“Nate, Jay and the GovTribe team are some of the brightest public sector entrepreneurs out there and we believe in their vision for the company,” says GovExec CEO Tim Hartman. “In fact, our research has shown Govtribe to be one of the highest value tools for business development professionals who have used it. This is an exciting moment for GovExec as we bring one of the fastest-growing and most cutting-edge market intelligence tools into the ecosystem that we have steadily been building for the last eight months.”
GovTribe is also the rare market intelligence tool that offers a range of resources – from business development pipeline management to rich vendor profiles to industry-leading data analytics – all at affordable and transparent prices. A key innovation is its use of machine learning technologies that combine public data with individual user behaviour to produce recommended opportunities and other key market insights. By combining GovTribe’s technology with GovExec’s database of nearly three million engagers per month, this acquisition will greatly enhance customer value.
“When we started the company 10 years ago, we had a very clear belief – data and business intelligence tools should be easy to use and accessible,” says Nate Nash. “That is why we built a user-friendly business model that helps contractors be more competitive, better understand the market and more easily identify the right opportunities.. Becoming part of the GovExec family will bring more investment in our infrastructure, grow our awareness amongst its incredible customer database, and help fuel more innovation for our ever-growing community of contractors. ”
With GovExec’s investment, marketing power and deep behavioural data, GovTribe will accelerate its growth and build more products including predictive intelligence solutions for the public sector. By combining their powerful data, GovTribe and GovExec can now move into their next phase of tool development, including buyer intent for government contractors.
Across GovExec’s full suite of data solutions, contractors will now have the tools to track qualified leads, research opportunities using GovExec’s depth and breadth of data sources, and grow using the company’s enhanced CRM services and targeted performance marketing and audience engagement tools. This will enable them to find the right buyers and nurture them through the procurement process.
GovTribe will remain headquartered in Northern Virginia and Nash and Hariani will continue to build the company for the future. There will be a period of transition over the next several months as the management team at GovTribe and GovExec integrate together from an HR and infrastructure perspective.
