PE-backed Rock Solid to merge with CitySourced


Rock Solid Technologies, which is backed by Strattam Capital, has agreed to merge with CitySourced, a provider of an app that helps local governments deliver more services to residents. No financial terms were disclosed. Rock Solid CEO Rick Brown will lead the newly combined business while CitySourced CEO Jason Kiesel will join Rock Solid as a chief product officer.

PRESS RELEASE

SAN JUAN, PUERTO RICO, AUSTIN, TEXAS AND LOS ANGELES (PRWEB) APRIL 04, 2019

Rock Solid Technologies, a public sector-focused software and IT services company with headquarters in Puerto Rico and Austin, Texas, today announced it has entered into a definitive agreement to merge with CitySourced. The combined business will be led by Rock Solid CEO Rick Brown, and CitySourced CEO Jason Kiesel will join the executive team of Rock Solid as Chief Product Officer.

CitySourced provides an enterprise civic engagement platform that offers cities and counties a one-stop, native mobile app solution for their citizens. From within a single app, municipalities can deploy applications that allow everything from paying bills to reporting maintenance issues to real-time updates on election information. CitySourced also provides robust analytics and reporting to deliver actionable insights that allow local governments to better serve their citizens.

The combined company will serve more than 18 million citizens across some 150 individual local governments throughout North America. The CitySourced 311 app will be integrated into Rock Solid’s existing RESPOND© civic engagement platform, which helps manage all forms of 311 and citizen interactions, to provide a comprehensive solution to serve the needs of city, state and local governments.

“The Rock Solid Technologies vision and products are the perfect counterpart to those of CitySourced,” said Jason Kiesel, CEO of CitySourced. “Together we will be able to reach new markets in North America while delivering a truly best-of-breed product built specifically for the needs of local governments.”

All CitySourced executives and employees will remain with the combined business forming an organization of nearly 140 employees. The founder of CitySourced will retain a significant ownership stake in the combined company.

“The CitySourced solution is a great complement to the RESPOND© platform,” said Rick Brown, CEO of Rock Solid. “The combination of our companies creates a powerful suite of products and demonstrates our commitment to the market by creating the solutions to meet citizen demand.”

The merger of CitySourced comes three months after a majority equity investment by Strattam Capital in Rock Solid to accelerate growth in North America.

About Rock Solid Technologies
Founded in 1997, with offices in San Juan, Puerto Rico and Austin, Texas, Rock Solid Technologies is a public sector-focused software and IT services company that delivers a comprehensive civic engagement platform to serve the needs of city, state and local governments. For more information, please visit http://www.rocksolid.com.

About CitySourced
CitySourced helps local governments to deliver more services to residents through our mobile app platform. Our customers eliminate app sprawl, share data through integrations with leading back-office software systems, and ensure information is routed seamlessly between departments and citizens. For more information, visit http://www.citysourced.com.

About Strattam Capital
Strattam Capital is a private equity firm with an innovative and focused approach to scaling and unlocking growth at established business IT companies. Our team’s alignment and engagement practices are designed to deliver a better future for our companies. Strattam has offices in Austin and San Francisco. To learn more, please visit http://www.strattam.com.

Take your pick!

  • Buyouts delivers exclusive news and analysis about private equity deals, fundraising, top-quartile managers and more. Get your FREE trial or subscribe now.
  • VC Journal provides exclusive news and analysis about venture capital deals, fundraising, top-quartile investors and more. Get your FREE trial or subscribe now.