Mike Weiland, CEO & Co-Founder of Govly: $13 Million Raised to Power the Future of Public Sector Procurement

From Necessity to Innovation: Govly was born out of the need for software to manage internal operations at Mike's previous government contracting company, leading to a platform that now serves the industry.

The Value of Process in Government Contracting: Despite the bureaucracy, Mike highlights the dependability of government contracts due to their strict rules and regulations.

Misconceptions About Government Contracting: Many believe that all government opportunities are available on public forums like Sam.gov, but Mike explains the importance of private contract vehicles in the process.

Marketing Approach: Initially, Govly's growth was driven by founder-led sales and word-of-mouth, with a significant marketing push only beginning recently.

Challenges in Fundraising: Timing and market conditions play crucial roles in successful fundraising. Maintaining relationships with top VC firms is essential.

Growth and Stickiness: Govly's platform has become business-critical for its users, leading to significant growth, from $360,000 ARR in 2022 to an expected $4 million by the end of this year.