About BudgIT
BudgIT is a company based in Lagos (Nigeria) founded in 2011.. BudgIT has raised $400 thousand across 2 funding rounds from investors including Gates Foundation and Omidyar Network. BudgIT operates in a competitive market with competitors including Socrata, OpenDataSoft, MOSIP, Mastodon and Junar, among others.
- Headquarter Lagos, Nigeria
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Sectors
Government & Social Sector
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$400 K (USD)
in 2 rounds
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Latest Funding Round
$2.93 M (USD), Grant
Jan 25, 2017
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Investors
Gates Foundation
& 1 more
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Employee Count
Employee Count
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Funding Insights of BudgIT
BudgIT has successfully raised a total of $400K across 2 strategic funding rounds. The most recent funding activity was a Grant round of $2.93 million completed in January 2017. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Grant — $2.9M
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First Round
First Round
(01 Jun 2014)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan, 2017 | Amount | Grant - BudgIT | Valuation |
investors |
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| Jun, 2014 | Amount | Seed - BudgIT | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in BudgIT
BudgIT has secured backing from 2 investors, including institutional and venture fund investors. Prominent investors backing the company include Gates Foundation and Omidyar Network. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Investing in technology, digital culture, governance, and business initiatives.
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Founded Year | Domain | Location | |
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Charitable foundation investments on poverty reduction and healthcare
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by BudgIT
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - BudgIT
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Budgit Comparisons
Competitors of BudgIT
BudgIT operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Socrata, OpenDataSoft, MOSIP, Mastodon and Junar, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Government data access is democratized via cloud software.
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| domain | founded_year | HQ Location |
Cloud-based platform for civic engagement and data management is provided.
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| domain | founded_year | HQ Location |
Provides an open source platform for developing identification systems
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| domain | founded_year | HQ Location |
ETL for Big Data and open data management platform
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| domain | founded_year | HQ Location |
Cloud based open data platform
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Budgit
Frequently Asked Questions about BudgIT
When was BudgIT founded?
BudgIT was founded in 2011 and raised its 1st funding round 3 years after it was founded.
Where is BudgIT located?
BudgIT is headquartered in Lagos, Nigeria. It is registered at Lagos, Lagos State, Nigeria.
Is BudgIT a funded company?
BudgIT is a funded company, having raised a total of $400K across 2 funding rounds to date. The company's 1st funding round was a Seed of $400K, raised on Jun 01, 2014.
What does BudgIT do?
BudgIT was founded in 2011 in Lagos, Nigeria, within the civic technology sector. A cloud-based platform is operated to support open data publishing and civic engagement. Tools for budget management and public spending data are provided. The Tracka project tracking tool is included, enabling users to upload images of developmental projects. Operations focus on transparency in public finance across Nigeria.
Who are the top competitors of BudgIT?
BudgIT's top competitors include Socrata, MOSIP and OpenDataSoft.
Who are BudgIT's investors?
BudgIT has 2 investors. Key investors include Gates Foundation, and Omidyar Network.