Madison Dearborn Partners | December 05, 2022
Madison Dearborn Partners, LLC (“MDP”), a leading private equity firm based in Chicago, today announced the formation of a partnership with industry-veterans Damon Griggs and Jon Brooks to pursue investments in the federal government technology sector. The former Dovel Technologies (“Dovel”) executives have extensive industry expertise and an impressive track-record of delivering growth, which will complement MDP’s investment experience in the federal government technology and tech-enabled services market.
“Damon and Jon bring a wealth of expertise and proven success building companies that provide valuable solutions for federal clients that will benefit MDP’s continued investment in the attractive market for government technology services, We look forward to partnering with Damon and Jon to identify businesses with significant growth potential that will benefit from the unique combination of Damon and Jon’s expertise and MDP’s deep industry knowledge and resources.”
-Matt Norton, Managing Director and Head of MDP’s Business & Government Software and Services team.
Griggs, who most recently served as Chief Executive Officer of Dovel Technologies, brings more than 20 years of experience successfully leading and growing technology services companies. Under Griggs’ tenure as CEO, he oversaw the company’s transformation into a market leader in the federal health technology sector. In less than three years, Griggs more than doubled the firm’s annual revenues to approximately $450 million by expanding tech-enabled capabilities, broadening and enhancing relationships with customers, building a world-class leadership team and promoting employee growth and development. Dovel was sold to Guidehouse, a leading global management consultancy firm, in late 2021. Prior to Dovel, Griggs held leadership positions with several technology services providers including InScope International, Inc., Alion Science and Technology, and Washington Consulting, Inc.
MDP shares Jon’s and my vision to build a new platform focused on delivering advanced technical capabilities to address the evolving demands of our federal customers, said Griggs. Jon and I are grateful for the opportunity to join MDP in this next chapter, as we identify highly-regarded businesses that are well-positioned to compete and win in the competitive federal technology services market.
Brooks brings more than 20 years of transactional, legal and compliance experience gained at leading corporations and Am Law 100 law firms. Over the course of his career, Brooks has successfully closed transactions totaling over $7 billion, including Dovel’s sale to Guidehouse, Engility’s sale to SAIC and OSI Pharmaceutical Inc.’s sale to Astellas Pharma Inc. He most recently served as Chief Legal Officer and SVP of Corporate Development for Dovel, supporting the company’s acquisition strategy, while building a world-class legal, compliance and administration function. Prior to joining Dovel, Jon was an executive at Engility Holdings, serving as the head of mergers and acquisitions and deputy general counsel.
Brooks added: Damon and I are pleased to partner with the MDP team as we work to utilize our collective resources, expertise and deep relationships to build a leading government technology and tech-enabled services platform. MDP has established a strong industry presence and we look forward to strengthening the firm’s partnerships with innovative businesses that are defining the future of the industry.
“This partnership creates a unique opportunity to build on our track-record of successful investments in the government software and services sector, Together with Damon and Jon, we are excited to pursue additional investments that will form an industry-leading platform delivering innovative solutions to meet the needs of federal customers across key verticals.”
-Brandon Levitan, a Director on MDP’s Business & Government Software and Services team.
About Madison Dearborn Partners, LLC:
Madison Dearborn Partners, LLC (“MDP”) is a leading private equity investment firm based in Chicago. Since MDP’s formation in 1992, the firm has raised aggregate capital of over $28 billion and has completed over 150 platform investments. MDP invests across five dedicated industry verticals, including basic industries; business and government software and services; financial and transaction services; health care; and telecom, media and technology services.
Yellow.ai | November 23, 2022
With countries in the Middle East working to enable broad-scaled digital transformation, government agencies are increasingly gravitating towards the adoption of Conversational AI solutions to redefine the citizen experience. According to data released by Yellow.ai, a leading enterprise-grade Conversational AI platform, the company has served over 222K unique users for its government sector clientele in the region.
Recently mentioned in the Gartner Hype Cycle for Digital Government Services, 2022, under the chatbot category, the company works with key government departments across the Middle East. The Yellow.ai platform has recorded an exchange of over 13M messages focused on citizen delivery services in the last two quarters, exchanged between its Dynamic AI agents and end-users during over 233K sessions.
"Public sector organizations need to address numerous queries daily, and doing so manually is a time-consuming task. At the same time, citizens have a growing expectation of being able to conveniently avail government services. That's where Conversational AI can step in to improve efficiency and human productivity, streamlining the process of delivering citizen services digitally while keeping humans in the loop. We have seen a huge surge in traction from Middle Eastern government agencies , and our deployments are helping address some very unique use cases by bringing power to citizens' fingertips on channels that they actively use. With continued emphasis on digitization, we expect Conversational AI to soon become an integral pillar in delivering stellar services to citizens."
-Raghu Ravinutala, CEO & Co-founder, Yellow.ai.
For instance, Yellow.ai works with one of the largest government entities in the UAE, where over 4000 users interact with its Dynamic AI agent in a single day. The AI agent has a 99.7 percent accuracy rate, delivering a CSAT score of 4.56 out of 5. While text-based messaging channels are the preferred medium for citizen delivery services, the company is also seeing voice-based Conversational AI solutions gain momentum. The major use-cases, as observed, are for automating customer support, filing documentation related to government entities, booking services, raising complaints, making payments, and locating branches and offices, where the most traction is being witnessed on WhatsApp.
Yellow.ai is a leading enterprise-grade Conversational AI platform, enabling enterprises to unlock business potential at scale. The platform is trusted across 85+ countries by 1000+ enterprises, including Domino's, Sephora, Hyundai, Carrefour, Kuwait Food Company (Americana), Choithrams, Amouage Oman, Arabian Radio Network and MG Motors. Powered by Dynamic AI agents for enterprises, the company aims to deliver human-like interactions that boost customer satisfaction and increase employee engagement at scale, through its no-code platform. Recognised by Frost & Sullivan, Gartner, Forrester, IDC, and G2 as a leader, the company has raised more than $102M from blue-chip investors and has offices across six countries.
GOVERNMENT INSURANCE, INFRASTRUCTURE
Cartegraph | October 31, 2022
Cartegraph released findings from its inaugural “State of Infrastructure Funding and Technology” research report today. The organization partnered with the Center for Digital Government to survey hundreds of U.S. state and local government leaders on their jurisdictions’ pressing infrastructure needs and readiness to utilize federal funding. The survey findings revealed challenges in leveraging new funding sources and concerns surrounding deferred maintenance, workforce shortages and outdated technology.
Seventy-three percent of respondents indicated the most pressing need for improving the condition of their jurisdiction’s infrastructure is funding—both for maintenance and new projects. However, 63% of those surveyed reported that their community is not fully prepared to apply for and use federal funds. The most common challenges in leveraging funds for infrastructure were staffing (38%), identifying funding (33%), applying for funding (31%), out-of-date technology or equipment (25%), and identifying or prioritizing needs (24%).
Among the survey’s other key findings:
In Need of Improvement: Sixty-three percent of respondents rated their infrastructure as fair or worse. Roads (58%), broadband (35%), bridges and tunnels (34%), stormwater (34%), and buildings and facilities (34%) were identified as the top five infrastructure areas in need of improvement.
Fix It First: After funding challenges, survey respondents listed addressing their deferred maintenance backlog as their next most pressing need. Three in four respondents involved with infrastructure projects reported deferred maintenance costs as a concern.
Staffing Shortage Woes: More than one in three respondents faces staffing challenges. Finance departments are particularly under pressure, with 48% reporting staffing issues.
Behind the Times: Jurisdictions still rely on outdated technology to track and manage assets according to respondents at least somewhat involved in infrastructure projects. Forty-eight percent of those surveyed rely on spreadsheets, 34% use paper records and 12% have no system in place.
Technology Impacts Performance: Those using off-the-shelf or custom software to manage their infrastructure were 42% more likely to rate their processes and systems as good or better. Those using spreadsheets and paper records were over 2.5 times as likely to report their processes and systems as poor or worse. Further, those using off-the-shelf or custom software were 46% more likely to rate the overall condition of their infrastructure as good or better. Those using spreadsheets and paper records were 36% more likely to report the condition as poor or worse.
For a complete report of findings, respondent demographics, expert quotes and additional resources, please visit cartegraph.com/infrastructure.
Cartegraph, an OpenGov company, builds safer, more resilient and sustainable communities through better stewardship of buildings and critical infrastructure. They offer powerful, intuitive SaaS solutions that help government agencies, utilities and educational institutions manage their physical assets and associated operations. With Cartegraph software, users optimize the life of their infrastructure, deploy maintenance resources efficiently and increase productivity to drive high-performance operations.
About the Center for Digital Government:
The Center for Digital Government is a national research and advisory institute on information technology policies and best practices in state and local government. Through its diverse and dynamic programs and services, the Center provides public and private sector leaders with decision support, knowledge, and opportunities to help them effectively incorporate new technologies in the 21st century.
SES Space & Defense | December 12, 2022
SES Government Solutions (SES GS), a wholly-owned subsidiary of SES, announced today that it will begin operating under the new name SES Space & Defense effective immediately. The name change comes after combining SES Government Solutions with the recently acquired DRS Global Enterprise Solutions (DRS GES). The SES Space & Defense brand reflects the organization’s new positioning and expanded offering serving the needs of the U.S. Government customers.
Over the past four months, SES Space & Defense saw the appointment of its new leadership team, as well as the integration of capabilities that reflect the newly combined organization and differentiated value proposition. The company is focused on building, managing and supporting the most advanced satellite network solutions for the U.S. Government and Department of Defense (DoD). SES Space & Defense has been restructured to serve its customers across two integral markets - space and defense – by creating two business units, Space Initiatives and Defense Networks, to provide best-in-class satellite network solutions.
The Space Initiatives unit targets fleet-centric projects leveraging SES's global multi-orbit satellite fleet, infrastructure, and assets. The Defense Networks unit is centered on multi-operator managed services and end-to-end mission-critical communications.
SES Space & Defense’s customers will benefit from new integration capabilities with the addition of the Information & Communications Technology (ICT) Ecosystem and ICT Portal which provides a single pane glass view into network performance, as well as essential tools in cybersecurity.
“This is a major milestone for us, and more importantly for our U.S. DoD customers, In August we consolidated two best-in-class organizations focused on the U.S. Government satellite communications needs, and we remain fully committed to providing innovative world-class space solutions to our most tactical customers. With SES Space & Defense as our new name, we would like our strategic vision and focus to come through brightly.”
-SES Space & Defense President and CEO David Fields.
About SES Space & Defense:
SES Space & Defense is a wholly-owned subsidiary of SES, the leader in global content connectivity solutions, and is exclusively focused on building, managing, and supporting the most advanced satellite network solutions for the U.S. Government. SES Space & Defense leverages a proven multi-operator network integration and management capability, an extensive global terrestrial network, as well as access to SES’s multi-orbit satellite fleet. It also offers U.S. Department of Defense customers the essential tools in cybersecurity for mission-critical operations, coupled with a proven track record in governance and compliance. SES Space & Defense operates under a proxy board, enabling it to support classified projects, and it has been present in the U.S. Government satcom market for over four decades.
SES has a bold vision to deliver amazing experiences everywhere on earth by distributing the highest quality video content and providing seamless connectivity around the world. As the leader in global content connectivity solutions, SES operates the world’s only multi-orbit constellation of satellites with the unique combination of global coverage and high performance, including the commercially-proven, low-latency Medium Earth Orbit O3b system. By leveraging a vast and intelligent, cloud-enabled network, SES is able to deliver high-quality connectivity solutions anywhere on land, at sea or in the air, and is a trusted partner to the world’s leading telecommunications companies, mobile network operators, governments, connectivity and cloud service providers, broadcasters, video platform operators and content owners. SES’s video network carries ~8,000 channels and has an unparalleled reach of 366 million households, delivering managed media services for both linear and non-linear content.