GovPort Technologies, which runs a SaaS portal for federal contractors, has raised $2.8 million from West Coast firms PruVen Capital and Fin Capital. Last year, the Annandale, Va., startup received $2.5 million from investors, including Alexandria, Va.-based QED Investors, Humba Ventures, Singapore’s Cambrian Ventures, and NextGen Venture Partners.
Co-founded in 2022 by the trio of CEO Tonio DeSorrento, chief technology officer Jason Mitchell, and board adviser Brendon DiBella, the company was initially called GovForce.
Ex-Marine at Helm
Sorrento, a former Marine, has said that GovPort was all “about creating a new, one-stop resource to boost the effectiveness and success of the contractors who keep the American government on track.” Before GovPort, he co-founded and ran Vemo Education.
DiBella previously built a nationwide fintech lending practice at StreetShares, which was acquired by Thoma Bravo’s MeridianLink. Mitchell headed technology at three technology startups, most recently co-founding and selling PatientFinder to Definitive Healthcare.
“GovPort has built an intuitive tool that seamlessly drives compliance and other workflows across the prime/subcontractor relationship,” said Ramneek Gupta, founder and managing partner at PruVen Capital. “This system of record reduces costs and billable rates while also unlocking future opportunities.”
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Compliance and Growth Platform
GovPort has built a GovCon platform that helps government contractors navigate complex features, and additionally comply with federal cybersecurity guidelines and other regulations. The company says it not only solves immediate operational challenges but also sets up contractors for further success in a market worth an estimated $700 billion annually.
“At a time when the compliance and security burden on government contractors has become a forefront issue for GovCons and their government clients, there is a pressing need for a purpose-built solution,” QED Investors’ Matt Burton said last year. “GovForce will prevent recordkeeping and reporting from overwhelming thousands of small business GovCons as they often collaborate for their federal contracts.”
One GovPort customer, ITC Federal said it is using the company’s platform to support its “growth and help us manage a large number of partners and subcontractors across our contract portfolio. Greg Fitzgerald, the CEO of ITC Federal, is also a GovPort board member.
