A press release stated:
NEOGOV, a market leader in public sector human capital management and policy management software, today announced a significant investment from The Carlyle Group (CG), a global investment firm, and existing investor Warburg Pincus.
In addition to expansion into new markets, NEOGOV will continue to serve as a platform for meaningful M&A in the broader government technology landscape.
A Carlyle managing director said in the release:
"We are excited to partner with Warburg Pincus, Shane, and the rest of the NEOGOV team to leverage Carlyle's deep expertise in government and technology investing and support the Company's next phase of growth."
Carlyle cut its teeth with government security clearance firm USIS, which was later renamed Altegrity.
NEOGOV is a leader in human capital management and policy management software. The Carlyle Group's co-founders have long been recognized as policy making billionaires. They'll now have a stake in government policy management for the policies they've made and continue to develop. That sounds like a sweet deal.
The greed and leverage boys shared their excitement about partnering with NEOGOV CEO Shane Evangelist. Executives and PEU investors spend little to reward employees, keeping the spoils for themselves. How will NEOGOV continue to skew the rewards away from the people doing the work? My guess is NEOGOV won't measure the spoils siphoned away by sponsors.