NationGraph Raises $18M Series A to Help Businesses Predict and Win Public Sector Sales
Round led by Menlo Ventures, with participation from Perplexity's Fund, XYZ Venture Capital, Reach Capital, and angel investors
SAN FRANCISCO , Feb. 25, 2026 (GLOBE NEWSWIRE) -- NationGraph, the AI-native intelligence platform for businesses selling to the government, announced $18 million in Series A funding led by Menlo Ventures, with participation from Perplexity's Fund, XYZ Venture Capital, Reach Capital, and angel investors. The round, which closed in Q4 2025, brings the company's total funding to $22.5 million.
The challenge for businesses selling into the public sector is that there are more than 110,000 government agencies that operate on different budget and purchasing cycles. While transparency initiatives should make it easier, the data that would indicate buying signals are scattered across millions of government websites, buried in meeting minutes, budgets, strategic plans, RFPs, and other documents.
The result is a data picture that is technically public but practically inaccessible. The businesses best positioned to serve these agencies often don’t find them in time. Key needs go unmet, the wrong vendors win by default, and agencies doing critical work don’t get the best solutions.
"We started NationGraph because we saw firsthand how information asymmetry determines who wins government contracts. We bring intelligence to the businesses that serve cities, counties, states, schools and special districts, through AI-native tools that give them something they have never had: a complete picture of every account in their territory,” said Kimia Hamidi, Co-founder and CEO of NationGraph.
“NationGraph can tell you what an agency purchased in the past, who they bought it from, what they paid, what problems are surfacing in board meetings right now, what budget line items just got approved, and what's likely coming next. Now, a small team can operate with the coverage and context of a team many times its size. They walk into every conversation already knowing the agency's priorities, budget reality, and pain points. They can speak directly to how they solve that exact problem. They don't just save time. They show up differently. And when they show up differently, agencies get better outcomes too,” Hamidi explained.
NationGraph indexes data from approximately 110,000 government entities across roughly four million websites and applies AI reasoning to enable key capabilities:
Signals deliver predictive intelligence on government purchasing decisions by cross-referencing all key data sources tailored to each supplier's products and services.
Public Record Request Automation unlocks hard-to-access public records at scale. Customers define the data they need, and NationGraph handles the full request, extraction, and delivery process, pushing structured data directly into existing sales platforms and workflows.
Contacts uses AI to identify key buyer titles across departments, validate email addresses, and map results to Signals.
The Series A funding will be used to build upon and improve the NationGraph platform by continuing to bring in more data types, strengthen the Signals engine, and continue to enhance the user experience for customers.
"We're proud to lead NationGraph's Series A as they bring transparency to the broken process of government procurement. Government sales is an incredibly messy and opaque process with data locked up in countless portals, unstructured documents, and tribal knowledge,” said Croom Beatty, Partner at Menlo Ventures. “NationGraph has built an AI-native platform that creates a deep intelligence layer across millions of government records that allows anyone selling to state and local governments to discover new revenue opportunities and then execute against them. We’re excited to see Kimia and team continue to leverage their data platform to become the transaction layer for government procurement,” Beatty added.
While the private sector has benefitted from an ecosystem of data providers and AI investment, public sector data and intelligence has lagged.
"Trillions of dollars flow through state and local governments and schools and special districts every year, but the infrastructure for businesses to participate in that market hasn't changed in decades," said Eden Ding, CTO and co-founder of NationGraph. "We're building a system that lowers the barrier for any company to serve the public sector, not just the incumbents who already know where to look," Ding explained.
Hamidi previously founded Buyer, a price intelligence platform acquired by Ramp in 2021, where he was head of Savings and spent years inside procurement workflows. Ding previously worked at Citadel, where he specialized in turning large-scale data into competitive advantages.
The company raised a $4.5 million seed round led by XYZ Venture Capital in August 2024, with participation from Reach Capital and other strategic angel investors.
About NationGraph: NationGraph is making public sector data accessible and actionable for businesses selling to cities, counties, state agencies, schools, and special districts. NationGraph’s data and intelligence engine provides buying signals derived from millions of public sector sources. Founded in 2024, NationGraph is dedicated to making uncommon knowledge common, because public data should actually be public. Learn more at nationgraph.com
About Menlo Ventures: Menlo Ventures is a leading early-stage venture capital firm investing at the forefront of AI. Our portfolio includes more than 85 public companies and over 170 exits through mergers and acquisitions. Currently managing more than $7 billion in assets, we invest at every stage across consumer, enterprise, and healthcare. Our portfolio companies include Abnormal AI, Anthropic, Benchling, Carta, Chime, Harness, Poshmark, Recursion, Roku, Siri, Neon, and Uber. We strive to have a positive impact on everything we do. When we’re in, we’re ALL IN, and we are ALL IN on AI.
Steph Beer +12024891568 stephanie@nationgraph.com
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