About i3 Verticals

i3 Verticals, Inc. builds, acquires, and grows software solutions in strategic vertical markets. The company's broad array of specialized solutions meet its customers' specific enterprise needs, which leads to long-term partnerships. Its payments platform seamlessly integrates into its solutions, unlocking additional value. The company focuses on strategic vertical markets where it can build lasting customer relationships. Its primary markets are underserved, fragmented, large, and growing. The company's primary strategic vertical markets include: Public Sector: The company has products and solutions that create an efficient flow of information throughout a variety of public sector entities, including states and local governments. The company's solutions help its clients provide more responsive and efficient services to their citizens. The company has products that enable upper and lower court case management, collections, finance and accounting, motor vehicle registration and license plate inventory, property tax management, utility billing, professional licensing, document workflow, and law enforcement software. The company delivers integrated payments solutions throughout many of these products and these solutions allow its clients to efficiently process court, tax, registration, utility, and other payments. The company also assists public schools, from primary through university, in completing payment processing functions, such as accepting payments for school lunches (online or at school) and school activities. Healthcare: The company provides entities in the healthcare market with software platforms that drive process efficiency and ensure compliance. These include electronic healthcare records (EHR) and revenue cycle management solutions, often paired together. The company offers its software as a service and often bundle it with professional services that specialize in outsourced revenue cycle management, including coding. It also provides insurance adjudication, patient engagement platforms, billing, scheduling and integrated payments solutions. The company's payment solutions in the healthcare market seamlessly integrate into its own proprietary software, as well as that of its distribution partners, consisting of independent software vendors (ISVs). It also provides workflow software and associated professional services to medical insurance payers. The company's customers include multiple large academic medical institutions, multiple large payer networks, billing organizations and individual physician practices. The company generates revenue from software licenses and subscriptions, ongoing support, and other software-related solutions. It also generates revenue from volume-based fees generated by payment processing services provided to customers throughout North America. The company's software and integrated payment solutions coupled with its distribution network derive significant scale from operating efficiencies. Strategy A core component of the company's growth strategy includes a disciplined approach to acquisitions of companies and technology, evidenced by 48 acquisitions. Segments The company operates through two segments, Software and Services and Merchant Services. Software and Services The company's Software and Services segment delivers vertical market software solutions to customers across all of its strategic vertical markets. These solutions often include embedded payments or other recurring services. Merchant Services The company's Merchant Services segment provides comprehensive payment solutions to businesses and organizations. Its Merchant Services segment includes third-party integrated payment solutions, as well as traditional merchant processing services across its strategic vertical markets. Products and Solutions The company delivers a comprehensive array of vertical market software solutions and integrated payment technology to its customers and distribution partners. Its products and solutions are strategically aligned to support new customer growth and promote customer retention. Some solutions are broadly applicable across many different types of entities and departments, while others are specific to certain markets. Public Sector The company's Public Sector vertical includes more than 100 unique software products designed to make governments run more efficiently. Payments are often embedded into these software products, providing customers with a seamless experience, as well as an additional revenue stream. The company serves customers at both the state and local level and its geographic reach covers most of the United States and some of Canada. The company's software products are designed to align with the specific needs of its customers and their communities. Solutions categories include: Judiciary & Courts: Fully integrated digital solutions offering dynamic processes to plan, coordinate, evaluate, record, and provide up to date information within court systems. Motor Vehicle: Comprehensive solutions for driver license, vehicle title and registration and motor carrier compliance for departments of transportation in the United States and Canada. Utility Billing: Complete suite of billing and back-office management software solutions and services to enhance enterprise applications, improve customer experience, and increase efficiency of utility operations. Digital Customer Engagement: Digital customer engagement platform, including web, mobile, chat, and voice options, enables intuitive self-service options for customers to manage their data and accounts. Finance and ERP: Enterprise resource planning (ERP) solutions connect the organization and its data to create a flow of information providing insight across multiple departments. School Lunches: Comprehensive solution for schools and districts, including meal account management, point of sale, menu planning, nutritional analysis, food inventory and free and reduced meal applications. Land & Records Management: Fully digital solutions to boost proficiency and maintain records to enable submission of index information, scanning of document images and secure instantaneous retrieval of information. Public Safety: Solutions for computer aided dispatch, law records management, evidence management, jail management, mobile solutions, and livescan. Licensing & Permitting: Automation for every step of the licensing application, renewal process and payment process. These include workflow and user driven customization solutions. Property, Recording and Tax: Digital solutions designed for appraisal information, tax collection management, revenue collection, and Computer Assisted Mass Appraisal. Healthcare The company's Healthcare vertical is dedicated to delivering integrated solutions across the healthcare ecosystem, catering to providers and payers, with a strong emphasis on enhancing process efficiency and ensuring compliance. The company's core offering is its versatile care delivery platform, which encompasses a range of solutions, including EHR, practice management tools, patient engagement applications, and patient payment solutions. These solutions are designed to adapt to the diverse needs of healthcare organizations, from small physician practices to large academic medical institutions and multi-location health systems. By providing flexible and scalable technology solutions, it empowers its clients to navigate the evolving landscape of healthcare. Complementing its technology platform, the company offers a comprehensive portfolio of revenue cycle management services. These services provide its clients with a full end-to-end experience, covering all aspects of their financial operations. From revenue optimization and billing to claims processing and coding, its services are designed to streamline financial processes and maximize revenue performance for healthcare organizations. Finally, its healthcare payer solutions provide payers with the tools to manage the complex healthcare industry more effectively. The company offers tailored solutions for managing compliance requirements, including Appeals & Grievances. Additionally, its Network Management platform assists payers in provider contracting, credentialing, and outreach, enabling them to expand and adapt to changing market dynamics. Payment Technology In addition to its suite of vertical market software, the company has developed a suite of payment technology solutions that serves customers across its vertical markets. Capabilities include traditional merchant processing or payment facilitator models; integration with customer business management systems, risk management; validated point-to-point encryption; and PCI-compliant security and extensive reporting tools. The company offers its customers a single point of access through its capable proprietary core platform. From there, the company offers a suite of payment and software solutions, enabling omni-channel POS, spanning brick and mortar locations and electronic- and mobile-commerce, including app-based payments. The company's payment technology platforms include an Application Programming Interface (API) suite that provides access to traditional merchant processing, ACH processing and payment facilitator merchant processing capabilities. The platform APIs allow access to Europay, Mastercard and Visa (EMV) devices using an implementation that shields software providers from the requirements of PCI or payment application data security standard certifications. Technology As a forward-thinking software company that excels in delivering cutting edge solutions, the company is committed to agile delivery, scalable platforms, and secure solutions. The company continuously refine and expand its software offerings to stay aligned with the latest industry and market trends. Agile Development The company's flexible approach to digital delivery is centered around agility. It prioritizes rapid development, continuous improvement, and dynamic responsiveness in its ever-changing environment. This means the company's customers receive software solutions that evolve with their needs, as well as the market, ensuring they stay ahead of the curve. The company's product management lifecycle ensures its products remain robust and flexible. Product roadmaps drive its investments and ensure its solutions remain innovative and never grow stale. Scalable Platforms The company understands that scalability is critical to meeting the growing demands of the digital landscape. Its cloud-first strategy drives solutions that are designed to expand seamlessly, empowering its systems to adapt, grow, and thrive without constraints. Remaining cloud agnostic allows it to choose best of breed solutions allowing the company to meet the needs of its customers. The company's strategic partnerships with multiple cloud providers give it capabilities beyond that of many of its competitors. Secure Solutions Cybersecurity is at the core of its digital strategy. The company employs the latest security measures to safeguard its customers' data and systems, which are designed to protect the integrity and confidentiality of their valuable information. The company rigorously adhere to data protection regulations, industry-specific compliance standards, and best practices to ensure that its customers' sensitive data is handled with the utmost care. The company's solutions are designed to meet the requirements of regulatory and legal compliance. Sales and Marketing The company's sales strategy includes both employee sales representatives and a broad network of distribution partners. The company utilizes its direct sales team, its largest channel, to sell its proprietary software and payment technology solutions directly to customers in its vertical markets. Sales teams are organized and coordinated by vertical, leading to extensive cross-selling opportunities across its broad array of solutions. Leveraging its vertically focused suite of products and services, the company is able to maximize the performance of its external distribution channels, as it continues to attract new partners. The company's external channel partners include independent software vendors (ISVs), value-added resellers (VARs) and a few select independent sales organizations (ISOs). Intellectual Property The company owns a number of registered federal service marks, including, without limitation, i3 Verticals, PaySchools and Axia. It also owns a number of domain names, including, without limitation, www.i3verticals.com. Government Regulation As an entity that provides services to educational institutions, the company is indirectly subject to the Family Educational Rights and Privacy Act (FERPA) and the privacy requirements of the Protection of Pupil Rights Amendment (PPRA). The company's business is subject to U.S. federal anti-money laundering laws and regulations, including the Bank Secrecy Act of 1970, as amended by the USA PATRIOT Act of 2001, which it refers to collectively as the BSA. The company is also subject to certain economic and trade sanctions programs that are administered by the Office of Foreign Assets Control (OFAC) that prohibit or restrict transactions to or from (or transactions dealing with) specified countries, their governments and in certain circumstances, their nationals, such as those who might be narcotics traffickers and terrorists or terrorist organizations. The company and many of its clients are subject to Section 5 of the Federal Trade Commission Act prohibiting unfair or deceptive acts or practices. Various federal and state regulatory enforcement agencies, including the Federal Trade Commission and the states attorneys general, have authority to take action against non-banks that engage in unfair or deceptive acts or practices or violate other laws, rules and regulations and to the extent the company is processing payments or providing services. Certain of the company's distribution partners are financial institutions that are directly subject to various regulations and compliance obligations issued by the Consumer Financial Protection Bureau (the CFPB), the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the National Credit Union Administration and other agencies responsible for regulating financial institutions, which includes state financial institution regulators. The company is also subject to network operating rules and guidelines promulgated by the National Automated Clearing House Association (NACHA) relating to payment transactions it processes using the ACH Network. The NACHA Operating Rules and Guidelines allocate responsibility and liabilities to the various participants in the payment network, including the company and its partner financial institutions. NACHA has focused upon data security and privacy responsibilities. The company is subject to U.S. federal and state unclaimed or abandoned property (escheat) laws which require it to remit to certain government authorities property of others. History i3 Verticals, Inc. was founded in 2012. The company was incorporated as a Delaware corporation in 2018.