i3 Verticals

What i3 Verticals does

i3 Verticals is a Nashville, Tennessee-based publicly traded software company (NASDAQ: IIIV) that delivers integrated cloud-native SaaS solutions to the US public sector through five vertical product lines: JusticeTech (courts and law enforcement), Transportation (DMV and motor carrier services), Utilities (billing and customer experience), Public Administration/ERP, and K-12 Education. The platform-plus-modules architecture bundles proprietary products such as TrueFiling (eFiling), CourtOne (case management), aiSmartBench (AI-powered judicial search), Vault (digital evidence management), ePortal (utility customer experience), and a full ERP suite with 15+ add-on toolkits, all designed to comply with government-specific regulations including GASB, IRP/IFTA, and state court rules.

The company's revenue model is anchored in SaaS subscriptions, which comprised approximately 80% of total revenue in Q2 FY2026, with Annualized Recurring Revenue of $183.5M (+11.6% YoY). Total revenue from continuing operations was $57.5M for Q2 FY2026 (+6.2% YoY), with FY2026 guidance of $221-229M. The go-to-market is enterprise field sales direct to state, county, and municipal agencies via RFPs and government procurement vehicles, supplemented by integration partners. i3 Verticals reports 5,000+ contracted customers and serves flagship accounts such as the West Virginia Supreme Court, Michigan Trial Courts (MiFILE), City of Phoenix Water Services, and Seattle Public Utilities.

The company has executed a deliberate strategic transformation. In September 2024, i3 Verticals sold its merchant services business to Payroc for approximately $438M in cash, and in May 2025 it divested its Healthcare Revenue Cycle Management business to Infinx Healthcare. Proceeds have been redeployed into the core public sector software franchise via organic product launches (Arizona regulatory licensing, Louisiana parish digitization, West Virginia CourtOne expansion), geographic expansion into Canada (Saskatchewan), and an undisclosed acquisition announced in June 2026. Leadership was refreshed post-divestiture with Geoff Smith as CFO and Clay Whitson as CSO.

Name

i3 Verticals

Legal name

i3 Verticals, LLC

Website

https://i3verticals.com

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

i3 Verticals is a Nashville-based public SaaS company (NASDAQ: IIIV) delivering integrated cloud software to US public sector agencies across five verticals: JusticeTech (courts), Transportation (DMV/motor carrier), Utilities, Public Administration/ERP, and K-12 Education, serving more than 5,000 contracted government customers.

Ownership category

akta.pro rank

Product category

Public Sector Software

NAICS

Software Publishers (51321), Custom Computer Programming Services (541511)

SIC

Services-Prepackaged Software (7372), Services-Computer Programming Services (7371)

akta.pro primary industry

Software/Application Support (SaaS, Enterprise Apps) (BPAAACAC)

Keywords

• Public sector software
• Court case management
• Government payment processing
• Utility billing software
• K-12 education payments

Headquarters

HQ city

Nashville

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Others

Revenue model

1. SaaS/Subscription Revenue: Annualized recurring revenue from software subscriptions, now comprising approximately 80% of total revenue. Revenue grew 11.6% to $183.5 million annualized recurring revenue in Q2 FY2026. SaaS revenue grew more than 24% for the fourth consecutive quarter.
2. Transaction/Payment Processing Fees: Revenue generated from payment processing transactions. Though the company sold its merchant services business to Payroc for ~$438M in September 2024, payment processing remains embedded within software solutions for courts, utilities, and education.
3. Healthcare Revenue Cycle Management: Revenue cycle management services for healthcare providers, including academic medical centers and large provider groups. This business was sold to Infinx Healthcare in May 2025.
4. Professional Services: Implementation, training, and consulting services. Management noted persistent weakness in professional services revenue as an execution challenge.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

i3 Verticals sells integrated cloud-based SaaS software to public sector agencies across five verticals: JusticeTech (electronic court filing, case management, digital evidence management), Transportation (motor vehicle title/registration, IRP/IFTA motor carrier services), Utilities (customer experience portals, billing, mobile workforce), Public Administration/ERP (fund accounting, payroll, HR, appraisal/tax, licensing), and Education (K-12 payments and nutrition under PaySchools). Approximately 80% of revenue is recurring SaaS, with embedded payment processing and professional services as secondary streams; the company serves 5,000+ contracted government and education customers across the U.S. with select Canadian deployments.

Product overview

i3 Verticals is a software company delivering integrated solutions to the Public Sector through a platform-plus-modules architecture. The company operates across five major verticals: JusticeTech (courts and law enforcement), Transportation (motor vehicle and carrier services), Utilities (billing and customer experience), Public Administration/ERP, and Education. Key products include TrueFiling (eFiling platform), i3 CourtOne (case management), aiSmartBench (AI-powered judicial bench tool), Vault (digital evidence management), ePortal (utility customer experience), and comprehensive ERP solutions with core modules (Fund Accounting, Payroll, HRMS) plus 15+ add-on toolkits. The platform serves over 5,000 contracted customers in government and public sector markets.

Differentiator

Problem solved

Functional benefit

Brands

• JusticeTech: Court and justice system software solutions including case management, eFiling (TrueFiling), document management, and revenue cycle management.
• i3 Education
• PaySchools
• TrueFiling
• CourtOne
• ePortal
• VTRS
• EZ Tag
• uVisionPlus
• i3 CourtOne
• WVPASS
• SafeEncounter
• InterOp Mobile

Products and services

• TrueFiling Web-based electronic court filing (eFiling) platform enabling attorneys, paralegals, court reporters, and self-represented filers to submit documents online 24/7 with real-time tracking and instant notifications, streamlining court workflows and eliminating paper-based processes.
• aiSmartBench AI-powered judicial bench technology enabling judges to perform real-time full-text searches of scanned case and evidence documents, view evidence from the bench, and route eSigned documents without manual intervention.
• i3 CourtOne Case Management Solution (CMS) Comprehensive cloud-hosted case management solution supporting all case types from a single platform, enabling courts to centralize data storage, migrate to cloud environments, and manage case files with top security measures.
• i3 Document Management System (DMS)

Quantifiable outcome

• SaaS revenue grew more than 24% for the fourth consecutive quarter
• +5 more outcomes

Named customers14 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability7 records

Feature18 records

Partnerships

16 partnerships are on record, tiered core, former adjacent and former core.

• Clark County, OhiocoreStrategic or Co-development Partner · 1 June 2025Clark County, Ohio (Springfield) signed on to implement TrueFiling eFiling platform — the first standalone TrueFiling implementation in Ohio, marking entry into the Ohio court market.
• Infinx Healthcareformer adjacentChannel Partner/ Reseller/ Distributor · 1 May 2025Infinx Healthcare acquired i3 Verticals' Healthcare Revenue Cycle Management Business in May 2025, expanding Infinx's market presence into academic medical centers and large provider groups. i3 Verticals noted its future lies in enterprise software for other markets.
• Payrocformer coreChannel Partner/ Reseller/ Distributor · 1 September 2024Payroc completed acquisition of i3 Verticals' merchant services business in September 2024 for approximately $438 million in cash. The combined entity processes over $115 billion in annual transaction volume across approximately 190,000 merchant customers in the US, Canada, Caribbean, UK, and EU.
• West Virginia Supreme Court of AppealscoreStrategic or Co-development PartnerMajor statewide collaboration to modernize appellate court operations with CourtOne CMS and WVPASS public access system across all 55 West Virginia counties. Partnership later expanded to include Circuit, Family, and Magistrate Courts.
• Arizona Department of Real Estate (ADRE)coreStrategic or Co-development Partneri3 Verticals was selected to deliver its Regulatory Licensing and Credentialing Software solution to modernize real estate license processing across the state of Arizona.
• Georgia Probate CourtscoreStrategic or Co-development PartnerExpanded TrueFiling solution into Georgia probate courts including Clayton County (5th largest in Georgia), as part of Georgia's preparation for mandatory eFiling statewide.
• Arkansas CourtscoreStrategic or Co-development Partneri3 Verticals expanded JusticeTech solutions across 33+ Arkansas district courts with payment processing, revenue cycle management, and defendant electronic services. Also launched payment and revenue cycle management tools specifically for Arkansas courts.
• Saskatchewan Province (Canada)coreStrategic or Co-development PartnerNew contract with Saskatchewan Province to provide Motor Carrier Services including IRP credentialing and fee apportionment, expanding i3 Verticals' transportation footprint into Canada.
• Michigan Trial CourtscoreStrategic or Co-development PartnerStatewide MiFILE e-filing platform powered by TrueFiling technology. 81 Michigan Trial Courts were live as of late 2024, with 18 additional courts going live in October.
• Louisiana ParishescoreStrategic or Co-development PartnerContinued partnership with parishes across Louisiana supporting technology upgrades including ImageFlow digital workflow systems and transition to modern digital processes for parish offices statewide.
• Seattle Public UtilitiescoreStrategic or Co-development PartnerCustomer of i3 Verticals ePortal utility solution. Ranked #1 among large water utilities in the West region in the JD Power 2024 US Water Utility Residential Customer Satisfaction Study.
• Aqua (Northeast)coreStrategic or Co-development PartnerLarge utility provider using i3 Verticals ePortal solution. Ranked #2 among large utilities in the Northeast region in the JD Power 2024 study.
• Colorado Springs UtilitycoreStrategic or Co-development PartnerMunicipal utility using i3 Verticals ePortal solution. Ranked 4th out of 15 providers in the West Midsize category in the JD Power 2024 study.
• City of Phoenix Water Services DepartmentcoreStrategic or Co-development PartnerArizona's largest municipal water provider (serving 1.7+ million customers) implemented i3 Verticals' ePortal self-service solution for bill payment, usage monitoring, and conservation tools.
• City of Opelousas, LouisianacoreStrategic or Co-development PartnerMunicipal partnership implementing i3 Verticals ERP solutions including Fund Accounting, Municipal Licensing, and Utility Billing products for municipal operations.
• Smyrna School District, DelawarecoreStrategic or Co-development PartnerNew education partnership expanding i3 Verticals' education footprint into Delaware, helping streamline district operations and enhance service for students and families.

Scale indicators9 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Tyler Technologies: Largest pure-play vertical SaaS provider for US state and local governments, with deep offerings across courts, public safety, ERP, and tax. Closest direct comparable to i3 Verticals in product breadth and customer base.
• Granicus: Government experience platform focused on digital communications, citizen engagement, and workflow automation for public agencies. Comparable to i3 in selling SaaS solutions to state and local governments.
• OpenGov: Vertical SaaS for government financial management, budgeting, procurement, and permitting. Directly overlaps with i3's Public Administration/ERP module suite and shares the same state/local buyer.
• CivicPlus: Government technology provider of websites, citizen engagement, recreation management, and HR/ERP software for local governments. Comparable to i3 in targeting municipal agencies with integrated software suites.
• GovOS: Government technology company specializing in property tax, business licensing, and revenue collection for counties and municipalities. Closely comparable to i3's appraisal, tax, and regulatory licensing modules.
• CentralSquare Technologies: Public sector software provider covering public safety, courts, finance, and utilities for cities, counties, and public safety agencies. Directly comparable to i3's JusticeTech, ERP, and utility billing offerings.

Broad incumbents

• Hyland Software: Enterprise content services and document management provider with significant government vertical exposure. Comparable to i3's Document Management System and Vault digital evidence platform, though Hyland operates across multiple industries.
• Motorola Solutions: Large incumbent provider of public safety, command-center, and court technology solutions. Overlaps with i3's JusticeTech and law enforcement products (SafeEncounter, InterOp Mobile) but offers a much broader hardware-plus-software portfolio.
• Axon Enterprise: Dominant law enforcement technology provider with body cameras, digital evidence management, and software. Comparable to i3's Vault digital evidence platform but operates at much larger scale and broader scope.
• PowerSchool: Largest K-12 education SaaS provider covering SIS, learning, and finance. Directly comparable to i3's PaySchools and i3 Education vertical, though at materially larger scale and broader product depth.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xtwitter.com/i3education_
• Facebookfacebook.com/i3EducationOfficial
• LinkedInlinkedin.com/company/3707776

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries9 records

Funding overview

Funding rounds3 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A15 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about i3 Verticals