i3 Verticals, Inc. is a specialized technology provider that develops and delivers enterprise software solutions, primarily serving the public sector and education markets across the United States and Canada. Originally founded as an integrated payments provider, the company has strategically transformed into a vertical software business following the divestitures of its Merchant Services division in late 2024 and its Healthcare Revenue Cycle Management business in early 2025.
Today, i3 Verticals generates the vast majority of its revenue—over 80%—from its public sector segment. The company's core offerings consist of cloud-native, software-as-a-service (SaaS) platforms designed to streamline complex administrative workflows for local governments, municipalities, courts, public safety agencies, utilities, and educational institutions. Key products include government fund accounting software, utility billing systems, digital customer engagement platforms, and justice technology solutions. While the company has shifted away from traditional merchant acquiring, it continues to embed proprietary payment facilitation technology within its software, allowing clients to seamlessly accept and reconcile transactions such as taxes, utility bills, and court fees.
i3 Verticals employs a strategy of growing its recurring revenue base through both organic software sales and targeted acquisitions of niche software providers in its core verticals. By focusing on highly regulated, specialized markets where generic enterprise software often falls short, the company embeds its tools deeply into the daily operations of local governments and schools, resulting in high customer retention and stable recurring revenue streams.
