Company Overview

i3 Verticals, Inc. is a U.S.-based payments and software company that provides integrated solutions to specialized vertical markets. The company operates at the intersection of payment processing, software platforms, and technology-enabled services, primarily serving organizations that require tailored, compliance-oriented solutions rather than generic merchant services. i3 Verticals is publicly traded on the Nasdaq under the ticker IIIV.

The company’s core business model centers on combining proprietary software with embedded payment processing to create recurring revenue streams. Its primary customer segments include public sector entities, K–12 education institutions, and other highly regulated or mission-critical environments. i3 Verticals positions itself as a vertical-focused provider with deep domain expertise, emphasizing long-term customer relationships, high switching costs, and stable transaction-based revenue. The company was founded in 2012 and grew rapidly through acquisitions and organic expansion, evolving from a payments-focused provider into a software-centric platform company.

Business Operations

i3 Verticals generates revenue through a combination of payment processing fees, software subscriptions, and related technology services. As of the most recent publicly available filings, the company primarily operates through two reportable business segments: Public Sector and Education. These segments deliver vertically integrated solutions that include billing, compliance, workflow automation, and secure payment acceptance.

Operations are predominantly domestic, with the vast majority of revenue generated in the United States. The company controls proprietary software platforms tailored to specific use cases such as court payments, utility billing, school administration, and campus payments. i3 Verticals has historically expanded through acquisitions of niche software providers, integrating them into its broader payments ecosystem. Certain legacy operations and prior segments, including healthcare-related businesses, have been divested; specific details regarding the current scope of all former business lines are partially unclear based on publicly available sources.

Strategic Position & Investments

i3 Verticals’ strategy focuses on deepening penetration within existing verticals while expanding software functionality to increase average revenue per customer. Growth initiatives emphasize cross-selling payments into software customer bases, increasing transaction volumes, and enhancing recurring software revenue. The company has historically pursued a disciplined acquisition strategy, targeting founder-led vertical software businesses that can benefit from embedded payments.

Notable past acquisitions have included specialized public sector and education software providers, though the company has also exited certain non-core businesses to sharpen its strategic focus. i3 Verticals continues to invest in platform modernization, security, and compliance capabilities, particularly for government and education clients. Where specific investment amounts or future acquisition targets are concerned, data is inconclusive based on available public sources.

Geographic Footprint

i3 Verticals is headquartered in Tennessee, United States, and conducts the majority of its operations across North America, with an overwhelming concentration in the U.S. market. Its customers include local and state government agencies, school districts, and educational institutions distributed nationwide.

The company does not report a significant operational footprint outside the United States, and international revenue has historically been immaterial. While some payment networks and technology infrastructure have global reach, i3 Verticals’ strategic and operational influence remains primarily domestic, aligned with U.S. regulatory and compliance frameworks.

Leadership & Governance

i3 Verticals was founded by Greg Daily, who has played a central role in shaping the company’s vertical-market strategy and acquisition-driven growth model. The leadership team emphasizes operational discipline, long-term customer retention, and a software-first approach to payments. The company is governed by a board that includes executive leadership and independent directors with experience in payments, software, and finance.

Key executives include:

• Greg Daily – Chairman and Chief Executive Officer
• Bryan McKeel – Chief Financial Officer
• David DeGiacomo – Chief Operating Officer
• Paul Christians – Chief Technology Officer

Leadership roles and titles are based on the most recent consolidated public disclosures; any recent changes not yet reflected in those disclosures are inconclusive based on available public sources.