Peregrine Technologies Raises $250 Million
Peregrine Technologies, based in San Francisco, has successfully raised $250 million in a Series D funding round. This round was led by Fifth Down Capital and included participation from other investors such as Godfrey Capital, Goldcrest Capital, OG Venture Partners, Sequoia Capital, and XYZ Ventures. The funding elevates the company's valuation to $6.8 billion.
Founded by Nick Noone and Ben Rudolph, Peregrine Technologies specializes in providing a real-time data management platform aimed at enhancing public safety and police operations. The platform is designed to unify information across disparate systems, enabling more secure and efficient data usage without the need to generate new data.
Expansion Plans and Market Reach
The newly acquired funds will aid Peregrine Technologies in expanding its reach across various government and enterprise markets. The company is focusing on launching new product capabilities and increasing its presence internationally, with new offices recently opened in Toronto and London.
Over the past year, Peregrine has doubled its customer base and now supports over 400 agencies and organizations across North America, serving more than 125 million people. Its platform has been instrumental in various high-profile operations, including coordinating security and logistics for events like the Super Bowl, the Grammys, and the World Series.
Use of Funds
The funding will specifically support Peregrine's expansion into federal and international markets, along with enhancing its product offerings. The company aims to continue its growth across government and public safety agencies in the U.S., Canada, and the U.K., and is also exploring commercial pilot projects in sectors such as financial services.
Real-World Impact
Peregrine's platform has proven valuable in a range of operational scenarios. For instance, in Fairfax County, Virginia, the software helped investigators identify a child abduction suspect in just 13 minutes. In Manatee County, Florida, it has been used to support hurricane response and recovery efforts. Additionally, cities from San Francisco to Atlanta have utilized the platform to improve public safety outcomes.
The company's growth and the increasing demand for its platform reflect a broader trend towards AI systems that prioritize security, governance, and accountability. With this latest funding, Peregrine Technologies is well-positioned to continue its expansion and innovation in the field of public safety data management.