Law enforcement startup Peregrine Technologies locked up a $190 million funding round led by Sequoia Capital, minting the San Francisco-based firm as a new unicorn at a $2.5 billion valuation.
The 7-year-old startup develops data analytics software that allows state and local law enforcement agencies to put together unstructured and disconnected data in order to help understand it better and make decisions. The company’s platform was just used last month in New Orleans at Super Bowl LIX by safety officials.
Goldcrest Capital, Friends & Family Capital, Fifth Down Capital, OG Venture Partners and Godfrey Capital also participated in the round.
“Peregrine is committed to delivering the best software and the most capable engineering talent into the public safety domain,” said co-founder and CEO Nick Noone in a release. “This significant investment led by Sequoia Capital will unlock even greater development of cutting-edge technologies to support a diverse range of use-cases for government and commercial organizations worldwide.”
Law enforcement cash
While defense tech funding has exploded among VCs, law enforcement tech specifically has inched along slightly slower — with investors likely drawn to the big federal contract potential of startups developing military tech more so than selling to police departments.
Peregrine’s raise is the largest by a law enforcement/public safety startup since Dataminr, an artificial intelligence platform designed for real-time event and risk detection, raised a $475 million Series F in 2021, per Crunchbase data.
Last year, law enforcement/public safety startups raised nearly $700 million.
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Illustration: Dom Guzman
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