SAN FRANCISCO, May 01, 2024 (GLOBE NEWSWIRE) -- Peregrine, a data integration platform that allows state and local government agencies to protect and serve their communities, announced a $30 million Series B funding round led by Friends & Family Capital and Fifth Down Capital with participation by existing investors Goldcrest Capital, Craft Ventures, Godfrey Capital, and other committed partners.
Peregrine enables leadership teams and personnel to make better split-second decisions in the highest-stakes circumstances. The applications of Peregrine’s technology are as varied as the priorities and challenges that face its customers.
The technology is deployed to solve unique citywide, regional, or statewide priorities and challenges. Local public safety agencies use Peregrine to disrupt criminal activity and better engage with their communities on crime prevention. Major cities and counties use the technology to reduce gun crimes, advance fairness in the criminal justice system, and improve emergency response efforts. State and regional agencies deploy the technology to handle high-scale problems like getting fentanyl off the streets, preventing human trafficking, and facilitating interagency data sharing to address the drivers of violent crime. Customers continue to use the platform in new ways every day.
Major Woolfolk, of the Atlanta Police Department, oversees officers in charge of reducing violent crimes, including aggravated assaults, carjackings, and robberies. He says, “Peregrine has been integral to reducing violent crime, helping us connect and leverage the data we have to achieve our ‘gangs, drugs, and guns’ mission.”
A coordinated effort by the Atlanta Police Department last year resulted in a 21% reduction in all city crime. Woolfolk continued, “Good technology makes researching and triaging more simple and more effective. We're a data-driven department, and we emphasize precision. Tools like Peregrine support our mission.”
The new financing will fuel Peregrine’s continued growth, transforming how critical institutions within the public safety and criminal justice ecosystems – along with entire cities and counties – use data to improve outcomes and provide better services for the people they serve. The funding will also allow Peregrine to accelerate its hiring to more than double headcount in 2024.
“Peregrine builds technology to solve state, regional, and local government agencies’ hardest problems faster and more effectively. Importantly, we enable stronger communities while protecting the privacy and civil liberties of customer and citizen data,” said Nick Noone, CEO and co-founder of Peregrine. “We deploy and provide value in days or weeks, not months or years, at a price point our customers can afford. Technology platforms that can fundamentally change the way organizations make decisions are no longer reserved for the biggest public and private institutions with the largest budgets.”
Peregrine connects structured and unstructured data across disparate sources to surface insights for some of the country’s most sophisticated government agencies. The platform enables search, investigation, management of operations, and secure collaboration in one place, enabling personnel to easily accomplish tasks that were once impractical or labor-intensive. The seamless integration of existing data of any type or scale empowers people, and entire organizations, to ask questions and get reliable answers in one place, in near real-time.
“Since our initial investment in their Seed Round, the mission focus of the team has enabled Peregrine to build an incredible software product and materially strengthen communities,” said Colin Anderson, Founding Partner at Friends & Family Capital. “We back entrepreneurs that transform big markets. Peregrine embodies this philosophy through its deep commitment to serve public safety agencies at the local, state, and national levels and beyond.”
The company’s customers currently serve and protect more than 25 million people across the country.
About Peregrine
Founded in 2018 and headquartered in San Francisco, Peregrine helps critical government and commercial institutions solve their most urgent problems by transforming how they interact with their data. To learn more, visit www.peregrine.io.
About Friends & Family Capital
Friends & Family Capital is a venture capital firm that backs entrepreneurs that transform big markets. The firm’s founding partners helped scale Palantir to $20 Billion (CFO from 2011 to 2017) and jointly backed over 20 Unicorn startups. Friends & Family Capital invests in business models that produce long-term and defensible compounding growth and cash flow. Core investments include Airtable, Anduril, Facebook, Figure, Flexport, Gecko, Gusto, Mosaic, Palantir, Peregrine, Robinhood, SpaceX, and Verkada. For more information, please see www.friendsandfamilycapital.com.
About Fifth Down Capital
Fifth Down Capital (“Fifth Down”) is an investment firm managing vehicles encompassing direct investment, fund of funds and SPV strategies. Network driven, Fifth Down’s opportunities in the technology and consumer sectors are sourced primarily through leverage of existing relationships among a curated selection of founders, fund managers and other strategic partners (LPs, executives, advisors, and service providers). Fifth Down strives to be a valuable partner and force multiplier to the venture funds and companies the firm backs. Since inception, Fifth Down has made more than 100 investments across strategies. For more information, please visit www.fifthdown.vc.
Press Contact
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