Law enforcement software platform creator Mark43 announces $27 million in series B funding
Financing round led by Spark Capital and General Catalyst
NEW YORK — Mark43, developer of cloud-based records management and analysis tools for law enforcement, announced today that it has closed $27 million in Series B equity financing, led by General Catalyst and Spark Capital. This new capital will allow Mark43 to expand its team and deploy its platform with new police forces across the county.
"From massive amounts of administrative work to ineffective information-sharing, workflow issues can seriously limit law enforcement and their ability to fight crime," said Scott Crouch, Co-Founder and CEO of Mark43. "Mark43's platform vastly improves the overall information collection and management while helping detectives immediately access information and conduct investigations. Whether in the field or at their department, Mark43 saves valuable time and energy for police departments so they can optimize how they allocate valuable resources."
Mark43's revolutionary software platform, Cobalt, combines records management, with analysisand investigative tools in a seamlessly-integrated suite. The platform makes the delivery of real-time law enforcement information in the field a reality for police departments.
"Across the country, officers are spending large amounts of their shifts doing reports behind a computer rather than patrolling the streets. In Washington, D.C., the first metropolitan area to launch our system, we're giving local law enforcement back over 230,000 hours per year on the street. It's a workforce multiplier, and the investigative tools that we're building will help detectives solve crimes. Our mission is to help our first responders and to improve the safety of our communities," said Crouch.
"We're very excited to return as lead investors in Mark43," commented Alex Finkelstein, General Partner, Spark Capital and Mark43 board member. "The enormous appeal and proven success of Mark43's platform has allowed Scott and his team to create an industry-leading brand in only a few years.
"Financing was led by Spark and General Catalyst with participation from existing seed and Series A investors including General David Petraeus, Lowercase Capital, SV Angel, and the Govtech fund. New participants include Jeff Bezos, Ashton Kutcher's Sound Ventures, and Goldman Sachs.
Mark43 creates intuitive information management and analysis software for law enforcement. Leveraging innovative cloud-based software and technology, Mark43 enables police departments of all sizes to be more efficient in their reporting and provides cutting-edge analysis to aid in their investigations. For more information, visit www.mark43.com.