Venture Capital News: Mark43 Grabs $38M Series C Round
NEW YORK, NY, Mark43, the leading cloud-based public safety platform, today announced $38M in Series C funding led by General Catalyst and Jim Breyer of Breyer Capital.
The round will bring Mark43's total funding to $77.8 million, with returning investments from Spark Capital, Ashton Kutcher's Sound Ventures, Bezos Expeditions, Goldman Sachs, General David Petraeus, Sheel Tyle's Amplo, Innovation Endeavors, Govtech Fund, SV Angel, and others. The round of funding follows a stellar 2017 for Mark43, with 550% client growth, exciting new executive hires from Google, and the opening of new offices in Los Angeles, California and Charlotte, North Carolina. Mark43 plans to use the funding to accelerate software development, sales, and deployments, and further its mission of empowering public safety with a unified platform to share and analyze critical data in the cloud.
Founded in 2012, Mark43 has already deployed its core software applications, Mark43 Records Management System and Mark43 Computer Aided Dispatch, to thirteen public safety agencies across the U.S., with over thirty more expected to launch this year. Mark43's user-friendly technology is welcomed by departments of all sizes -- from Richmond Police Department in California to Seattle Police Department in Washington State -- for reducing report writing times and allowing officers to spend significantly more time on the street. As public safety agencies also look to improve criminal justice information sharing across jurisdictions, Mark43's cloud-based platform provides secure, reliable, and cost-effective hosting for multi-agency environments.
The company -- now over 150 employees strong -- is also thrilled to announce the hires of Chief Growth Officer David Mihalchik and Director of Global Sales Manosh Chakravorty. Mihalchik and Chakravorty join Mark43 with nearly two decades experience at Google Cloud for Government between them, where they grew Google Apps (now GSuite) adoption in U.S. government agencies from zero to nearly one million users. Both executives will work closely with CEO & Co-Founder Scott Crouch to unlock new opportunities across the public safety market by strategically fostering new relationships and championing Mark43's vision for the future of public safety technology.
"After years on the ground with officers, reimagining and perfecting the fundamentals of public safety software, it's really gratifying to have the kind of year we had in 2017," said Scott Crouch, CEO & Co-Founder of Mark43. "This latest round of funding, coupled with new growth hires, perfectly positions Mark43 to capitalize on the momentum we were able to generate following our Series B and bring new products like digital evidence management to market."
"From the beginning, Mark43 has been laser-focused on reinventing a market plagued by legacy software and solving the most pressing issues that our public safety agencies face," said Larry Bohn, repeat investor at General Catalyst. "Since then, we've seen Mark43 execute on that vision with incredible precision. They are developing solutions that have the potential to improve department technology operations nationwide. We're honored to continue what has already been an extremely rewarding partnership."
"We're honored to support the Mark43 entrepreneurs and team, and very excited to invest," said Jim Breyer, Founder and CEO of Breyer Capital based in Menlo Park, California. "Mark43 is tackling a significant market opportunity, and as importantly, their products can make the world safer."
Mark43 is building the data engine that keeps your community safe. With the leading cloud-based public safety software platform, Mark43 makes access to reliable and actionable information a reality for first responders. Mark43 is trusted by dozens of police departments across the United States, spanning California, New Jersey, Oregon, Washington State, and the District of Columbia. For more information, visit www.mark43.com.
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