Total amount raised
$268.8 Million
Latest funding date
5/1/2024
Location
Mark43 has successfully raised funds through eight different rounds, with the latest being a Series E round. The company is backed by 30 investors, including notable names like Malcolm Turnbull and Empede Capital.
Mark43 offers a unified platform for public safety operations, integrating dispatchers, first responders, investigators, and community leaders with real-time data and smart analytics. Keep reading to explore the intricacies of Mark43's fundraising journey and the investors backing this innovative platform.
What Is Mark43?
Mark43 is a leader in public safety technology, offering a secure, all-in-one platform designed to save time, ensure compliance, and enhance community safety. The company serves over 300 public safety agencies worldwide, from federal to local levels.
Founded in New York, New York, Mark43 operates in multiple industries, including GovTech, Information Services, Law Enforcement, Public Safety, and Software. The company has an employee count ranging from 251 to 500.
How Much Funding Has Mark43 Raised?
- Grant
- Amount Raised: USD 75,000
- Date: May 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the core technology and validate the business model.
- Seed
- Amount Raised: USD 1,950,000
- Date: July 2013
- Lead Investors: General Catalyst, Spark Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series A
- Amount Raised: USD 10,800,000
- Date: August 2015
- Lead Investors: General Catalyst, Spark Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series B
- Amount Raised: USD 27,000,000
- Date: April 2016
- Lead Investors: General Catalyst, Spark Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and invest in customer acquisition.
- Series C
- Amount Raised: USD 38,000,000
- Date: March 2018
- Lead Investors: Breyer Capital, General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and support international expansion.
- Series D
- Amount Raised: USD 50,000,000
- Date: April 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and increase market penetration.
- Series E
- Amount Raised: USD 101,000,000
- Date: July 2021
- Lead Investors: The Spruce House Partnership, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop new products and expand internationally.
- Series E
- Amount Raised: USD 39,999,992
- Date: May 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue growth and innovation in public safety technology.
Total Amount Raised: USD 268,825,992. Current Valuation: Not publicly disclosed.
Key Investors
- The Spruce House Partnership
- Details: The Spruce House Partnership is a private investment firm known for making long-term investments in public and private companies.
- Investment Focus Areas: General private investments.
- Notable Investments: Carvana, Farfetch.
- Tiger Global Management
- Details: Tiger Global Management is a global investment firm that focuses on private and public companies in the technology sector.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in powerful, positive change that endures.
- Investment Focus Areas: Positive, enduring change across various sectors.
- Notable Investments: Not specified.
- Spark Capital
- Details: Spark Capital is a venture capital firm that invests in startups led by creative thinkers.
- Investment Focus Areas: Startups led by creative thinkers.
- Notable Investments: Not specified.
- Malcolm Turnbull
- Details: Malcolm Turnbull is the former Prime Minister of Australia, involved in various business and investment activities post-politics.
- Investment Focus Areas: Not specified.
- Notable Investments: Not specified.
What's Next for Mark43?
Mark43 stands at the cusp of significant growth opportunities, driven by the increasing demand for advanced public safety software. With a recent $101 million Series E funding, the company is poised to develop new products and expand its reach both in the U.S. and internationally. The law enforcement software industry is expected to grow at a compound annual growth rate of about 10 percent, presenting a substantial market for Mark43 to tap into.
Future fundraising opportunities seem promising as the company continues to scale and innovate. The substantial investment in Series E suggests potential for additional funding rounds to support further expansion and product development. However, challenges such as competition from other public safety software providers and potential budget cuts for police departments due to the "defund the police" movement could pose hurdles. Despite these challenges, Mark43's strategic focus on fostering community dialogue and modernizing legacy systems positions it well for sustained growth.
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