Benchmark Analytics® Announces Strategic Growth Investment from PSG Equity
July 10 2024 - 9:00AM
Business Wire
Investment to drive continued enhancement and expansion of
products supporting law enforcement personnel management and
officer wellness.
Benchmark Analytics, a SaaS-based, data-driven enterprise
analytics platform that enables public safety agencies to help
improve the performance and wellness of their workforce while also
helping to reduce risk, today announced a strategic growth
investment from PSG Equity. PSG is a leading growth equity
firm partnering with software and technology-enabled services
companies to navigate and capitalize on transformational
growth.
Co-founded by former police officers and public service leaders,
Benchmark is purpose-built to serve law enforcement agencies.
Benchmark’s platform helps drive continued digitization, eliminates
data silos, and leverages machine learning and data science to
deliver market-leading personnel and risk management solutions. The
company’s mission is to provide a comprehensive platform to help
serve all types of stakeholders including but not limited to
regulators, police departments, officers, and communities and
enable accountability and transparency. As of March 2024, Benchmark
serves agencies in 38 states, and as of October 2022, Benchmark
supports hundreds of thousands of law enforcement officers within
approximately 2,200 police, sheriff and corrections agencies—
including partnerships with 8 statewide agencies.
Benchmark’s First Sign® Early Intervention system allows
agencies to assess officer activities and behavior and use
predictive analytics to identify potential at-risk officers.
First Sign is a research-based early intervention solution,
developed in partnership with the University of Chicago, using a
proprietary database of over 60 million records to create a
research-based predictive model compared to legacy trigger-based
systems as of March 2024. Case Action Response Engine®
(C.A.R.E.), a course-of-action management platform, provides
customized plans of action to officers identified in First Sign as
needing career support and wellness assistance.
The company also offers Benchmark Management System®, a
comprehensive personnel management platform with 7 modules to
manage officer profile, training, activity, use of force, internal
affairs, community engagement, and performance evaluation.
Benchmark Risk Solutions® offers an evidence-based risk
mitigation system designed to help insurer risk pools assess
members’ agency risk and reduce the frequency and severity of
incidents. As of June 2024, Benchmark serves insurance risk pools
in 8 states, reducing liability costs and risk for hundreds of
agencies.
“We are thrilled to share the news of our partnership with PSG,
which we believe marks a significant milestone in Benchmark’s
journey,” said Ron Huberman, CEO and Co-Founder of Benchmark
Analytics as well as former Chicago police officer and deputy
chief. “We view this as a validation of our mission to help
redefine how law enforcement agencies throughout the U.S. track,
manage, and evaluate officer performance data through our
patent-protected, analytics-based systems.”
“PSG is proud to partner with Benchmark Analytics, which we
believe is poised to continue to make transformative advancements
within the public safety sector of the GovTech landscape,” said
Marco Ferrari, Managing Director at PSG. “PSG has great experience
supporting GovTech software businesses and leveraging AI to better
serve end customers. We look forward to helping Benchmark expand
its reach as the company strives to deliver unparalleled value to
agencies, their personnel, and the communities they serve.”
“Benchmark’s research-based approach, usage of proprietary data
to train its machine learning and AI models to deliver precise
analytics, industry know-how, and ability to help support the
safety and wellbeing of law enforcement officers and communities
were central to our decision to partner with the company,” added
Paul Russ, Principal at PSG. “We are excited to partner with
Benchmark’s team of public service leaders and data scientists to
support the business in expanding its product portfolio dedicated
to serving the law enforcement sector.”
Perella Weinberg Partners LP served as financial advisor, and
Kirkland & Ellis LLP served as legal counsel to Benchmark
Analytics.
About Benchmark Analytics
Benchmark, in collaboration with its esteemed research partners
led by the University of Chicago, as well as analytic
specialists and experienced technology developers, has created an
evidence-based police force management and early intervention
system. Using a fully integrated, proprietary software platform to
help solve critical personnel management pain points, Benchmark
serves the law enforcement, corrections, and risk insurer markets
throughout the U.S. To learn more about Benchmark Analytics, visit
www.benchmarkanalytics.com.
About PSG
PSG is a growth equity firm that partners with software and
technology-enabled services companies to help them navigate
transformational growth, capitalize on strategic opportunities and
build strong teams. Having backed more than 140 companies and
facilitated over 500 add-on acquisitions, PSG brings extensive
investment experience, deep expertise in software and technology,
and a firm commitment to collaborating with management teams.
Founded in 2014, PSG operates out of offices in Boston, Kansas
City, London, Madrid, Paris and Tel-Aviv. To learn more about PSG,
visit www.psgequity.com.
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Media Contacts Benchmark Analytics Bob Tulini
bob.tulini@benchmarkanalytics.com PSG Jackie Schofield
jschofield@prosek.com