Benchmark Analytics—a SaaS-based, data-driven enterprise analytics platform that enables public safety agencies to improve the performance and wellness of their workforce while also helping to reduce risk—announced a strategic growth investment from PSG Equity. PSG is a leading growth equity firm that partners with software and technology-enabled services companies to navigate and capitalize on transformational growth.
Founded by former police officers and public service leaders, Benchmark is built to serve law enforcement agencies. And Benchmark’s platform helps drive continued digitization, eliminates data silos and utilizes machine learning and data science to provide market-leading personnel and risk management solutions.
The company’s goal is to provide a comprehensive platform to help serve all types of stakeholders, including regulators, police departments, officers, and communities, and enable accountability and transparency. And as of March 2024, Benchmark serves agencies in 38 states. As of October 2022, Benchmark supports hundreds of thousands of law enforcement officers within about 2,200 police, sheriff and corrections agencies— including partnerships with 8 statewide agencies.
Benchmark’s First Sign Early Intervention system enables agencies to assess officer activities and behavior and use predictive analytics to identify potential at-risk officers. And First Sign is a research-based early intervention solution, developed in partnership with the University of Chicago, utilizing 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.
The Case Action Response Engine (C.A.R.E.), a course-of-action management platform, offers customized plans of action to officers identified in First Sign as needing career support and wellness assistance.
The company also offers Benchmark Management System, which is 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 provides 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.
Perella Weinberg Partners LP served as a financial advisor and Kirkland & Ellis LLP served as legal counsel to Benchmark Analytics.
KEY QUOTES:
“We are thrilled to share the news of our partnership with PSG, which we believe marks a significant milestone in Benchmark’s journey. 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.”
– Ron Huberman, CEO and Co-Founder of Benchmark Analytics as well as former Chicago police officer and deputy chief
“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. 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.”
– Marco Ferrari, Managing Director at PSG
“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. 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.”
– Paul Russ, Principal at PSG
