Benchmark Analytics® Announces Strategic Growth Investment from PSG Equity
Benchmark Analytics, a leading SaaS-based analytics platform focused on improving law enforcement personnel management and officer wellness, has received a strategic growth investment from PSG Equity. This partnership aims to enhance and expand Benchmark’s data-driven solutions, including their early intervention system and comprehensive personnel management platform. By leveraging machine learning and data science, Benchmark serves over 2,200 agencies across 38 states, promoting accountability, transparency, and risk reduction within the public safety sector.
Investment to drive continued enhancement and expansion of products supporting law enforcement personnel management and officer wellness.
CHICAGO—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 Analytics, 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.
