The investment will support the digital forensics company’s UK and International expansion plans
Forensic Analytics, a digital forensics company whose communications analysis software is used by police forces throughout the UK, has secured a £4.5m investment from Mercia Asset Management PLC (Mercia).
The company’s first fundraising, from Mercia’s own balance sheet and the Northern VCT Funds managed by Mercia, will allow the business to further invest into its innovative cloud-based software platform and expand its sales internationally.
Founded in 2013 by Joe Hoy, Martin Griffiths and Andrew Hausler, Forensic Analytics has revolutionised the way police gather digital forensic evidence. Its tactical and strategic software solutions include Cell Site Analysis Suite (CSAS), a cell site mapping tool that allows users to analyse complex, diverse data sets efficiently, and go on to create reports to an evidential standard at speed.
Its technology has led to the successful prosecution of some of the UK’s most sophisticated criminal networks and was this year recognised with a Queen’s Award for Enterprise as well as being cited by the Metropolitan Police as having a transformative effect in their investigative work combating so-called county lines drug dealing networks.
The investment was led by Mercia’s Adam Lovell, Jason Warren, Angela Warner and Jonny Nixon.
Steve Rick, Chief Executive of Forensic Analytics, said:
“I am delighted that Forensic Analytics and Mercia have formed this partnership, which will enable us to continue our R&D programme, to deliver the tools required by policing that generate results. This investment will also enable us to realise our ambition to be the UK’s leading provider of digital forensic solutions and expand internationally.
The impact of our Cell Site Analysis Suite (CSAS) was demonstrated most recently through the results CSAS delivered for the Metropolitan Police Service to disrupt county lines.
“Thanks to CSAS, the Met was able to analyse its data within days rather than months which not only disrupted lines, but also led to a 99% conviction rate of individuals prosecuted in the courts, and resulted in increased custodial sentences.
In a recent speech to the Superintendents Association Conference, Metropolitan Police Commissioner Cressida Dick told how over an 18-month period, thanks to Forensic Analytics’ CSAS, the Met was able to close 533 county lines, which resulted in more than 1,000 individuals being arrested, 1,624 charges brought and a 99% conviction rate achieved, including many long custodial sentences.
“The technological capability that CSAS delivers is now benefiting not only the Met but also the vast majority of forces in the UK. It allows police to be at the cutting edge of revolutionary digital forensics which can harness the power of digital and the cloud, significantly boosting delivery of precise, more targeted proactive policing approaches and early interventions.”
Dr Mark Payton, Chief Executive Officer of Mercia Asset Management, said: “Forensic Analytics is yet another example of the innovation and entrepreneurship found in the UK. This significant investment round, not only from our balance sheet, but also our Northern VCT funds, alongside our continuing active approach to supporting businesses demonstrates how Mercia’s Complete Connected Capital can help accelerate growth. As we continue with our vision to be the first-choice investor for exciting purpose-led businesses such as Forensic Analytics, at all stages of their development, we look forward to working closely with Steve and the rest of the management team as it further scales and builds on its success to date.”