Grayshift Bags $47 Million in Series A Round of Financing Led by PeakEquity

By StartUp City | Monday, November 09, 2020

Grayshift intends to use the newly raised capital to grow the research and engineering teams, accelerate sales and marketing initiatives, expand product offerings, and increase global awareness of its flagship GrayKey solution.

FREMONT, CA: Grayshift, a leading provider of mobile device digital forensics specializing in access and extraction, raised $47 million in series A round of financing led by PeakEquity Partners.

Grayshift intends to use the newly raised capital to grow its research and engineering teams, accelerate sales and marketing initiatives, expand product offerings, and increase global awareness of its flagship GrayKey solution. Jim Sheward and Justin Reger with PeakEquity Partners and Tom Noonan will join Grayshift's Board of Directors as a part of the deal.

"This investment validates Grayshift's innovation and how we are transforming this industry," said David Miles, co-founder and CEO of Grayshift. "In addition to doubling revenues, customer adoption, and employee growth over the past year, I'm especially proud that we've built a successful digital forensics solution that provides lawful access during the course of criminal investigations."

"Digital forensics is a growing, complex market with highly-nuanced and technical challenges," said Justin Reger, Partner with PeakEquity Partners. "Grayshift addresses these challenges head-on and raises the standard by which these technologies are measured. Grayshift delivers one of the fastest, most reliable solutions, and strives to operate with the highest integrity. PeakEquity is excited to help fuel its impressive growth and mission to aid in creating safer communities."

Grayshift delivers the most robust access and extraction capabilities for locked and encrypted mobile devices. A trusted partner to law enforcement and government investigative agencies, Grayshift enables lawful, same-day access to solve more crimes in less time. Key features and benefits of the GrayKey solution include:

SPEED – Same day extractions from locked iOS devices

ACCESS – Most comprehensive iOS device support

DEPTH – Extract the full contents from iOS devices

CONTROL – Maintain evidence chain of custody

"One of the primary reasons we invested in Grayshift is because they are aimed squarely at solving one of the biggest challenges in digital forensics," added Tom Noonan, Chairman of TEN Holdings and founding partner at TechOperators. "We continue to be impressed by Grayshift's ability to build innovative solutions that meet a critical need and are impactful to both law enforcement and public safety. Today's new reality requires creative thinking about digital forensics, and that's exactly what Grayshift brings."

Croft & Bender served as Grayshift's investment banker on the transaction, and DLA Piper provided Grayshift's legal counsel.

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