Benchmark Analytics, a Chicago, IL-based provider of a SaaS-based, data-driven enterprise analytics platform, received a Strategic Growth investment from PSG Equity.
The amount of the deal was not disclosed.
The company in tends to use the funds to expand operations and its business reach.
Led by CEO Ron Huberman, Benchmark, in collaboration with its research partners led by the University of Chicago, as well as technology developers, has created an evidence-based police force management and early intervention system. Using an integrated, proprietary software platform to help solve critical personnel management pain points, it serves the law enforcement, corrections, and risk insurer markets throughout the U.S. Its 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 aims 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.
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, the company serves insurance risk pools in 8 states, reducing liability costs and risk for hundreds of agencies.
FinSMEs
11/07/2024