Brian Sims

Forensic Analytics secures £4.5 million investment from Mercia

FORENSIC ANALYTICS, a digital forensics company whose communications analysis software is used by police forces throughout the UK, has secured a £4.5 million 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 in its cloud-based software platform and expand sales internationally.

Founded in 2013 by Joe Hoy, Martin Griffiths and Andrew Hausler, Forensic Analytics has “revolutionised” the way in which police gather digital forensic evidence. Its tactical and strategic software solutions include the Cell Site Analysis Suite, a cell site mapping tool that allows end users to analyse complex and diverse data sets efficiently and then proceed 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 Service as having a transformative effect in its investigative work aimed at combating ‘County Lines’ drug dealing networks.

The investment deal was led by Mercia’s Adam Lovell, Jason Warren, Angela Warner and Jonny Nixon.

R&D programme continuation

Steve Rick, CEO of Forensic Analytics, said: “I’m delighted that Forensic Analytics and Mercia have formed this partnership, which will enable us to continue our R&D programme and deliver the tools required by policing that generate results. This investment will also enable us to realise our ambition of being the UK’s leading provider of digital forensic solutions and also expand on an international basis.”

Rick went on to state: “Thanks to the Cell Site Analysis Suite, the Metropolitan Police Service was able to analyse its data within days rather than months which not only disrupted ‘County Lines’, but also led to a 99% conviction rate of individuals prosecuted in the courts and resulted in increased custodial sentences.”

In conclusion, Rick noted: “The technological capability that the Cell Site Analysis Suite delivers is now benefiting not only the Metropolitan Police Service, but also the majority of forces in the UK. It allows the police to be at the cutting edge of revolutionary digital forensics which can harness the power of digital and the cloud, significantly boosting the delivery of precise, more targeted and proactive policing approaches and early interventions.”

Significant investment

Dr Mark Payton, CEO at Mercia Asset Management, explained: “Forensic Analytics is yet another example of the innovation and entrepreneurship to be found in the UK. This significant investment round, not only from our balance sheet, but also from our Northern VCT Funds, alongside our continuing active approach to supporting businesses, demonstrates how Mercia’s Complete Connected Capital can help accelerate growth.”

Payton also observed: “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 the business further scales and builds on its successes to date.”

Mercia Asset Management was advised by Pinsent Masons (legal), GRAPH (commercial due diligence), Craig Corporate (financial due diligence), Ten Tenths (tech due diligence). Catalysis (Management) and Philip Hare Associates (tax).

Forensic Analytics was advised by Andy Morgan, Adam Bunch, Charles Cusworth and Bilal Hussain of Grant Thornton (corporate finance advice) alongside James Klein, Kat Hornsby and Matt Douglas of Shoosmiths (legal).

Company Info

Security Matters

Western Business Media
Dorset House
64 High Street
East Grinstead
RH19 3DE

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