Forensic Analytics secures £4.5 million Series A investment from Mercia

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Forensic Analytics secures £4.5m investment from Mercia

Forensic Analytics, a digital forensics company whose communications analysis software is used by police forces throughout the UK, has secured a £4.5m investment from Mercia Asset Management PLC.

The funding, which comes from Mercia’s own balance sheet and the Northern VCT Funds managed by Mercia, will allow it to further invest into its innovative cloud-based software platform and expand its sales internationally.

Forensic Analytics has revolutionised the way police gather digital forensic evidence. Its software solutions include Cell Site Analysis Suite (CSAS), which allows users to analyse complex, diverse data sets efficiently, and 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 played a key role in combating so-called county lines drug dealing networks. In a recent speech, Metropolitan Police Commissioner Cressida Dick told how over an 18-month period, its CSAS tool had enabled the Met 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.

Founded in 2013 by Joe Hoy, Martin Griffiths and Andrew Hausler, Forensic Analytics is based in Letchworth, Hertfordshire. The company was also recognised this year with a Queen’s Award for Enterprise.

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.

“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.”

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

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.”

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 Adam Bunch and Charles Cusworth and Bilal Hussain of Grant Thornton (corporate finance advice) alongside, James Klein, Kat Hornsby and Matt Douglas of Shoosmiths (legal).

Ends

Media Contact: Philip Gates on 07525 645350 or email [email protected]

Notes to Editor

Forensic Analytics, based in Letchworth, Hertfordshire, are specialists in digital forensics. A recipient of the Queen’s Award for Enterprise: Innovation, they support the police, government and other law enforcement agencies in interpreting crucial digital media in criminal cases to assist with investigations and secure convictions. Launched in 2013, the company is largely comprised of former police officers and police analysts, communications experts, systems and telecoms engineers and ex-military. 95% of the UK’s police forces use them for data analysis, vocational training, specialist data analytics software, courtroom expert witness services and consulting. Unique in their field, Forensic Analytics are fast-becoming a ‘go-to’ for any law enforcement body looking to stay ahead of cybercrime. For more information, visit www.forensicanalytics.co.uk

About Mercia Asset Management PLC

Mercia is a proactive, specialist asset manager focused on supporting regional SMEs to achieve their growth aspirations. Mercia provides capital across its four asset classes of balance sheet, venture, private equity and debt capital: the Group’s ‘Complete Connected Capital’. The Group initially nurtures businesses via its third-party funds under management, then over time Mercia can provide further funding to the most promising companies, by deploying direct investment follow-on capital from its own balance sheet.

The Group has a strong UK footprint through its regional offices, 19 university partnerships and extensive personal networks, providing it with access to high-quality deal flow. Mercia currently has c.£940million of assets under management and, since its IPO in December 2014, has invested c.£111million gross into its direct investment portfolio.

Mercia Asset Management PLC is quoted on AIM with the EPIC “MERC”.

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