August 18, 2009
VC Firm Austin Ventures Leads $7.2 Million Investment in Series B Funding for CrimeReports.com
Based in Salt Lake City, Utah, online crime reporting firm, CrimeReports.com announced today that it had received $7.2 million in series B funding led by Austin Ventures. Other investors who participated in this round of funding include the companyâ€™s existing investor, vSpring. This round of funding comes as CrimeReporter.com is poised to expand its service offerings.
CrimeReports.com is one of the largest and most accurate crime reporting services in the United States and has over 500 agencies nationwide that works closely with local law enforcement agencies to get the crime reports in the regions it serves. CrimeReports.com offers online software to law enforcement agencies and neighborhood watch groups accurately estimate crime rates in their areas. Furthermore, CrimeReports.com also provides communities access to the map on its website and emails community members regular crime alerts.
In the past year, CrimeReports.com defined itself as the leader in web 2.0 quality crime tracking software for law enforcement and the company has experienced record sales growth in the past year. Just in the past two months, CrimeReports.com has expanded its client base expand to over twenty percent. This record growth has been partly because law enforcement agencies have been very enthusiastic about the service that CrimeReports.com provides.
According to the CEO and founder of CrimeReports.com, Greg Whisenant; the company is very pleased to have received this funding round that was led by Austin Ventures. Mr. Whisenant further added that the proceeds from this round of funding will greatly help CrimeReports.com to expand its client base and increase its services into states where CrimeReport.comâ€™s services are not yet available. Furthermore, this funding will also allow CrimeReports.com to be able serve law enforcement agencies of all sizes and budgets.
Mike Dodd, venture partner at Austin Ventures further stated that this round of funding and the commitment that Austin Ventures has placed in CrimeReports.com is a testament that the vc firm is confident that CrimeReports.com can meet the real needs that often go unmet by todayâ€™s law enforcement agencies and community watch groups.
Furthermore, as part of the agreement of this funding round, Mike Dodd will also be joining CrimeReports.comâ€™s board of directors.
Austin Ventures is both a vc and private equity firm that is dedicated to backing talented entrepreneurs and startup companies. Austin Ventures currently has ten funds which all together add up to $3.9 billion under its management. Furthermore, Austin Ventures is one of the most active vc and private equity firms in the state of Texas and it invests mainly in companies and entrepreneurs who are in the business services, media, tech, software, and internet industries. Some other companies in Austin Venturesâ€™ portfolio include Active Power, Boca, CompUSA, Dazel, McDATA, Star Concrete, and others.
For more information about CrimeReports.com, click here.
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