We are excited to announce our investment in Mark43 -- a startup revamping the public safety world. Although the public sector has a tremendous amount of influence in our day-to-day lives, it is often characterized as lacking innovation and slow-moving. Often times, it doesn’t attract the kind of technology talent and innovation it needs. However, Mark43 is an exception. We are excited about the stellar team here tackling a big problem -- one that will have impact far beyond financial return.
First, it’s a big problem. Public safety software used today is archaic -- horrible interfaces, lack of analytical horsepower, and minimal integration. However, over 900,000 officers in the US alone use this type of software to enter safety and law enforcement data, with an average annual spend of $7-10 billion on public safety and intelligence units. It’s frightening to think that our safety and our ability to protect our communities relies on such antiquated systems. In a world where connectivity is omnipresent, it is time to bring the this software to the 21st century. Mark43 is finding easier ways to track crime, enabling better implementation of public safety measures, and making our officers more effective.
Second, to overcome the challenge of selling into the public sector, it requires a hungry, dedicated, and passionate team. Mark43 has all these qualities deeply embedded in the company’s culture. Scott’s enthusiasm for the product he is building goes far beyond the technical and financial implications. While we are impressed with the technical software they have built, we are most impressed with the vision the team has to completely revolutionize the public safety sector. They have spent an extraordinary amount of time on-the-ground with officers to understand the best way to integrate the software in existing workflows, built key relationships with chiefs of police forces, and already gained market traction with some of the largest and most influential police forces in the country.
We are excited to have Mark43 as part of the family at Innovation Endeavors -- we look forward to seeing a revolution in public safety.