Salt Lake City-based CrimeReports.com today announced a $7.2M Series B round of financing led by Austin Ventures, but also including return investor vSpring Capital. CrimeReports.com does online crime mapping, and sells their service to law enforcement agencies. Reports say that the company has expanded it’s client base 20% in the past two months.
“This commitment indicates our confidence in the vision and relevance of CrimeReports. The company has developed innovative web solutions that fill a real need in today’s law enforcement community,” said Mike Dodd, Venture Partner at Austin Ventures and CrimeReports board member. “CrimeReports’ continued strong growth is evidence that the market is ready for new ways to approach crime data and citizen involvement.”
Mike Dodd moved to Austin about a year ago from the Salt Lake area.
For those of you wondering what types of companies are garnering investment these days, there are some definite themes here. Solid vertical market story, solves a real need, easily identifiable pool of buyers, and good market traction.