Peregrine Technologies raises $250M Series D at $6.8B, triples valuation on government AI demand

Peregrine Technologies, a San Francisco-based AI data integration platform for public safety, closed a $250 million Series D at a $6.8 billion valuation on June 22, led by existing investors Fifth Down Capital, Sequoia Capital, OG Venture Partners, Goldcrest Capital, XYZ Ventures, and Godfrey Capital. The valuation nearly triples the company's $2.5 billion mark from 15 months prior, reflecting explosive demand from government agencies for unified operational intelligence. Founded by former Palantir employees Nick Noone and Ben Rudolph, Peregrine connects fragmented city data—police records, 911 logs, permit systems, sensor networks—and makes them searchable in real-time without collecting or owning the data itself.

Peregrine now serves over 400 agencies and organizations across North America, covering roughly 125 million people, and doubled its customer base in a single year. The platform has provided security operations for the Super Bowl, Grammy Awards, World Series, Kentucky Derby, Academy Awards, and eight of the eleven 2026 FIFA World Cup host cities. In Fairfax County, Virginia, investigators used Peregrine to identify a child abduction suspect in 13 minutes. In Kansas City, the SAVE KC initiative credited the platform with an 18% reduction in violent crime. The company now employs 450+ people across offices in San Francisco, Washington DC, New York, Toronto, and London.

The financing signals accelerating government spending on AI. Brookings projects worldwide AI spending will grow 44% year-over-year from $1.75 trillion in 2025 to $2.52 trillion in 2026, while the govtech AI market alone is expected to grow from $25 billion in 2025 to $109 billion by 2035. Peregrine's growth comes amid ongoing scrutiny of AI in policing, with opponents raising surveillance concerns at city council meetings. The company counters that it does not use facial recognition, does not create new data, and embeds audit trails and role-based access control. The capital will fund product development, hiring, and international expansion.