We're thrilled to share a second GoingVC Partners' investment opportunity this week: Multitude Insights, a Collaboration Platform for Law Enforcement Agencies powered by AI.

As an accredited member of our exclusive community, you have the ability to invest in this syndicate opportunity.

About Multitude Insights | Multitude Insights is a B2B and B2G SaaS company that simplifies how law enforcement officers generate reports, disseminate information, and collaborate to solve cases. They have built a critical public safety communication tool called BLTN, with advanced analytics that aims to be the de facto platform for capturing ground truth data from their users. A Boston area Sergeant Detective said, “Before BLTN, our most advanced collaboration tool was email. BLTN makes our sharing smarter, faster, and easier. This is a must for any forward thinking department.”

Multitude Insights is able to capitalize on several structural trends - a workforce of courageous professionals that are not easily replaced by AI, regulatory requirements for reporting incidents, a proliferation of digital tools to capture information among the greater population but a dearth of platforms for professionals to collaborate this plethora of sensitive data. Multitude Insights’ unique cloud based platform, optimized for web and mobile, digitizes this historically analog industry and revolutionizes the way vital information is accessed, shared, and utilized.

Overall, investing in Multitude Insights supports market critical safety innovation and its inextricable role in protecting democracy. The company has developed a communications and intelligence technology platform, simplifying and shortening communications and reporting on the front-end, while delivering hyper-personalized algorithmically generated feed to the individual users and a digitally searchable database. Further, they are leveraging AI to deliver insights and alert departments on matches across cases, while their Generative AI explains the connections to users, making it a compliant tool in a litigation case. These insights allow cases to be solved in 3-4 hours instead of days to weeks, if ever. With a strong product and experienced leadership team, Multitude Insights is well-positioned to capture a significant market share and continue its growth trajectory, and this is why we're excited to syndicate an opportunity for investors to capitalize on the booming demand for civil defense tech and AI-driven solutions in the enterprise space.

Why We're investing in Multitude Insights

Strong value proposition for large, underserved initial target market | Communication and collaboration tools are essential to any organization, and become even more critical when teams are distributed, face complex challenges, and need swift decision-making in rapidly evolving situations. This is the market need of more than 1M US law enforcement agents across tens of thousands of departments, not to mention all tangential industries that interact with law enforcement.

Multitude Insights directly serves this underserved group of law enforcement agents through their collaborative platform and suite of tools, which creates a base for integrations with multi-billions dollar industries such as: Retail Loss Prevention (>$100B in loss in 2022), Insurance Underwriting ($26.9B loss in 2022), Real Estate Data providers ($13B by 2024). Ultimately, expanding the total addressable market beyond law enforcement.

Unit Economics | The company’s value proposition is backed by strong economics - Multitude Insights has a pipeline of customers valued at $4M ARR for 2024. Due to the nature of government contracts, Multitude Insights forecasts an LTV:CAC of 89:1. This unusually high number (12x top industry expectations) reflects the long contract length. While government agencies are their primary customer segment, they have also seen interest from a number of private sector customers. These customers have a higher willingness to pay for select features that are outputs of Multitude Insights’ platform. The sales cycles here are anticipated to be shorter, but there is a risk of higher churn or expensive service level.

Multitude Insights plans to reach 3,600 police departments by 2028 and an additional 12,000+ retail locations, resulting in an estimated ARR of $327M by 2028, with >70% margins.

Defensibility | Multitude Insights has identified a treasure trove of data, by acting as the first platform for cops that has adequate data protections. While the app is publicly available to download, a user needs an authentication key to open an account. The platform is designed to be compliant and can be a lead player in ethical AI.

They trained their LLM with proprietary data, and structured the output to match various use cases. Since the core paying user is a government agency, the contract is even more unlikely to lapse than an enterprise software client. The agencies that pilot, adopt, and incorporate the software will have several hurdles to surpass in order to end the contract. There are additional viral loops, like email sharing functions embedded in the platform currently, that produce virtuous spirals of engagement and adoption. Over time, these data network effects lead to high switching costs for police departments and peripheral private industries.

World Class Founding Team

The founders of Multitude Insights, Matt White and Akihiko Izu, have an excellent founder-market fit given their extensive experience in intelligence, government sales, policy and law.

The CEO, Matt White, brings a wealth of intelligence experience to the team, coupled with a profound understanding for addressing communication challenges. He has lived domain experience as a former active duty Electronic Warfare Officer in the US Navy. After his Naval service, he engaged in a number of deep-tech start-ups related to intelligence services that shipped products to the government. He received dual Masters Degrees from MIT and Harvard in Business and Public Administration. COO Aki Izu is a former M&A lawyer from a top Japanese law firm, where he specialized in data regulations and finance. He served as Policy Secretary to the Ministry of Justice. His JD is from The University of Tokyo and his MBA is from MIT, where he and Matt met in their first year. Additionally, the CTO, Frank Conry has more than 12 years of experience in tech, building and shipping products to enterprise and Government.

Their domain expertise in intelligence, government, enterprise software, and AI-driven solutions has enabled them to build a world-class offering with differentiation, and has positioned the company for success.

Funding & Investor Details

Multitude Insights is raising $3 million in new money at a $10.5 million post-money valuation on preferred stock for their Seed Round.

The round is being led by Commonweal Ventures. Existing investors include: Rough Draft Ventures (Pre-Seed Fund of General Catalyst), Dasein Capital (Pre-Seed/Seed Fund based in NYC investing in AI/ML), E62 Ventures (Cambridge, MA fund investing in MIT-affiliated start-ups), FVG (Seed fund investing in Defense Tech & Dual Use). Additionally, they have the backing of Henry Ford III (angel and director of Ford Motor Company), Jeffrey Weiner (super angel, Executive Chairman at LinkedIn), Junichi Takamura (angel, CEO of EduLab), among others.

If you have any questions or would like to see our diligence work, please email investments@gvc.partners

GoingVC Partners sees over a thousand amazing companies that are vetted through an intensive due diligence process. The rare few that we have high conviction around are presented as investment opportunities to our exclusive angel investor network.

Opportunity to invest in these deals is restricted for accredited investors within the GoingVC Angel community. You can view GoingVC Angels terms & conditions which were sent to you upon joining our community.