Peregrine raises $250M Series D at $6.8B valuation
What's the deal? Peregrine, a San Francisco-based AI data integration platform for public safety, has raised $250 million in Series D funding at a $6.8 billion valuation.
The round was led by existing investors, including Fifth Down CapitalDealroom has a profile for this one. Try Dealroom →, Sequoia Capital, OG Venture Partners, Goldcrest CapitalDealroom has a profile for this one. Try Dealroom →, XYZ Ventures, and Godfrey CapitalDealroom has a profile for this one. Try Dealroom →.
Founded by ex-Palantir leader Nick Noone and former United Nations High Commissioner for Refugees technologist Ben Rudolph, Peregrine connects the data a government already holds — police records, 911 logs, permit databases, sensor feeds — and makes it searchable in real time, without owning any of it.
Why now? Peregrine is currently running the security fusion centre for eight of the 11 host cities for the 2026 FIFA World Cup.
Its customer base has more than doubled over the past year, now serving more than 400 agencies representing roughly 125 million people across North America. Noone expects to work with close to 1,000 cities by year-end.
The new valuation marks a nearly 3x jump from its $2.5 billion Series C just 15 months ago.
What could go wrong? Peregrine sits squarely in the civil liberties debate over AI and law enforcement.
A 2026 Information Technology and Innovation Foundation survey found 54% of Americans believe AI-powered mass surveillance is too dangerous. Community members have shown up at city council meetings to oppose Peregrine contracts, citing the company's Palantir roots.
The company says it doesn't use facial recognition, doesn't create new data, and builds audit trails that flag misuse. "Broken promises have broken trust. I don't think words are enough," Noone told Fortune.
The signal: Govtech AI is booming, a market valued at roughly $25 billion in 2025 and projected to reach $109 billion by 2035, yet Dealroom still classes Peregrine as early stage despite its $6.8 billion valuation. That gap underscores how fast this category is maturing — and how much room a politically scrutinised player still has to prove its guardrails can hold.
Read more: fortune.com
