Peregrine Technologies Closes $250M Series D at $6.8B Valuation

Government AI funding is moving fast, and PR Newswire reports that Peregrine Technologies has closed a $250 million Series D at a $6.8 billion valuation. The round was led by Fifth Down Capital and Sequoia Capital, with OG Venture Partners, Goldcrest Capital, XYZ Ventures, and Godfrey Capital also participating. The San Francisco-based company, founded in 2018 by Nick Noone and Ben Rudolph, builds an AI platform that unifies fragmented data across siloed government systems while keeping permission-based access controls in place; the design is that Peregrine provides the search and intelligence layer without taking ownership of the underlying data.

The traction numbers are substantial. Peregrine reports serving 400+ agencies and organizations covering more than 125 million people across North America, and says it doubled its customer base over the past year. The company now has 450+ employees across five offices in San Francisco, Washington DC, New York City, Toronto, and London.

The highest-profile use case is large-scale event security. Eight of the eleven 2026 FIFA World Cup host cities have reportedly deployed the platform, and the company says it also coordinated security operations for Super Bowl LIX, the Grammy Awards, World Series, Kentucky Derby, and Academy Awards. The Kansas City Police Department credited the platform with an 18% violent crime reduction through its SAVE KC initiative, though the reporting presents this as the department's own attribution rather than an independently verified outcome.

What the reporting does not give you is a clear picture of how civil liberties oversight works across 400+ agency clients, or how the platform navigates growing regulatory scrutiny around law enforcement data aggregation as it expands into the UK and Canada. New offices in Toronto and London signal international ambition, and commercial pilots in financial services and travel hint at a market well beyond public safety. If those pilots convert, the addressable market for a federated intelligence layer extends considerably beyond the government sector that built Peregrine's current reputation.