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Grayshift Secures $47 Million Series A Financing Round Led by PeakEquity Partners

ATLANTA – October 26, 2020 – Grayshift, LLC, a leading provider of mobile device digital forensics, specializing in access and extraction, today announced it has raised a $47 million series A round of financing, led by PeakEquity Partners.

“This investment validates Grayshift’s innovation and how we are transforming this industry,” said David Miles, co-founder and CEO of Grayshift. “In addition to doubling revenues, customer adoption, and employee growth over the past year, I’m especially proud that we’ve built a successful digital forensics solution that provides lawful access during the course of criminal investigations.”

This minority investment will help Grayshift accelerate sales and marketing initiatives, grow the research and engineering teams, expand product offerings, and increase global awareness of its flagship GrayKey solution. Jim Sheward and Justin Reger with PeakEquity Partners and Tom Noonan will join Grayshift’s Board of Directors.

According to Miles, “The digital forensics industry is ripe for innovation. The prevalence of mobile devices combined with advancements in modern encryption are creating an unyielding demand and urgency in the race to solve crimes. At Grayshift, we have the courage to develop solutions that empower law enforcement to safeguard and protect our communities.”

“Digital forensics is a growing, complex market with highly-nuanced and technical challenges,” said Justin Reger, Partner with PeakEquity Partners. “Grayshift addresses these challenges head-on and raises the standard by which these technologies are measured. Grayshift delivers one of the fastest, most reliable solutions, and strives to operate with the highest integrity. PeakEquity is excited to help fuel its impressive growth and mission to aid in creating safer communities.”

“One of the primary reasons we invested in Grayshift is because they are aimed squarely at solving one of the biggest challenges in digital forensics,” added Tom Noonan, Chairman of TEN Holdings and founding partner at TechOperators. “We continue to be impressed by Grayshift’s ability to build innovative solutions that meet a critical need and are impactful to both law enforcement and public safety. Today’s new reality requires creative thinking about digital forensics, and that’s exactly what Grayshift brings.”

Grayshift delivers the most robust access and extraction capabilities for locked and encrypted mobile devices. A trusted partner to law enforcement and government investigative agencies, Grayshift enables lawful, same-day access to solve more crimes in less time. Key features and benefits of the GrayKey solution include:

  • SPEED – Same day extractions from locked iOS devices
  • ACCESS – Most comprehensive iOS device support
  • DEPTH – Extract the full contents from iOS devices
  • CONTROL – Maintain evidence chain of custody

Croft & Bender LP served as Grayshift’s investment banker on the transaction and DLA Piper provided Grayshift’s legal counsel.


About PeakEquity Partners

PeakEquity Partners ( is a private equity firm focused on investments in software companies. The principals of PeakEquity Partners have extensive experience as investors and operating executives in multiple market sectors. The firm invests in businesses that have large addressable markets, market-tested technology, products and offerings, and demonstrated traction with a meaningful base of reference-able customers. The firm leverages and provides access to operating resources to help provide companies an edge in capturing market segment leadership and achieving revenue growth and margin objectives. For more information, visit


About Croft & Bender

Since 1996, Croft & Bender has provided superior M&A, capital raising, and financial advisory services to middle market and emerging growth companies. Croft & Bender provides independent advisory services on both sell-side and buy-side assignments and, with institutional relationships across the country, helps companies raise equity and debt capital, whether for growth or the recapitalization of existing shareholders. For more information, visit


About Grayshift

Grayshift is a leading provider of mobile device digital forensics, specializing in access and extraction. Grayshift solutions are purpose-built to help law enforcement and government investigative agencies swiftly resolve critical investigations and ensure public safety. The company’s innovative GrayKey technology provides same-day access, complete control, and comprehensive data extraction from mobile devices. Designed and assembled in the United States, GrayKey is trusted by 1000 agencies across more than 25 countries globally. For more information, visit