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Grayshift Announces Record Growth and Continued Innovation in Mobile Forensics Market
[May 04, 2021]

Grayshift Announces Record Growth and Continued Innovation in Mobile Forensics Market


ATLANTA, May 4, 2021 /PRNewswire/ -- Grayshift, LLC, a leading and trusted provider of mobile device digital forensics, specializing in lawful access and extraction, today announced that it achieved record growth in 2020 and is continuing rapid acceleration in 2021 with strong Q1 growth to launch the year. Grayshift grew total revenues by 90% year-over-year and tripled its employee base in 2020. Since complementing its best-in-class iPhone support with the introduction of support for leading Android devices during the first quarter of 2021, the company has seen immediate adoption and experienced continued strong growth in new bookings. Grayshift's ongoing momentum advances its mission to help enhance the criminal investigations of U.S. and worldwide law enforcement agencies by providing lawful access to modern mobile devices.

The incredible adoption rate of Grayshift's GrayKey indicates that the digital forensics industry is ripe for disruption

"Mobile device digital forensics is a critical component in criminal investigations today.  Access to digital evidence can mean the difference between swiftly obtaining critical lawful evidence and a criminal investigation going unsolved," said David Miles, Co-founder and CEO of Grayshift. "Law enforcement agencies need solutions like GrayKey that provide trusted, unequaled access to digital evidence, reducing the backlog of previously inaccessible mobile devices sitting in evidence."

Miles added, "Our GrayKey technology is actively being used to help solve investigations spanning child sexual abuse, human trafficking, homicide, missing persons cases, incidents involving matters of national security, and more. Grayshift's continued growth is a testament to how our technology is eing used to help our law enforcement partners solve crimes and safeguard our communities. I'm extremely proud of our team. We've assembled a world-class group of highly skilled security researchers and engineers to drive product innovation and deliver world class customer support."



Over the past year Grayshift achieved several milestones, including:

  • Customer momentum: During the past 12 months, Grayshift saw demand for GrayKey surge across the U.S. and globally, with a 48% increase in active license count and a notable 98% renewal rate.
  • Customer success:  Grayshift maintained a 100% Customer Satisfaction rating. It also achieved a Net Promoter Score of 74, which is among the highest in the industry for overall satisfaction and ease-of-use.
  • Business growth: The company's substantial revenue growth has been led by a 107% increase in international revenues over the trailing twelve months. Additionally:
    • In 2020, Grayshift also strengthened its strategic relationship with Magnet Forensics and through the partnership extended its channel reach across 30 countries.
    • Furthermore, Grayshift added several business partners, including PCI-Tec for procurement on GSA schedules and Criterion Solutions for customers in Australia.
  • Investor confidence: In October 2020, Grayshift announced that it had raised $47 million in Series A funding for a minority share. The investment was focused on accelerating sales and marketing initiatives, growing the research and engineering teams, and expanding product offerings. 
  • Product Innovation: The research and engineering team introduced GrayKey support for leading Android devices and implemented several product enhancements to enable faster access to and extraction of encrypted mobile evidence.
    • Introduction of Android devices and subsequent rapid releases that expand Android support and deliver feature-rich capabilities for mobile forensics
    • Same-day support of a major mobile software update the day it was released
    • 75% of customers reported gaining initial access to begin extraction of meaningful data within two hours
    • Almost half of customers reported that GrayKey has reduced their backlog of mobile devices by at least 80%
  • Industry accolades: Grayshift was recently recognized as an Excellence Award finalist in the Best Customer Service category for the 2021 SC Awards. This coveted award honors companies that deliver outstanding leadership and superior security products in the cybersecurity industry. In addition, Grayshift received a 2021 Pacesetter Award by the Atlanta Business Chronicle, which recognizes Atlanta's fastest growing private companies.
  • Team Expansion: Since January 2020, the employee count more than tripled, predominately in Grayshift's advanced research and engineering team. Moreover, Grayshift filled strategic senior positions, including: 
    • Mark Snell, CFO
    • Kerry Armistead, VP of Product Management
    • Rick Hensley, VP of Customer Success
    • Jody Kissling, VP of Marketing
    • Robert Palazzo, VP of Engineering
    • David Scruggs, VP of Sales

"As Grayshift has shown with the incredible adoption rate of GrayKey, the digital forensics industry is ripe for disruption. Grayshift's growing team brings a wealth of experience in designing and developing new product solutions and a high energy go-to-market strategy for rapid growth," says Miles. "Law enforcement agencies need solutions like GrayKey that can stand the test of time and provide the critical access needed to solve the most challenging mobile device forensic investigations. Grayshift's mission combined with the trusted relationship that we have built with our law enforcement customers is a winning formula for long-term success in the digital forensics market."


About Grayshift
Grayshift is a leading provider of mobile device digital forensics, specializing in lawful 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 30 countries world-wide. For more information, visit www.grayshift.com.

CONTACT:
Jody Ma Kissling
(833) 472-9539 
media@grayshift.com

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SOURCE Grayshift


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