# Magnet Forensics Magnet Forensics is a Software (Digital Forensics) based in Waterloo, Canada. ## Overview - **Organization type:** Software (Digital Forensics) - **Headquarters:** Waterloo, Canada - **Region:** North America - **Address:** Waterloo, ON, Canada - **Founded:** 2011 - **Assets under management:** Undisclosed - **Website:** magnetforensics.com - **LinkedIn:** https://www.linkedin.com/company/magnet-forensics ## Regulatory record - **Reports private funds:** No ## About Magnet Forensics was co-founded in 2011 by Jad Saliba, a former digital forensics examiner with the Waterloo Regional Police, and Adam Belsher, a former BlackBerry executive who became CEO. Saliba built the initial tool, Internet Evidence Finder, to recover deleted browser history during a child exploitation investigation. The company grew quietly, bootstrapping its way to over 400 employees without institutional venture funding, and listed on the Toronto Stock Exchange in 2021 at a valuation exceeding $1.3 billion (per The Globe and Mail, 2021). The firm develops software that acquires, analyzes, and shares digital evidence from computers, smartphones, cloud services, and IoT devices — covering endpoints, mobile, and cloud forensics. Its core platforms, Magnet Axiom and Magnet Graykey, are deployed across public safety, national security, and corporate investigation teams. Customers include the Federal Bureau of Investigation, the US Department of Defense, and London's Metropolitan Police. Geographically, the firm supports agencies across North America, Europe, the Middle East, and Asia-Pacific, with confirmed contracts in Canada, the United States, the United Kingdom, Australia, and Japan. By 2022, Magnet Forensics reported total revenue of $96 million with a team that had grown considerably from its bootstrapped origins. The company had no investment vehicle structure — it operated as a single public entity. April 2023: Thoma Bravo completed its acquisition of Magnet Forensics, taking the company private in an all-cash deal valued at roughly $1.8 billion (per Reuters, April 2023). A group of insiders including Saliba and Belsher retained minority equity alongside the private equity firm, continuing to run the company as a standalone platform. What distinguishes Magnet Forensics structurally is its origin as a bootstrapped public-safety tool built by a former cop, not a typical venture-backed enterprise software story. It went public, then private again through a sponsor that typically consolidates software platforms. ## Sectors - Cybersecurity - Enterprise Software ## People - Adam Belsher — Chief Executive Officer - Jad Saliba — Founder & Chief Technology Officer ## Questions ### What does Magnet Forensics actually build? Magnet Forensics develops digital investigation software used to acquire, analyze, and share evidence from computers, smartphones, cloud services, and IoT devices. Their flagship products, Axiom and Graykey, allow forensic examiners to recover deleted data, parse chat logs, and reconstruct user activity. The tools are used by law enforcement and military agencies in more than 90 countries. ### Who owns Magnet Forensics after the Thoma Bravo deal? Thoma Bravo completed its acquisition of Magnet Forensics in April 2023, taking the company private in an all-cash transaction valued at approximately $1.8 billion (per Reuters, April 2023). Founder Jad Saliba, CEO Adam Belsher, and certain other insiders retained a minority stake and continue to lead the company. ### How does the firm source its business relationships? The firm has historically sold directly to government agencies, police forces, and military units through a trained forensic consultant network and established procurement channels. Its first client relationships were built by founder Jad Saliba's reputation within the Canadian law enforcement forensics community, expanding outward to US federal agencies and Five Eyes allies. ### What is Magnet Graykey and why does it matter? Graykey is a purpose-built forensic tool for lawfully extracting encrypted or locked data from iOS and Android devices. The device, sold exclusively to government and law enforcement agencies, supports investigations where secure phones contain critical evidence. It is one of the few commercial tools capable of extracting data from modern locked smartphones, placing Magnet Forensics at the center of the law enforcement encryption debate. ## Related profiles - [Interstate Waste Services](https://altss.com/profile/interstate-waste-services) --- Last updated: 2026-08-11T02:43:31.692Z Canonical page: https://altss.com/profile/magnet-forensics-inc Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology