Hudl, a US-based producer of software that aids sportspeople in their training, has completed a $30m funding round that included student loans and educational finance firm Nelnet.
Venture capital firm Accel also participated in the round, along with philanthropists Jeff and Tricia Raikes, the former of which is an ex-president of software provider Microsoft.
Founded in 2006, Hudl has developed an online platform that enables teams to share and edit game videos for analysis, and create and edit highlight videos. Game films can also be sent to the company for detailed statistical reports on in-game activity.
The platform has more than 5.9 million unique users and is used by more than 150,000 professional and amateur teams across the world. Hudl plans to use the funding to increase headcount as it prepares to open a new worldwide headquarters later this year.
David Graff, chief executive of Hudl, said in a blog post: “The demand from teams across sports and levels of play has been overwhelming. We will provide analysis for over 300,000 games around the world this year.”
“To make this possible, we are growing our in-house team of analysts to 500 and we are pairing their work with machine learning and computer vision algorithms to give our customers fast access to their data and reports.”
The funding follows a $72.5m series A round closed by Hudl in 2015. Nelnet and Accel co-led the round, which included Jeff Raikes, and which came after $2.6m in funding between 2007 and 2010, according to securities filings.