PlaySight Interactive, a US-based developer of sporting performance analytics technology, increased its series C round to $21m yesterday by adding $10m from investors including a subsidiary of telecommunications group SoftBank.
SoftBank Ventures Korea was joined in the extension by CE Ventures, a venture capital fund that has a strategic partnership in place with online lending platform CreditEase.
The first $11m was supplied in June 2017 by Verizon Ventures, the corporate venturing arm of telecoms firm Verizon, as well as golfer Greg Norman’s family office, and private investor David Chessler, Norman’s partner.
PlaySight has created a software platform that uses high-definition cameras and interactive touch-screen kiosks to provide detailed analytics on sporting performance, capturing the play from a range of angles.
The technology initially focused on tennis, but PlaySight has adapted it for use in 25 sports including basketball, football, American football, hockey and volleyball.
Jay Choi, a senior associate at SoftBank Ventures Korea said: “PlaySight’s vision is to become the technology platform of choice used by the mass market of youth, amateur and professional sports.
“It is only a matter of time before all competitive sports will adopt video and connectivity solutions in their courts and arenas, and PlaySight offers the highest performance solution and innovative business models to suit customers of all types.”
The round took PlaySight’s total funding to $26m. Investment manager D5 Capital provided $1.5m of funding for the company in 2012 before a range of angel investors including tennis professionals Novak Djokovic and Billie-Jean King added $3.5m two years later.