US-based basketball statistics and data technology platform ShotTracker secured $11m yesterday in a round co-led by broadcast equipment manufacturer Evertz Technologies and Verizon Ventures, a subsidiary of telecommunications group Verizon.
Founded in 2013, ShotTracker provides statistics and analytics on basketball games using sensors embedded in balls, player jerseys and basketball courts. Once processed through the company’s algorithm, data is presented on an online dashboard and mobile app.
More than 63 Division I basketball programmes use the technology, and the company has formed partnerships with sports apparel brands including Nike, Adidas and Under Armour.
ShotTracker will use the funding to speed up the deployment of its technology across the National Collegiate Athletic Association’s Division I Conferences as well as for hiring new staff and further developing its technology.
Verizon Ventures managing director Michelle McCarthy said: “As real-time data tracking and analytics become critical components for coaches and players, instantaneous and interactive delivery powered by 5G is critical.
“ShotTracker’s real-time sports data will transform fan experiences, athletic performance, sports broadcast and more.”
The company raised $635,000 from undisclosed investors in 2014, according to a regulatory filling. It added $5m from advertising agency R/GA, Elysian Park Ventures, Greycroft Partners, David Stern and Earvin “Magic” Johnson two years later.
Ward Ventures led a $10.4m series A round for the company in 2018 that also featured Elysian Park Ventures, Greycroft Partners, KC Rise Fund, Irish Angels, SeventySix Capital, Stern and Ryan Howard., increasing its overall funding to $21m.
Other investors in ShotTracker include Sovereign’s Capital, Tack Ventures, Vitalize VC and TechNexus Venture Collaborative.