SPORTLOGiQ Inc. has raised $5.0M in Series A funding led by Rho Canada Ventures II L.P., joined by new investor Anges Quebec Capital S.E.C., and early investors Mark Cuban, TandemLaunch, and 12 Canadian and European angel investors.
TandemLaunch, which incubated and seed-funded SPORTLOGiQ, will remain as the largest shareholder of the company.
In connection with the financing, Sean Brownlee, Partner at Rho Canada Ventures has joined SPORTLOGiQ board of directors.
SPORTLOGiQ’s proprietary computer vision technologies track and analyze in-game player movement using standard broadcast feeds. The company’s advanced analytics engine transforms these raw data streams into actionable insights for professional sports teams and automated stories for broadcast media partners.
New funds will be used to continue to commercialize the technology, as well as ramp up its real-time player tracking system.
“SPORTLOGiQ has very quickly developed a leadership position in the fast-growing market for AI-powered sports analytics,” said Brownlee. “What Craig, Mehrsan and the team have developed over the last two years is impressive and we’re thrilled to be working together.”
A prominent investment group from Stockholm, Sweden has also participated in the round and will assist with business development in Europe.
“We are very excited to be part of the SPORTLOGiQ family. In particular, we are looking forward to working with their talented team given their machine learning competencies and cutting-edge digitized sports data collection. SPORTLOGiQ is the disruptive game changer the market has been waiting for,” said Peter Wallén of the investment group. “We hope to contribute with deep knowledge of the European market and support in bringing the product to soccer, the largest sport in the world.”
“This is a tremendously exciting time for AI, computer vision and machine learning. We are fortunate to be working with some of the top researchers globally, ensuring that our technology remains ahead of the curve in a rapidly developing environment.” said Craig Buntin, former Olympic athlete, co-founder and CEO of SPORTLOGiQ. “The response from our customers over the past two years has been incredible, and seeing that same response from our investors has been truly amazing. We are happy to welcome this new group of investors and look forward to the next phase of our team’s development.”
photo credit: SPORTLOGiQ
Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.
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