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Sports Performance Tech is  🔥  Up!

Sports Performance Tech is  🔥  Up!
October 26, 2020

Technology has transformed our lives in so many ways. For athletes, pro and amateur, they have been able to push their performance to their limits, in ways that were unimaginable just half a century ago. Sports performance tech continues to be a hot business industry especially as some companies are expanding beyond professional leagues to the prosumer. 

  • Partnerships galore. HYPERICE, a sports technology company that specializes in rehabilitation equipment using vibration, percussion, and thermal technology, has been grabbing attention from investors and sports leagues. It bagged an equity funding this month of $48MM from NBA and NFL as well as individual athletes such as tennis star Naomi Osaka and Los Angeles Lakers forward Anthony Davis. It has also been announcing a slew of partnerships from MLB to the PGA tour in the past week.

  • Massage therapy competitor Theragun also packs a celebrity punch, welcoming tennis star Maria Sharapova as an Angel investor in August this year. Like HYPERICE, their products markets on being available to consumers, beyond Hollywood stars and the sports industry, although it comes with a heavy price tag.

    Photo by LittPro Inc on Unsplash

  • Video analysis tools. Video technology company Hudl is used by 6 million coaches worldwide, both professional and amateur, to analyze and review outcomes from a ball play to a high school cheerleading performance. The Lincoln, Nebraska-headquartered company received new funding from Bain Capital in May as the sports analysis business continues to grow at a reported 27%+ CAGR according to IT Intelligence Markets. 

  • AI for Sports. The Dublin sports analytics company Kitman Labs uses AI to increase athletic performance and health for professional sports teams and its software is used by the largest sports leagues in the world such as NFL, NHL, and English Premier League. Midst the pandemic, it still raised $6MM in July from Qvidtvm by including COVID-19 symptom monitoring with its analytics.

  • Science to reduce injury. Sparta Science is a company that uses movement diagnostic software to minimize injuries and optimizes performance. Aside from professional sports, it is used by military forces as well. It received a $16MM Series B funding from GSR Ventures U.S. and Arsenal Growth, the only firm that has managed investment funds from the United States Army and for the United States Treasury Department. 

  • Smart clothing for the military. Athos, a Redwood City, California-based wearable tech company, manufactures outfits that are equipped with EMG sensors that capture muscle behavior in real-time and transmits the data to a mobile device via Bluetooth. Aside from its use by professional sports teams in the U.S. it also pivoted to deliver outfits to tactical units. 

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Since last week, PrivCo has added:
1898 Companies | 130 Funding Activities | 78 M&A Deals

Funding & Deal Highlights:

New and used car marketplace CarLotz goes public via a business combination agreement with SPAC Acamar Partners Acquisition

Budderfly, a Shelton, Connecticut-based energy efficiency as a service provider, raises $7.8MM. The round was co-led by Edison Partners and Balance Point Capital, with additional participation from Connecticut Innovations.

Newfront Insurance, a San Francisco,-based technology-driven modern insurance brokerage, raises $100MM in funding.

Robust Intelligence, a San Francisco company that provides AI security solutions, raises $14MM in Seed and Series A.

Arctic Wolf, a Sunnyvale, California company, raises $200MM Series E round led by Viking Global Investors, with additional participation from DTCP and existing investors. This security operations company will accelerate the introduction of new security operations offerings and address new markets with the new funds. 

Lili announced it has raised a $15MM funding round to accelerate growth as the American workforce is increasingly turning to freelance during COVID-19. The round was led by Group 11. Lili is an all-in-one banking app designed for freelance workers.

Render raises $4.5MM for its DevOps platform marketed as the simplest cloud provider in seed funding led by General Catalyst Partners.

Yuanfudao, a Chinese homework tutoring app founded in 2012, has raised $2.2BN from investors, in a second G round funding led by DST Global. 

Atos, the European cloud, cybersecurity, and high-performance computer leader acquired U.S. Salesforce partner and software services company, Eagle Creek.

AavantiBio, a Cambridge, Mass.-based gene therapy startup focused on rare genetic diseases, raised $107MM in Series A funding from Perceptive Advisors, Bain Capital Life Sciences, RA Capital, and Sarepta Therapeutics

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