Dublin-based Kitman Labs, a sports analytics company that uses artificial intelligence to increase athlete performance and health, announced that it has raised $52M (approx €45M) in a fresh round of funding. With this, the company has now raised a total funding of $82M (approx €70.98M) to date.
The funding was led by Guggenheim Investments (on behalf of certain of its managed accounts), a global asset investment and advisory firm with more than $259B in AUM.
The raised capital will help the company to invest in data science and development of its platform to help teams consolidate more data from across their organisation into a single platform, improve and automate workflows for all departments in a sports team, and turn data into powerful intelligence.
Further, the funds will also help Kitman Labs to hire new talents for its product development. The company has witnessed a growth of 56 per cent a year in global headcounts and is looking to grow its current team of 125 by 100 people, an 80 per cent increase in the size of the company.