Malmö, Sweden-based Spiideo, an AI-powered sports tech company, announced on Wednesday that it has secured $20M (approximately €18.3M) in a fresh funding round led by Munich-based growth equity firm — Cipio Partners.
Existing investors, including Mathias Kamprad, Måns Hultman (Tassaka AB), and Håkan Roos (Roosgruppen AB), participated in the round.
Roland Dennert, Managing Partner of Cipio Partners, will join the Spiideo board as a part of the funding round.
The Swedish company will use this new investment to further accelerate innovation by expanding its product and AI teams, and drive growth through an expanded international sales team.
Spiideo co-founder and CEO Patrik Olsson comments, “Spiideo is delighted to have Cipio Partners join our journey to 100% AI automation, resulting in a quantum leap in sports streaming and analysis. Sports video is undergoing a revolution, as traditional manual processes are rendered obsolete by the opportunities offered by AI, and this investment ensures that Spiideo continues to lead and shape this global industry transformation.”
“With the rising cost of media rights, providing a cost-effective and scalable broadcasting solution is more critical than ever. Now with our trajectory accelerated, more teams, leagues, and coaches – and ultimately fans – can enjoy the benefits of Spiideo’s technology than ever before,” adds Olsson.
Spiideo: Offering user-friendly solutions to the global sports community
Founded in 2012, Spiideo specialised in AI-automated sports video.
The company’s fixed and mobile camera systems for both indoor and outdoor sports integrate directly through the cloud with Spiideo Perform (analysis) and Spiideo Play (automated broadcasting).
With features such as AutoFollow, AutoData, CloudStudio Anywhere, and virtual panorama technology, the Swedish users have a full suite of tools to enhance their video.
Sports organisations and media rights holders are able to eliminate manual filming processes, analyse the performance in a single platform, share footage from the cloud, and automate broadcasts.
The company’s technology is present in more than 60 countries, and products are installed in over 6,000 venues and used by more than 4,000 teams across English football’s Premier League, NHL (North America’s National Hockey League), NBA (North America’s National Basketball Association), Serie A, MLS, Ligue 1, NCAA, Liga MX, and Bundesliga, as well as numerous second and third tier international leagues.
In addition to its production and live-streaming capability, the company’s ‘Spiideo Perform’ product – a cloud-based and multi-angle sports video analysis tool with live game and player data – unlocks the full potential of teams and players.
Currently, it is trusted by elite clubs such as Brentford, Wolves, Inter Milan, LA Galaxy, and numerous women’s national soccer teams, including Spain, World Cup winners, and all teams in the US National Women’s Soccer League (NWSL).
The investor
Founded in 2003, Cipio Partners is an investment management and advisory firm for European growth capital & minority buyouts for technology companies.
The company targets European growth stage technology businesses with €10-50M in revenue and makes initial investments ranging from €5-15M.
Roland Dennert, Managing Partner of Cipio Partners, comments, “Spiideo has consistently displayed growth and development as a company, evolving its product suite to capitalise on market opportunities. This funding round aims to accelerate Spiideo’s next phase of growth, as it consolidates its position within major sports whilst unlocking the use and monetisation of entirely new content categories. We are excited to be part of this revolution, supporting the market leader in the global transition to automatic sports video production.”
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