ShotTracker will get backing from Verizon in $11 million financing spherical

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ShotTracker, a basketball data analytics company.

Source: ShotTracker

Sports technology company ShotTracker announced on Thursday a $ 11 million financing round led by Verizon Ventures and Canada-based radio maker Evertz Technologies. The financing terms were not published.

ShotTracker is a data analytics company co-founded by Davyeon Ross that provides teams and broadcasters with real-time basketball stats and insights. The system uses sensors placed near arenas to track movement in real time and allow players to identify their most productive areas on the court. It uses sensors in basketballs, player jerseys, and pitch sensors to create a 3D pitch for enhanced analysis.

The ShotTracker systems cost approximately $ 45,000 to install and are used by more than 60 NCAA college basketball schools for men and women with partners such as clothing companies Nike, Adidas and Under Armor.

ShotTracker plans to use the funds to “expedite action in the NCAA Division I Power 6 basketball conferences, discontinue hires, form other key partnerships, and improve sensor capabilities and data collection for players, coaches, fans and broadcasters.”

With Verizon on board, ShotTracker said it will also improve its cloud infrastructure by adding 5G capabilities.

ShotTracker, a basketball data analytics company.

Source: ShotTracker

“ShotTracker’s real-time sports data will transform the fan experience, athletic performance, sports broadcast and more,” said Michelle McCarthy, executive director of Verizon Ventures, in a statement. “We are proud to invest in a team of industry veterans who are paving the way for data collection in gameplay to improve every aspect of the sport.”

Bill Moses, CEO of ShotTracker, added, “The entire ShotTracker team is excited to have the opportunity to work with two far-sighted technology leaders like Evertz and Verizon Ventures, each with unique skills to help us envision what is really real is to realize time statistics and analysis can mean. “

Last February, CNBC reported that ShotTracker had partnered with sports marketing firm Learfield IMG, which represents ShotTracker in the sponsorship market.

Prior to that round of funding, the company raised more than $ 25 million from investors, including NBA legend Magic Johnson and former NBA commissioner David Stern, who passed away last January.