ShotTracker gets support from Verizon in $11 million funding round

Sports tech firm ShotTracker on Thursday revealed an $11 million funding round led by Verizon Ventures and broadcast devices producer Evertz Technologies, based in Canada. Terms of the funding were not revealed. 

ShotTracker is an information analytics business co-founded by Davyeon Ross that supplies real-time basketball statistics and insight for groups and broadcasters. Its system utilizes sensing units positioned around arenas to track motion in real-time, permitting gamers to recognize their most efficient locations on the court. It utilizes sensing units in basketballs, gamers’ jerseys and court sensing units to develop a 3D court for improved analytics.

ShotTracker’s systems cost approximately $45,000 to set up and are utilized by more than 60 NCAA guys’s and females’s college basketball schools, with partners consisting of garments business Nike, Adidas, and Under Armour.

ShotTracker stated it prepares to utilize the funds to “accelerate its deployment across NCAA Division I Power 6 Basketball Conferences, expand hiring, further key partnerships and enhance sensor capabilities and data capture for players, coaches, fans and broadcasters.”

With Verizon onboard, ShotTracker stated it will likewise enhance its cloud facilities by including 5G abilities. 

“ShotTracker’s real-time sports data will transform fan experiences, athletic performance, sports broadcast and more,” stated Michelle McCarthy, Verizon Ventures’ handling director, in a declaration. “We’re proud to invest in a team of industry veterans as they pave the way for data capture in gameplay to improve all areas of the sport.”

Added ShotTracker CEO, Bill Moses: “The entire ShotTracker team is excited to have the opportunity of working with two such farsighted technology leaders as Evertz and Verizon Ventures, each of whom brings special capabilities to enable us to fulfill our vision of what truly real-time statistics and analytics can mean.”

Last February, CNBC reported ShotTracker signed up with a collaboration with sports marketing company Learfield IMG, which represents ShotTracker on the sponsorship market.

Before this financing round, the company raised more than $25 million from financiers, consisting of NBA legend Magic Johnson and previous NBA commissioner David Stern, who died last January.