Irish sports tech company Kitman Labs raises € 45m in funding round



Irish sports technology company Kitman Labs has raised $ 52 million (€ 45 million) in a major new round of Series C funding led by Guggenheim Investments. The funding brings the total amount of fundraising by the company to date to $ 82 million.

Founded in 2012 in Dublin by Stephen Smith, Kitman works to reduce the risk of injury in professional sport by using artificial intelligence and data science to improve the health, well-being and performance of athletes.

Over 700 elite teams from NFL, NHL, Major League Baseball, NCAA college sports body in the United States, English Premier League, La Liga, Serie A, Bundesliga, Pro14, Premiership Rugby and Japanese Top League use Kitman’s technology platform. Customers include Chelsea, LA Galaxy and Bayer Leverkusen.

Kitman has been in expansion mode for the past few years, buying out both the office of sports and Presagia Sports. Last year it revealed its intention to double its workforce in the Republic to nearly 90 people with many new posts based in its Dublin Innovation Center.

Product development

Mr. Smith said the new funding will be used, in part, to continue to grow staff as well as accelerate product development.

“We are empowering teams to quickly transition to the new sports performance and talent strategy paradigm, characterized by bringing together data, people and processes.

“Our fully scalable sports operating system bridges the gap between legacy software, trackers and wearable devices, consolidating them into a centralized platform that creates real-time information that improves performance on and off the court. field, ”Smith said.

“With the support of Guggenheim Investments, we can scale the business faster to create the industry standard solution and accelerate continuous innovation to stay ahead of the demands of the rapidly changing sports market,” said he added.

Guggenheim Investments is a global asset investment and advisory firm with more than $ 259 billion in assets under management. Other Kitman backers include QVIDTVM, Blue Run Ventures, Sony, and a number of well-known Irish Angels. These include former Paddy Power executives, Patrick Kennedy, Stewart Kenny and Andrew Algeo; former managing partner of Arthur Cox Pádraig Ó Ríordáin and former rugby international Jamie Heaslip.



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