Montreal-based Sportlogiq, which has developed an AI-powered player tracking and sports analytics platform, has just raised a $5 million Series A funding round.
Sportlogiq’s funding round was led by Rho Canada Ventures and Anges Quebec Capital S.E.C. The round also saw participation from early investors Mark Cuban, TandemLaunch, and 12 other angel investors.
“This is a tremendously exciting time for AI, computer vision and machine learning.”
Sportlogiq’s analytics platform tracks and analyzes the location and movement of players in a game on the ice, court, or field using standard broadcast feeds. Sportlogiq said users can use the raw data about players to gain actionable insights about professional sports teams, as well as provide automated stories to broadcast media partners.
“This is a tremendously exciting time for AI, computer vision, and machine learning. We are fortunate to be working with some of the top researchers globally, ensuring that our technology remains ahead of the curve in a rapidly developing environment,” said Craig Buntin, co-founder and CEO of Sportlogiq and a former Olympic athlete.
“The response from our customers over the past two years has been incredible, and seeing that same response from our investors has been truly amazing. We are happy to welcome this new group of investors and look forward to the next phase of our team’s development.”
Sportlogiq plans to use the funding to continue commercializing its platform, and well as scale its real-time player tracking system. The company said that an investment group from Stockholm, Sweden — who also participated in the round — will help the company with business development in Europe.
Peter Wallén, a member of the Stockholm-based investment group, said the group will specifically provide “deep knowledge of the European market and support in bringing [Sportlogiq] product to soccer.”
“Sportlogiq has very quickly developed a leadership position in the fast-growing market for AI-powered sports analytics,” said Sean Brownlee, a partner at Rho Canada Ventures. “What Craig, Mehrsan and the team have developed over the last two years is impressive and we’re thrilled to be working together.”
Sportlogiq received a $1.7 million investment led by Tim Tokarsky in July 2015.