Israeli sports tech co PlaySight raises $11m

NBA Photo: Reuters

The round was led by strategic investors Verizon Ventures, golfer Greg Norman and his business partner David Chessler.

Israeli sports technology company PlaySight has raised $11 million in a financing round led by strategic investors Verizon Ventures, golfer Greg Norman and his business partner David Chessler.

Founded by Israeli military veterans CEO Chen Shachar and Evgeni Khazanov, PlaySight is connecting the next generation of athletes on its global sports SmartCourt platform. The new funds will help the startup in its global SmartCourt expansion and roll-out of its cutting-edge technology into new sports verticals. The company is headquartered in New York with its development office in Kfar Saba.

Previous investors have included tennis players Novak Djokovic and Billie Jean King as well as D5 Capital, Bill Ackman, Mark Ein, Dr. James Loehr, and Ray Benton.

PlaySight leverages both multi-angle video and proprietary analytics to improve on-field performance and connect the next generation of athletes. The company has already achieved a dominant position in the tennis marketplace with its technology powering the leading federations, academies, clubs and over 40 NCAA tennis programs, as well as the USTA’s new National Campus and high performance facility in Lake Nona, Florida. PlaySight is also working with top teams across several other sports including the 2015 NBA Champion Golden State Warriors.

Shachar said, “We place high value on the right strategic partners and are very excited to announce the investment from Verizon Ventures and Greg Norman as they assist in our growth and disruption in the sports world. We are connecting courts, fields, arenas and athletes all over the world through our technology and, just like our new partners, we are changing how sports are played and consumed.”

Norman said, “PlaySight is on the forefront of technology innovations in sport and I am thrilled to be a part of something so cutting-edge in the industry. Both PlaySight and Verizon Ventures share my vision to connect people across business, sport and culture, so this partnership is something I look forward dedicating my time to.”

“Sophisticated video, analytics and media solutions once reserved for professional athletes and teams are now becoming accessible to the masses,” said David Famolari, Director at Verizon Ventures. “By leveraging a network of intelligent cameras, PlaySight's cloud-based video and analytics platform transforms every sports field, court and gym into a smart, connected space and helps athletes of all levels train smarter. We look forward to supporting PlaySight’s growth as the team continues to give facilities, coaches, recreational and youth athletes access to advanced sports technology.”

Published by Globes [online], Israel business news - www.globes-online.com - on June 2, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

Published by Globes [online], Israel business news - www.globes-online.com - on June 2, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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NBA Photo: Reuters
NBA Photo: Reuters
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