SoftBank and CE Ventures Invest $10 Million in PlaySight, Extends Series C Funding to $21 Million
Release Date: April 25th, 2018
CRESSKILL, N.J., (April 25th, 2018) – PlaySight Interactive, a leading global sports technology company, is pleased today to announce today an extension of its Series C financing round to $21 million, welcoming new investors SoftBank Ventures Korea, a SoftBank Group early stage venture capital arm based in Seoul, and CE Ventures from Hong Kong.
Selected in both 2017 and 2018 by Fast Company as one of the “10 Most Innovative Companies in Sports,” PlaySight is driving change and innovation throughout all levels of sport. Its Smart technology is now utilized globally in over 20 countries and across 25 sports, including tennis, basketball, soccer, football and volleyball. PlaySight-powered teams include the 2015 and 2017 NBA Champion Golden State Warriors, the 2017 NCAA Champion North Carolina Tar Heels, over 50 NCAA tennis programs, the United States Tennis Association, and leading clubs, academies, federations and schools across the globe.
"PlaySight’s vision is to become the technology platform of choice used by the mass market of youth, amateur and professional sports," said Jay Choi of SoftBank Ventures Korea. "It is only a matter of time before all competitive sports will adopt video and connectivity solutions in their courts and arenas, and PlaySight offers the highest performance solution and innovative business models to suit customers of all types."
“Finding the right fit in a partner is of the utmost importance to us,” said PlaySight CEO Chen Shachar. “SoftBank Ventures Korea believes in our vision for bringing technology to all areas of sports. We’re focused on the athlete, but along the way we have created a platform that is providing tremendous value to teams, leagues, friends, family, fans and more. We’re rapidly connecting the entire sports ecosystem, whether it is through athletic improvement, automated content production, video assistant refereeing, or by simply making the experience more fun, challenging and engaging.”
PlaySight continues to both grow across a variety of sports and extend its platform deeper into existing verticals. With the new seven-year USTA partnership and current PlayFair pilot in college tennis, PlaySight has established itself as a clear technology leader in tennis globally.
And by expanding into new sports (including a new partnership with Ripken Baseball), the roll-out of SmartTracker technology for soccer and hockey, plus the accelerating growth in basketball and multisport schools and academies, PlaySight is now positioned for the explosive run that its strategic partners have envisioned.
About PlaySight Interactive:
Selected in 2017 and 2018 by Fast Company as one of the “10 Most Innovative Companies in Sport,” PlaySight’s SmartCourt technology leverages both multiangle video and proprietary analytics to improve on-court performance and connect the next generation of athletes. SmartCourts are powering the leading tennis federations, academies, clubs and nearly 50 NCAA programs across all three divisions.Outside of tennis, the company is also working with top high schools and professional teams across basketball, soccer and other sports including the 2015 and 2017 NBA Champion Golden State Warriors and the 2017 NCAA Basketball Champion North Carolina Tar Heels.
About SoftBank Ventures Korea:
Established in year 2000, SoftBank Ventures Korea is a venture capital arm of SoftBank Group based in Seoul, Korea. The SoftBank Group, is one of the largest technology and telecommunications corporations in the world, focused on mobile communications, broadband infrastructure, fixed-line telecommunications, and internet culture. To date, Softbank Ventures Korea has invested US$432 million across 220 startup companies.
About CE Ventures:
Established in 2015, CE Ventures is a venture capital fund that provides end-to-end support to its portfolio companies, leveraging its extensive relationships in Asia. CE Ventures has a strategic investment partnership with CreditEase, a world leading FinTech company headquartered in China, specializing in inclusive finance and wealth management, in addition to payment technology, marketplace lending, crowdfunding, robo-advisory, insurance technology and blockchain products and services.