Krossover Intelligence, the leading sports film analysis and statistics company, announced today a $20M Series B round of financing. The funding was led by RSE Ventures, a multi-national sports and entertainment venture firm co-founded by Matt Higgins and Dolphins owner Stephen M. Ross, with additional participation from Dan Gilbert, Founder and Chairman of Quicken Loans and Rock Ventures, Jeff Keswin, Managing Partner of Lyrical Partners, and the Admiral Capital Group. The investment will be used to support Krossover’s ongoing efforts to develop innovative video technology that helps coaches and athletes gain a better understanding of their sport.
Krossover is a New York City-based sports analytics software company that builds video and data management tools for sports teams at all levels of play. Their customers range from small high schools all the way up to professional sports teams. Launched in 2010, Krossover has worked with more than 10,000 sports teams in more than 20 countries, providing coaches and athletes with valuable insight in the form of searchable video clips, advanced analytics, and data visualizations.
“The fast adoption of our technology by sports teams and strong support from the investment community is proof of our mission to make coaches and athletes more data driven.” said Vasu Kulkarni, founder and CEO of Krossover. “The teams that use Krossover continue to be more prepared, make better decisions and, as a result, have better records than their competition. It is truly gratifying to see high school and college athletes play smarter as a result of the time they spend on our platform.”
"RSE Ventures recognized the immense potential and groundbreaking nature of Krossover," said Matt Higgins, co-founder and CEO of RSE Ventures, the lead investor in the round. "Krossover is at the forefront of providing new, analytical data to players, coaches and teams at every level of athletics. RSE Ventures is always looking for new investments that are at the cutting of edge of sports and technology and Krossover aligns perfectly with that mission. We are thrilled to lead this round and look forward to the future of the company."
After analyzing nearly 50,000,000 possessions in 14,000,000 minutes of footage over a span of 350,000 games, Krossover has developed a comprehensive understanding of on-field trends at every level of sport, and now boasts the world’s largest database of searchable game film.
Krossover’s cloud-based platform means that users are able to access their content from any device, filtering through clips by selecting a specific set of criteria such as players, shots, turnovers, second-chance points, out-of-bound plays and much more. Part of the company’s innovative approach is integrating statistics with the video itself, which allows them to provide interactive data visualizations like shot charts, tendency reports and heat maps derived from the performance of a particular team or player.
Krossover, a New York City-based startup, provides sophisticated data analytics technology to the sports world. With an intuitive online platform easily accessible by thousands of high school and college programs, Krossover enables coaches to use video to improve the success of their athletic programs by eliminating the time and financial impediments to managing their filmed content. With an estimated 95% of high school and college athletic programs now recording game video, Krossover is accelerating the use of indexed, on-demand video content and advanced analytics by programs of all sizes. For more information, visit Krossover.com or follow @Krossovr on Twitter.
About RSE Ventures
Founded in 2012 by Stephen M. Ross and Matt Higgins, RSE Ventures is a multi-national sports and entertainment venture firm with a focus on new technologies. RSE builds, owns and operates companies in sports, media, entertainment and technology, including the Miami Dolphins, Vayner/RSE, Relevent Sports, Ascendent Sports Group and the International Champions Cup.
About Admiral Capital Group
Admiral Capital Group was founded by David Robinson, philanthropist and NBA Hall of Famer, and Daniel Bassichis, formerly of Goldman Sachs. The Admiral founders have also pledged 10% of their profits to philanthropic causes in areas where the fund invests, building on Robinson's lifetime commitment to support education and lower income communities. For more information, visit www.admiralcg.com.
About Lyrical Partners
Founded in 2004 by Jeff Keswin, New York City-based Lyrical and its affiliates invest in and manage over $5 billion in private equity, real estate, traditional equity, and hedge funds.