Calfornia based investment firm Shamrock Capital has led an investment round in Pixellot, to help the company expand the market for its automated AI-based sports production technology. Following this round of investment, Pixellot has raised more than $40 million over the past five years. While transaction terms were not disclosed, existing Pixellot investors also joined Shamrock in the round.
Pixellot is targeting the almost 99% of organized sports competitions which aren’t produced for broadcast. Due to the high costs of producing events with live camera crews only professional leagues of popular sports such as baseball, basketball, and football get TV coverage. Amateur leagues and niche pro sports like volleyball and handball, as well as women’s and youth sports, represent an enormous opportunity to deliver content to fans, coaches, parents and scouts. Advancements in production technology and the demand for content for social media and OTT viewing have created a significant opportunity.
Pixellot technology enables sports organizations to automatically produce and monetize athletic events at an affordable price point. Using computer-vision AI algorithms, the technology dynamically tracks on-field action, providing viewers a seamless, professional-quality experience that includes automated highlights, remote/local commentary, scoreboard and professional graphics.
“Pixellot’s unparalleled technology is not only compelling for broadcasters, but is also already being utilized by 1,000 U.S. high schools and youth sports organizations as a new revenue stream and a value-added service for their parents and players,” said Alan Resnikoff, Partner at Shamrock Capital. “We are excited to partner with Pixellot’s top-notch executive team to support their continued growth.”
Production companies, sports portals, sports federations, leagues, clubs, and coaches across the U.S., Europe, Asia, and Latin America are using Pixellot systems to reach new audiences and fine-tune player and team performance. Broadcasters are able to produce more games less expensively, and coaches can utilize footage produced by Pixellot’s technology as part of their training.
Pixellot has sold more than 2,500 systems worldwide and produces 20,000 hours of sports content every month. The company also provides video coaching solutions that are used by the top soccer clubs in the English Premier league, La Liga, LigaMX and the Bundesliga.
"Given Shamrock's experience in sports and entertainment, we are very pleased to welcome them as an investor," said Alon Werber, CEO of Pixellot. "Pixellot is poised for growth as we continue to connect fans to the field and provide them with innovative ways to share, distribute and monetize their content. Shamrock's knowledge and relationships in the sports ecosystem will be invaluable to us. In addition, I’d like to thank our existing shareholders, primarily Firstime Ventures and TheTime, for their continued and ongoing support and backing from our early days.”
Werber and Peter Schon, CFO, of Pixellot, led the investment round on Pixellot’s behalf. Cooley LLP served as legal advisor to Shamrock. Shamrock’s current investments include Appetize, Branded Cities, BTI Studios, FanDuel, Maple Media, Mobilitie, Omega Wireless, Screenvision Media, Silvergate Media and Wpromote.