Global expansion planned as Pixellot secures $30m in funding round
Israel’s Pixellot is planning to take its automated artificial intelligence (AI)-based sports production technology to other parts of the world after securing $30m (£23m) in its latest funding round.
Shamrock Capital, a Los Angeles-based investment firm, led the investment which also includes current investors Firstime Ventures and TheTime. No transaction terms were disclosed.
Following this latest round of investment, Pixellot has now raised more than $40 million over a five year period. Pixellot currently has offices in New York, Madrid and Tokyo as well as Petah Tikva in Israel.
Pixellot chief executive Alon Werber said: “Pixellot is poised for growth as we continue to connect fans to the field and provide them with innovative ways to share, distribute and monetise their content. Shamrock’s knowledge and relationships in the sports ecosystem will be invaluable to us.”
Pixellot’s technology allows sports organisations to automatically produce and monetise their events at what it describes as an “affordable price point.”
The company’s offerings use computer-vision AI algorithms to dynamically track on-field action to aid with the production of automated highlights, remote/local commentary, scoreboards 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, a partner at Shamrock Capital.
Pixellot says it has sold more than 2,500 systems worldwide and produces 20,000 hours of sports content every month. The company also provides video coaching products that are used by football clubs in the English Premier League, La Liga and the Bundesliga.
Werber and Peter Schon, chief financial officer Pixellot, led the investment round on Pixellot’s behalf. Cooley LLP served as legal advisor to Shamrock.