Spiideo raises $20 million in funding round to expand product and AI teams

Spiideo has successfully completed a $20 million funding round led by Munich-based growth equity firm Cipio Partners. Existing investors, including Mathias Kamprad, Måns Hultman (Tassaka), and Håkan Roos (Roosgruppen), also participated in the round. Roland Dennert, managing partner of Cipio Partners, will join the Spiideo board.

SaaS company Spiideo is already generating half of its revenue in the North American market and will use this new investment to further accelerate innovation by expanding its product and AI teams, and drive growth through an expanded international sales team.

Spiideo’s products are installed in over 6,000 venues and used by more than 4,000 teams across English football’s Premier League, the NHL, NBA, Serie A, MLS, Ligue 1, NCAA, Liga MX and Bundesliga, as well as numerous second and third tier international leagues. Its cloud native cameras enable a range of automated production and analysis services.

Accelerated growth is being experienced in the utilisation of the Spiideo Play cloud-based broadcasting and live-streaming platform for media rights holders, leagues and clubs. Spiideo leverages AI automation to supply ‘TV-class’ production at previously unimaginable price points, enabling increased commercialisation of lower tier leagues and niche sports in an increasingly inflated media rights market. As the landscape of sports broadcasting changes and develops, Spiideo is leading the transformation in enabling more fans to watch and engage with the teams they follow, irrespective of their level or popularity.

Spiideo co-founder and CEO Patrik Olsson commented: “Spiideo is delighted to have Cipio Partners join our journey to 100% AI automation, resulting in a quantum leap in sports streaming and analysis. Sports video is undergoing a revolution, as traditional manual processes are rendered obsolete by the opportunities offered by AI, and this investment ensures that Spiideo continues to lead and shape this global industry transformation. With the rising cost of media rights, providing a cost-effective and scalable broadcasting solution is more critical than ever. Now with our trajectory accelerated, more teams, leagues and coaches – and ultimately fans – can enjoy the benefits of Spiideo’s technology than ever before.”

Roland Dennert, managing partner of Cipio Partners, said: “Spiideo has consistently displayed growth and development as a company, evolving its product suite to capitalise on market opportunities. This funding round aims to accelerate Spiideo’s next phase of growth, as it consolidates its position within major sports while unlocking the use and monetisation of entirely new content categories. We are excited to be part of this revolution, supporting the market leader in the global transition to automatic sports video production.”

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