ShotTracker, a Merriam company that specializes in basketball technology applications, has raised $5 million in capital, including contributions from former Los Angeles Lakers point guard Earvin “Magic” Johnson and former NBA commissioner David Stern.
Elysian Partners, Greycroft Partners, Sovereign’s Capital, IrishAngels, ward.ventures, R/GA and Service Provider Capital were also part of the investment in ShotTracker.
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ShotTracker manufactures sensors that record a player’s movements and reveal various performance statistics and analytics, ranging from player efficiency to shooting charts that depict how players fare by taking shots from various parts of the court.
“This new technology simplifies the assessment of performance that will have a major impact on young athletes' preparation and ultimately their basketball careers,” Johnson said in a statement.
Added Stern, who retired as NBA commissioner in 2014: “The game is evolving with incredible players like Steph Curry and Klay Thompson. Winning is now more about finesse than force, and teams must leverage everything in their arsenal in order to win. By making real-time stats affordable, teams everywhere will be able to identify and capitalize on every competitive advantage.”
ShotTracker’s latest investment round of funding comes in what appears to be a breakout year for the company. In January, the company announced it partnered with basketball equipment supplier Spalding to develop new basketball technology applications.
ShotTracker was founded by Bruce Ianni, formerly chief executive of the Innovadex online search engine, and Davyeon Ross, previously the chief executive of Digital Sports Ventures.
“Both of these legends are widely known as two of the biggest game changers this sport has ever seen, so we’re thrilled they have recognized (the) ShotTracker team and the impact it will have on basketball,” said Ross, chief operating officer of ShotTracker, in a written statement. “We’re focused on democratizing the use of analytics, making data reliable and available to teams everywhere.”