Pixellot Raises $161 Million With A Goal To Accelerate Sports Democratization
Pixellot announced today it has completed a $161 million funding round led by PSG, a leading growth equity firm partnering with software and technology-enabled services companies to help accelerate their growth, with the participation of existing investor Israeli Secondary Fund (ISF). The round also includes secondary capital from existing investors. As part of the transaction, Ronen Nir, Managing Director at PSG, and Govind Anand, Principal at PSG, have both joined Pixellot’s Board of Directors.
Pixellot’s AI-automated video production and analytics technology enables a fully automated end-to-end solution that includes capturing, producing, broadcasting and data analytics. Pixellot’s AI-powered cameras and automated video production solutions allow high-quality video coverage of sports at a fraction of the cost. This affordable alternative to the traditionally manually-intensive and expensive video capture process simplifies video production and distribution for sports leagues ranging from professional to youth sports organizations – allowing for greater utilization of sports media distribution. Pixellot supports 17 types of team sports and has deployed its systems at 23,000 courts and venues across 70 countries and produces upwards of 350,000 hours of live sports each month.
Pixellot intends to use the funds to support its global market expansion and to enhance its video, analytics and highlights value proposition to fans, athletes and coaches at all levels. With this planned expansion of services, Pixellot believes it is well-positioned to expedite its expansion into new territories and verticals, such as Asia, Latin America and the global youth markets.
“Following Pixellot’s strategic achievements, we are excited to partner with the company and help bring its leading AI-driven platform to untapped markets,” said Ronen Nir, Managing Director at PSG. “We are advocates for Alon and his team’s vision, and we believe the company’s ’land and expand‘ model positions the company well for its next phase of growth.”
“In our view, the market for video production solutions in all levels of sports broadcasting, from grassroots to the professional leagues, is ripe for disruption,” said Alon Werber, CEO of Pixellot. “Pixellot’s field-proven systems are able to deliver this need to production teams worldwide, and with PSG’s partnership, we believe we will be positioned to maximize our reach and provide video streaming solutions to many more professional and amateur markets.”