Kitman Labs Caps Year of Growth and Innovation with New Financing Round and Introduction of Outcome-Driven Analytics
Award-winning performance and health optimization company, Kitman Labs today announced its 2018 product, customer and leadership expansion and a new round of funding. The company received a total of $9M in new investment in 2018, including $4M in a Series B round from new and existing investors. Throughout the year, the funding supported accelerated growth in markets across the globe, the addition of five key leadership roles, and the rapid transformation of the company’s performance and health offerings, including the introduction of the industry’s first full-stack solution and outcome-driven analytics.
In conjunction with the latest round, the company welcomes Pete Kight as an investor. As a successful entrepreneur and investor with experience creating high-growth companies and leading market revolutions, including CheckFree, which drove the fintech charge and was acquired by Fiserv for $4.4B, Pete adds both strategic and operational prowess to the company.
“2018 has been a year of transformation and acceleration for Kitman Labs – from the new solutions and expanded value we deliver to teams, to the market success and geographic expansion we’ve had to the addition of people in key management and customer-facing positions – and we are well poised to advance our market leadership and market expansion in 2019,” said Stephen Smith, founder and CEO of Kitman Labs.”
In response to the new capabilities and the proven results, teams across the globe are turning to Kitman Labs to optimize their investment in players. After doubling customer growth last year and more than doubling revenue, the company has extended its leadership role in the market in 2018 with further expansion into the NHL, MLB, NCAA, MLS, Pro14, Premiership Rugby, Premiership Football, Bundesliga, Allsvenken, Eliteserien, NRL, Chinese Super League and the Japanese Top League.
Excitement by investors was driven by the company’s unique vision and its ability to execute on an aggressive product roadmap. In the last 12-18 months the company has steadily released new solutions that are fundamentally transforming the sports performance industry. The company’s continuous innovation efforts have have resulted in the industry’s only full stack performance offering and culminated in the introduction of the industry’s first outcome-driven analytics that link medical data, performance data and athlete data to unlock and quantify the real drivers of on-field success and injury. New solutions introduced include:
- The industry’s first and only outcome-driven analytics that link training to on field performance and injury and allow teams to focus on what matter most for performance, player development, and player availability
- Groundbreaking advancements in electronic medical records data collection to provide more granularity and context in relation to athlete health data to improve injury surveillance research and analytics
- An expanded partner ecosystem with new data integration partnerships with numerous global leading companies such as StatSports and FirstBeat
- Innovations in visualisations, reporting and real time customisation
- New Team Management capabilities to increase team organisation and communication
“The requirements for how teams use their data to achieve success have changed, and the market feedback on our latest solutions has been tremendous,” continued Smith. “We are the only company focused on what matters – the goals, plan and outcomes that teams want. We are the only company focused on answering teams hardest questions about performance and health. The insights we provide have been unparalleled, and the results tangible. The teams we partner with are reducing injuries by 30-50%, increasing performance and finishing higher in the table, and winning championships.”
To power the product and market expansion plans, the company expanded the management team with the addition of Jon Elvekrog as COO and Obie Oberoi as Chief Strategy Officer, and Daniel Burke to lead the company’s engineering efforts and expanded the customer-facing Performance Team to include John Dams in Australia and World-Cup Winning Performance Director Darcy Norman in the United States.
For further information, visit www.kitmanlabs.com or follow @KitmanLabs on Twitter and LinkedIN.
ABOUT KITMAN LABS
At Kitman Labs, we’re committed to the evolution of performance. Through advanced statistical analysis, rigorous scientific research and unparalleled industry experience, our system evaluates athletic injury with unprecedented precision and embodies the cutting edge of injury risk prevention technology. We’re committed to harnessing data enabling our users to find the true sources of injury and performance – and to intervene before injuries ever occur. Kitman Labs’ Athlete Optimisation System recently won the inaugural Performance Technology of the Year prize at the prestigious BT Sport Industry Awards 2018. The System is proving increasingly popular within elite sport because, for the first time ever, individual athletes’ data is processed in one place. This enables coaches and sports science staff to interpret all individual data via real-time, intelligent alerts to help them understand athletes with unprecedented precision, make informed decisions and gain a competitive edge.
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