KITMAN LABS RAISES $52M TO REDEFINE HOW SPORTS INDUSTRY USES DATA TO DRIVE PERFORMANCE
Guggenheim Investments Leads Round; Sports Industry Prepares for Unprecedented Athlete Data Growth
MENLO PARK, CALIF. – November 4, 2021 – Kitman Labs, the sports technology and analytics company setting a new industry standard for how elite sports organizations use data and operate, today announced the close of a $52M investment round led by Guggenheim Investments (on behalf of certain of its managed accounts), a global asset investment and advisory firm with more than $259 billion* in assets under management. The latest investment brings Kitman Labs’ total outside funding to $82M.
Elite sports leagues and teams are collecting record amounts of player data from wearables, tracking systems, and legacy point solutions often used by a single department. On average, 2.5 million data points per athlete will be gathered this year. By 2025, that number is expected to increase to 230 million data points per athlete — a staggering increase of over 9,000%. With this influx, organizations around the globe are currently faced with the challenge of finding meaningful insights in this data that can be shared by the entire organization. Kitman Labs has created an operating system for sport that enables organizations to consolidate and transform data from point solutions into actionable, team-specific insights with advanced analytics that guide collaborative decisions about talent strategies, performance, health and safety, and youth development.
“We are empowering teams to move quickly into the new paradigm for sports performance and talent strategy, characterized by bringing together data, people and processes. Our fully-scalable operating system for sport bridges the gap between legacy software, trackers and wearables, consolidating them into one centralized platform that creates real-time insights that improve performance on and off the field,” said Stephen Smith, founder and CEO, Kitman Labs. “With the support of Guggenheim Investments, we can scale the company faster to create the industry standard solution and accelerate ongoing innovation to stay ahead of the rapidly changing market requirements in sport.”
“We are happy to help Kitman Labs in its mission to become the must-have operating system in the sports industry, as data and collaborative operating models have become the new strategic imperative,” said Rory Twomey, Vice President at Guggenheim Investments. “Given their customer growth in the last year, it’s clear the market demand for this new way of operating is accelerating and we have confidence in Kitman Labs’ vision and the unique ability of the team to innovate and capitalize on the significant opportunity ahead of them.”
Kitman Labs will leverage the new capital in three specific ways:
- Investment in data science and development of its platform to help teams consolidate more data from across their organization into a single platform, improve and automate workflows for all departments in a sports team, and turn data into powerful intelligence.
- Growth of the global team to accelerate product development and continue the growth of the domain experts that understand the unique challenges of a team environment and help to tailor their platform and insight based on each team’s style of play, system and goals. Following a year of 56% growth in global headcount, grow its current team of 125 by 100 people, an 80% increase in the size of the company.
- Furthering its industry-leading research effort to help sports, medical and technology professionals better understand the power of data in sport.
In the last two years, Kitman Labs acquired The Sports Office and Presagia Sports, creating the industry’s largest dataset of talent, performance, and medical data for all stages of the athlete lifecycle. Kitman Labs will expand its focus beyond sports in 2022 to include the military and government service category, given the myriad parallels in human performance requirements.
About Kitman Labs
Kitman Labs is the operating system for elite sports teams. Founded in 2012 with the vision to fundamentally change how the sports industry uses data to achieve on and off-field success, Kitman Labs has consistently set the standard for innovation, data integration, design, and analytics. With over 50 Performance Experts with backgrounds in coaching, medical, sports science, and data science, Kitman Labs provides unparalleled expertise and support. Over 700 elite teams across the NFL, NHL, MLB, NCAA, English Premier League, La Liga, Serie A Bundesliga, Pro14, Premiership Rugby, and Japan’s Top League use the company’s technology. The company has a presence in the United States, Ireland, United Kingdom, Central Europe, Australia and Japan. For more information visit: https://www.kitmanlabs.com/.
About Guggenheim Investments
Guggenheim Investments is the global asset management and investment advisory division of Guggenheim Partners with more than $259 billion* in total assets across fixed income, equity, and alternative strategies. We focus on the return and risk needs of insurance companies, corporate and public pension funds, sovereign wealth funds, endowments and foundations, wealth managers, and high-net-worth investors.
*Guggenheim Investments assets under management as of 09/30/2021.The assets include leverage of $17.9 billion. Guggenheim Investments represents the following affiliated investment management businesses of Guggenheim Partners, LLC: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Corporate Funding, LLC, Guggenheim Partners Europe Limited, Guggenheim Partners Fund Management (Europe) Limited, Guggenheim Partners Japan Limited, GS GAMMA Advisors, LLC, and Guggenheim Partners India Management. Securities offered through Guggenheim Funds Distributors, LLC. Guggenheim Partners Europe Limited is regulated by the Central Bank of Ireland.