Spiideo, a provider of AI-automated sports video technology, has announced a significant €18 million ($20 million) growth funding round led by Munich-based Cipio Partners. This new investment will bolster Spiideo’s role in transforming sports broadcasting from traditional manual methods to cutting-edge automatic processes using artificial intelligence.

Founded in Malmö in 2012 by Patrik Olsson and Örjan Johansson, Spiideo has become a key player in the sports tech landscape, with their solutions now being used in over 6,000 venues across more than 60 countries. The company’s AI-driven products have made inroads in major leagues including the NHL, NBA, and Premier League, demonstrating the effectiveness of its technology.

Utilization of Funds

The fresh capital from Cipio Partners, along with continued support from existing investors such as Mathias Kamprad and Håkan Roos, will enable Spiideo to further develop its AI capabilities and expand its product and sales teams. The funding will also enhance Spiideo’s market presence, particularly in North America, where it already generates half of its revenue.

Spiideo’s ‘Spiideo Play’ platform, which offers cloud-based broadcasting and live-streaming services, and ‘Spiideo Perform’, a multi-angle video analysis tool, are set to benefit from this investment. These platforms are revolutionizing how sports organizations, from elite clubs to niche leagues, leverage video for performance analysis and fan engagement.

Industry Impact and Vision

Spiideo’s technology not only enhances how games are filmed and analyzed but also makes sports more accessible to fans, regardless of the popularity of the sport or league. The technology ensures high-quality broadcast capabilities at cost-effective price points, addressing the rising costs of media rights and the commercialization challenges of smaller sports entities.

“Spiideo has consistently shown robust growth and product innovation. This funding round is aimed at accelerating Spiideo’s expansion as it strengthens its footprint in major sports while tapping into new content categories. We are thrilled to support the market leader in this transformative phase.”

says Roland Dennert, Managing Partner of Cipio Partners

Continued Growth and Strategic Partnerships

In 2024, Spiideo was named one of the Financial Times’ fastest-growing companies for the fourth consecutive year, underscoring its rapid growth and innovation in the sports technology sector. The company also announced new and extended partnerships, including a significant deal with ESPN’s Wide World of Sports and the renewal of its contract with the National Women’s Soccer League (NWSL), equipping every stadium in the league with Spiideo’s AI camera systems.

“This investment is a pivotal step towards achieving 100% AI automation in sports streaming and analysis. As the sports video landscape evolves, Spiideo is at the forefront, ensuring that teams, leagues, and fans worldwide benefit from our advanced, cost-efficient solutions.”

says Patrik Olsson, Spiideo’s CEO

As Spiideo continues to innovate and lead in the sports tech industry, this latest round of funding marks a significant milestone, setting the stage for further technological advancements and global expansion.