Expanding Performance Analysis Capabilities

Signality has been a prominent player in optical tracking data, working with leagues like MLS Next Pro and partnering with Spiideo to provide tracking solutions for Sweden’s top soccer leagues. The acquisition builds on several years of collaboration between the two companies.

“Adding Signality to the Spiideo portfolio is the next natural step in our journey. It’s basically more fuel for great sports experiences in these three areas for sports performance, officiating and automatic production,”

said Patrik Olsson, CEO of Spiideo.

The integration will initially be offered as an add-on package for Spiideo’s clients, but Olsson anticipates it becoming a standard feature across Spiideo’s platform in the future.

Broadening Reach Across Sports

Spiideo’s automated camera systems are installed in over 6,000 venues across 60 countries, serving teams in every major professional soccer league and 20 other sports. The company generates about half of its revenue from North America, with extensive use by collegiate teams and a league-wide deal with the National Women’s Soccer League (NWSL).

Signality, which has worked on projects in soccer, baseball, Australian football, and even wave pool surfing, will bring its expertise to Spiideo’s diverse client base. The combined technologies aim to enhance video analysis capabilities, providing coaches and analysts with detailed tracking data to improve player performance and game strategies.

Potential Expansion in the NWSL

While the NWSL currently lacks a league-wide tracking data partner, Patrik highlighted the potential for the combined Spiideo and Signality solution to fill that gap. “It’s a perfect league for this type of technology,” he said, though no formal agreements have been made yet.

A Strategic Move for Growth

The acquisition comes on the heels of Spiideo’s € 18 million funding round in June, underscoring its commitment to scaling operations and expanding its capabilities. The integration of Signality’s technology positions Spiideo to offer a more comprehensive suite of tools, aligning with broader trends in sports tech for enhanced video and data-driven solutions.

As sports organizations increasingly adopt technology to streamline performance analysis and officiating, Spiideo’s acquisition of Signality marks a significant step in setting new standards for automated sports video and data solutions.

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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.

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This year’s list has witnessed some 200 nominations of various companies from all over Sweden. Among the 33 finalists are seven companies from Southern Sweden, according to 8till5.

1. Acconeer – Lund-based startup that develops sensors for next generation portable devices. Acconeer was established in 2011. Estimated product launch is 2017.
2. Anima – Malmo-based company that makes smart watches and jewelry. Anima was established less than a year ago but has already raised 94 mln SEK (10 mln euro) from a Chinese company Goertek. The first collection of watches will be presented at the end of this year.
3. Mapillary – Malmo-based company that works wih crowdsourced map solution as an alternative to Google Maps. It is the 3rd time Mapillary lands among 33-listan companies. This year Mapillary also took in a 68 mln SEK (over 7 mln euro) investment to scale its operations.
4. Nattaro Labs – Lund-based company that develops products and services to prevent and combat bedbugs. The company was founded in 2011. Nattaro Labs has established a partnership with one of Germany’s largest distributors of pest control: PPS GmbH.
5. Orbital Systems – Malmo-based company that uses space technologies to reuse 90% of shower water and 80% of heat. It is the 2nd time Orbital Systems lands among the 33-listan companies.
6. Senzagen – Lund-based company that develops a technology for creating allergy tests without animal experiments. At the beginning of the year Senzagen signed an agreement with an international pharmaceutical company. It is the 2nd time Senzagen is on the 33-listan.
7. Spiideo – Malmo-based company that develops software for image analysis and a service for advanced video recording.

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