Spiideo announced the successful completion of a $20 million funding round led by Munich-based growth investment firm Cipio Partners. Matthias Kamprad, Mance Furtmann (Tasaka AB), and Håkan Roos (Roosgruppen AB) also participated in the round. Roland Dennert, Managing Partner at Cipio Partners, will join Spiideo's Board of Directors.
With the global value of sports media rights reaching an all-time high of approximately $56 billion, SaaS company Spiideo is at the forefront of transforming sports video from manual to automated using AI. The company already generates half of its revenue in the North American market and will use this new investment to further accelerate innovation by expanding its product and AI teams, and drive growth through an expanded international sales team.
Spiideo is already a global market leader, operating in over 60 countries. Its products are installed in over 6,000 venues and used by over 4,000 teams in the English Football Premier League, NHL, NBA, Serie A, MLS, Ligue 1, NCAA, Liga MX, Bundesliga and numerous second and third division leagues. Spiideo's cloud-native cameras enable a range of automated production and analytics services.
Spiideo's “Spiideo Play” cloud-based broadcasting and livestreaming platform is seeing accelerated growth in usage for media rights holders, leagues and clubs. Leveraging AI automation, Spiideo is delivering “TV class” production at previously unimaginable prices, facilitating the commercialization of lower leagues and niche sports in the ever-expanding media rights market.
Spiideo's “Spiideo Perform” product is a cloud-based, multi-angle sports video analysis tool with production and live streaming capabilities, as well as live game and player data to maximize teams and players' potential. It is trusted by elite clubs such as Brentford, Wolves, Inter Milan, LA Galaxy, World Cup winning teams, numerous women's national soccer teams including Spain, and all teams in the United States Women's Soccer League (NWSL).
Spiideo, an AI-native company, is well positioned to capitalize on the rapid AI transition in the sports video production and analytics industry. Spiideo was co-founded in 2012 and is based in Malmö, Sweden. CEO Patrick Olson (former Sony vice president and head of the software division) and chairman, Orjan Johansson (Bluetooth co-founder and chief developer).
Cipio Partners' previous investments include Wire, an encrypted messaging service, Research Gate, the leading professional network for scientists and researchers, and NavVis, a global leader in end-to-end solutions for reality capture and digital twins.
The funding comes after a year of rapid growth and milestones for Spiideo, which was named one of the Financial Times' Fastest Growing Companies for the fourth consecutive year in 2024. Spiideo also announced a new partnership to provide streaming services to ESPN's Wide World of Sports, a 220-acre multi-sport complex hosting up to 400 matches every weekend, and an expansion and renewal of its long-standing relationship with the National Women's Soccer League (NWSL) in the US, to provide Spiideo AI camera systems in all of the league's stadiums.
Patrik Olsson, co-founder and CEO of Spiideo, commented, “Spiideo is thrilled that Cipio Partners has joined our journey towards 100% AI automation, dramatically advancing sports streaming and analytics. Sports video is in the midst of a revolution, with traditional manual processes being rendered obsolete by the opportunities presented by AI. This investment will enable Spiideo to continue to lead and shape the transformation of this global industry. With the rising cost of media rights, it is more important than ever to provide cost-effective and scalable broadcast solutions. Our accelerated trajectory will enable more teams, leagues, coaches and ultimately fans than ever before to enjoy the benefits of Spiideo's technology.”
Roland Dennert, Managing Partner at Cipio Partners Comment: “Spiideo has consistently demonstrated growth and development as a company, evolving its product suite to capitalize on market opportunities. This funding round aims to accelerate the next stage of growth for Spiideo by solidifying its position in major sports and enabling the use and monetization of entirely new content categories. We are excited to be part of this revolution and support the market leader in the global transition to automating sports video production.”
