Spiideo has successfully closed a $20 million funding round, spearheaded by Munich-based growth equity firm Cipio Partners. The round also saw participation from existing investors including Mathias Kamprad, Måns Hultman (Tassaka AB), and Håkan Roos (Roosgruppen AB). Roland Dennert, Managing Partner of Cipio Partners, will now be a part of Spiideo’s board.
As the global sports media rights market hits an unprecedented value of nearly $56 billion, SaaS company Spiideo is leading the shift from manual to automated sports video production through AI technology. The company, which already garners half of its revenue from the North American market, plans to use this fresh investment to boost innovation by enhancing its product and AI teams and expanding its international sales efforts.
Spiideo, a dominant force globally with a presence in over 60 countries, has its products installed in more than 6,000 venues and used by over 4,000 teams across various major leagues including the Premier League, NHL, NBA, Serie A, MLS, Ligue 1, NCAA, Liga MX, and Bundesliga, as well as numerous lower-tier leagues. Spiideo’s cloud-native cameras offer a variety of automated production and analysis services.
The company is experiencing rapid growth in the use of its ‘Spiideo Play’ platform, a cloud-based broadcasting and live-streaming service designed for media rights holders, leagues, and clubs. By leveraging AI automation, Spiideo delivers high-quality “TV-class” production at accessible price points, which allows for the commercial expansion of lower-tier leagues and niche sports in a highly competitive media rights market.
In addition to broadcasting, Spiideo’s ‘Spiideo Perform’ product – a cloud-based multi-angle sports video analysis tool with real-time game and player data – helps teams and players reach their full potential. This tool is trusted by top-tier clubs such as Brentford, Wolves, Inter Milan, LA Galaxy, and numerous women’s national soccer teams, including World Cup winners Spain, and all teams in the US National Women’s Soccer League (NWSL).
Spiideo, founded in 2012 in Malmö, Sweden, by CEO Patrik Olsson (former VP, Head of Software at Sony) and Chairman Örjan Johansson (co-founder of Bluetooth technology), is well-positioned to leverage the rapid adoption of AI in sports video production and analysis.
Cipio Partners, which has previously invested in companies like encrypted messaging service Wire, professional network ResearchGate, and reality capture and digital twin solutions leader NavVis, sees significant potential in Spiideo’s continued growth and innovation.
This funding comes after a year of remarkable achievements for Spiideo. In 2024, the company was named one of the Financial Times’ fastest-growing companies for the fourth year in a row. Additionally, Spiideo announced a new partnership to provide streaming services to ESPN’s Wide World of Sports, a massive multi-sport complex hosting up to 400 fixtures every weekend, and extended its long-standing relationship with the NWSL, equipping every stadium in the league with Spiideo AI camera systems.
Spiideo’s co-founder and CEO, Patrik Olsson, stated, “We are thrilled to have Cipio Partners join us on our journey towards full AI automation, which promises a quantum leap in sports streaming and analysis. The traditional manual methods in sports video are becoming obsolete, and this investment ensures Spiideo remains at the forefront of this global industry transformation. With media rights costs escalating, providing an affordable and scalable broadcasting solution is more critical than ever. This acceleration will allow more teams, leagues, coaches, and ultimately fans to benefit from Spiideo’s technology.”
Roland Dennert, Managing Partner of Cipio Partners, added, “Spiideo has shown remarkable growth and product development, positioning itself to seize market opportunities. This funding round aims to propel Spiideo’s next growth phase, consolidating its presence in major sports while exploring and monetizing new content categories. We are excited to support this revolution, aiding the market leader in the global shift to automated sports video production.”
