Conshohocken-based VC firm SeventySix Capital announced Wednesday that it invested in Pittsburgh’s Diamond Kinetics in a deal led by partner Ryan Howard, who’s a former Phillies slugger.
The company makes a set of motion capture tools that help baseball and softball players use data analytics to improve their swings and pitches. Its team of 22 is mostly in Pittsburgh, though it has a business development manager in the Philly area.
The amount of the investment was not immediately disclosed, though a spokesperson for the firm said it was somewhere between $250,000 and $1 million. Since its founding in 2013, the company has raised over $6 million in venture capital, according to SEC documents.
“They’re known as the most precise data-driven player development tool in the game,” Howard says in a video announcing the investment. “And from the lens of both a player and a parent, I’m confident that Diamond Kinetics is the future of baseball.”
— Diamond Kinetics (@DiamondKinetics) February 20, 2019
Per a press release, the company will use the funding to enhance its sensors, “smart balls” and mobile apps.
Previous investors in the company include Pittsburgh Pirates owner Bob Nutting and former Pittsburgh Steeler Troy Polamalu.
In 2017, SeventySix Capital announced the initial close of a $10 million fund aimed at sports tech startups. Last year it backed esports tournament organizer N3rd St. Gamers and Conshohocken-based Play by Play Sports Broadcasting Camps.
Philadelphia is having its best year for VC deals since 2000
Investor Paul Martino’s new side hustle is … movie producer?
These startups won big money at PACT’s live, ‘Shark Tank’-like pitch event
How Relay is helping enterprise clients get proactive about customer engagement
Money Moves: These 5 Philly-area companies just raised millions in VC funding
A women-focused sports newsletter startup is launching its first US edition in Philly
You can make a literal elevator pitch to Robin Hood Ventures investors
These hiring companies want to meet you at NET/WORK Suburbs
Sign-up for daily news updates from Technical.ly Philadelphia