Sports Production Tech Company Pixellot Gets $161 Million in Funding
PSG leads Series D with Israeli Secondary Fund
Pixellot, which make artificial intelligence-driven sports production and analytics software, said it completed a $161 million Series D round of funding.
The round was led by private equity inverter PSG, with existing investors including investor, Israeli Secondary Fund participating.
Pixellot said its software is designed to lower the cost of producing high-quality video coverage of sports for organizations ranging from professional leagues to youth sports groups. The company plans to use the money it raised to enhance its product and expand into new markets.
“In our view, the market for video production solutions in all levels of sports broadcasting, from grassroots to the professional leagues, is ripe for disruption,” said Alon Werber, CEO of Pixellot. “Pixellot’s field-proven systems are able to deliver this need to production teams worldwide, and with PSG’s partnership, we believe we will be positioned to maximize our reach and provide video streaming solutions to many more professional and amateur markets.”
Ronen Nir, managing director of PSG and Govind Ananda, a principal at PSG were added to Pixellot’s board of directors.
Liontree served as advisors to Pixellot.
“Following Pixellot’s strategic achievements, we are excited to partner with the company and help bring its leading AI-driven platform to untapped markets,” said Ronen Nir, managing director at PSG. “We are advocates for Alon and his team’s vision, and we believe the company’s ’land and expand‘ model positions the company well for its next phase of growth.” ■
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.