Kitman Labs, a company leading the way in athlete monitoring technology and performance optimization, recently announced a successful Series C funding round of $52 million. This funding brings Kitman Labs’ total funding to $74 million and sets the company up for continued growth and success.
In this article, we will explore what this funding means for Kitman Labs and their plans for the future.
Overview of Kitman Labs
Kitman Labs, a sports technology company, has raised $7.5 million in Series A funding to make it easier for elite athletes to stay fit and perform their best in competition. This new round of funding was led by MHS Capital and ForgePoint Capital, who have previously invested in Kitman’s seed round and helped the company grow. The new funds will help Kitman Labs expand operations across North America and Europe, improve their technology platform and develop strategic partnerships with professional teams.
Founded in 2012, Kitman Labs is the leading force behind Athlete Optimization Technology (AOT). This cloud-based software solution is designed to reduce or prevent injuries among elite athletes by tracking biometric data such as training load/recovery cycles, risk factors related to physical performance, sleep patterns and nutrition. Through AOT’s proprietary algorithms, coaches can gain meaningful insights into an athlete’s current state at any given time while addressing potential issues before they become more serious. Additionally, players can get personalised recommendations based on their physical fitness and nutrition needs.
For Kitman Labs, this investment means further team growth and more resources for product development and strengthening existing customer relationships. With goal of creating a healthier global sports world through technology-driven sport science insights, this latest injection of funds should help the company accelerate its march toward greater success in the coming years.
Summary of Series C funding
Kitman Labs has secured Series C funding of $30 million to further accelerate growth and expand their customer base. This round was led by Atomico, the venture capital fund founded by Niklas Zennström, the co-founder of Skype, with the participation of previous investors Greycroft Partners and Frontline Ventures.
This latest investment will help Kitman Labs to continue developing its powerful artificial intelligence-driven performance optimization platform for elite sports teams and organisations. With this new funding, Kitman Labs plans to support an even larger pool of customers who have placed trust in Kitman’s performance optimization suite across a range of sports categories — from amateur teams to professional leagues — because of its effectiveness for injury prevention and enhanced game performance.
Additionally, existing customers such as FC Barcelona, the Los Angeles Dodgers, Tampa Bay Lightning and dozens more teams around the globe will benefit from expanded features in 2020. Kitman Labs has also stated that funds will be allocated towards scaling technical operations globally to build new industry partnerships within Europe and North America.
Impact on Kitman Labs
Kitman Labs recently announced its successful closing of a $52 million Series C. This major funding source is a huge milestone for the company, having raised $80 million in venture capital.
This injection of capital will significantly impact Kitman Labs, creating opportunities for the company to explore and expand its capabilities.
Let’s dive deeper into what this new funding means for Kitman Labs.
Increased resources for research and development
The new funding for Kitman Labs will enable the company to grow and expand its research and development capabilities. With increased resources, Kitman Labs can enhance product features, develop innovations, and achieve technology superiority.
With the infusion of cash, Kitman Labs can hire more personnel dedicated to research and development. These new employees will bring fresh ideas and expertise in their respective fields, enabling the company to stay at the forefront of athletic production technology.
Moreover, improved financing allows Kitman Labs to dedicate a greater portion of its funds to technological advancement, leading to faster and more efficient research results that would likely take longer without increased resources. This could result in a sharper competitive edge, allowing them to create better products that benefit athletes worldwide. In addition, the money can also go towards marketing campaigns that spread awareness and help encourage even greater support for their initiatives.
Expansion of global reach
Kitman Labs recently secured additional funding, which is expected to positively impact the company’s operations. One of the key features of this new development is the expansion of its global reach. This will enable Kitman Labs to continue to innovate and increase its product range across international markets.
The additional capital investment strengthens Kitman Labs’ already strong position in the sports technology industry, allowing it to enhance its customer service capabilities, increase its presence in new markets and develop more technically advanced products.
The funds will be used to extend Kitman Labs’ existing portfolio of sports science products, which are being used by teams within professional football, rugby, cricket and Australian Rules football (AFL). They will also support the company’s research and development efforts to further advance technology related to athlete performance and well-being.
This will also assist in forging closer partnerships with major sporting organisations committed to ensuring comprehension between elite performance and their organisations’ goals for preventing injury, recovery and performance management. As a result, these relationships will provide opportunities for Kitman Labs to expand their existing offerings into other areas like youth sport teams or medically supervised exercise programs.
In summary, this latest injection of funds marks an important step forward for Kitman Labs as they continue on their mission of delivering superior insights into athletes’ health data worldwide through best-in-class analytics solutions coupled with product innovations that meet the needs of a wide range of stakeholders – from coaches through to front office executives – enabling them to make data-driven decisions that deliver optimal performance.
Access to new markets
Kitman Labs recently secured significant funding for their medical tech platform. The capital injection will allow the company to expand and reach new markets, increasing their already impressive client base.
This expansion not only increases their market penetration but, crucially, it also allows them to diversify their customer base in terms of geographical reach and industry verticals. In other words, they can provide services to businesses in a larger range of locations and target customers from different business sectors.
Furthermore, this funding opens up the possibility of greater collaboration between Kitman Labs and businesses within those markets by allowing them to bring additional resources, tools and expertise to offer more integrated solutions. This may come in the form of opportunities for partnerships and joint ventures with local companies or a deeper investment into research that may result in a more comprehensive offering for clients.
Ultimately, this increased access to new markets means that Kitman Labs will be able to increase both its top-line revenue and its bottom-line profitability – two key metrics that investors are always eager to see improve.
Kitman Labs Raises $52 Million in Series C
The news that Kitman Labs has raised a massive $52 Million in Series C funding is wonderful news for them and their customers.
This funding will help the company continue to develop their products and services, making them even more beneficial to customers.
Let’s look at what this funding means for customers of Kitman Labs.
Improved product features
Increased Kitman Labs funding will accelerate our product roadmap, meaning customers can benefit from improved features. For example, we can extend our current AI platform capabilities, introducing new machine learning algorithms for better accuracy and faster results.
In addition to increased data analysis speed and accuracy, customers will get access to more efficient tracking of athlete performance metrics and optimization suggestions tailored to individual athlete needs.
Our enhanced machine learning capabilities will allow us to provide granular insights on the effectiveness of specific training methods at the team level and automate certain processes such as scheduling team training sessions. Our vision is ultimately to maximise the performance potential of athletes by utilising AI-driven technologies for optimising their training plans and providing the relevant analytics necessary for them to reach peak performance levels.
Increased customer support
The additional funding that Kitman Labs has received will enable us to further invest in customer service and other areas to ensure we provide the best possible experience.
One big focus for us is offering more product support to our customers. We’re hiring more Customer Success Managers, who will be responsible for providing world-class service. They’ll be available through various channels — phone, email, and even remote screen-sharing — so customers can easily get help with their questions and issues as quickly as possible. In addition, we’re increasing our customer care hours by extending phone coverage during peak hours. This means customers will have immediate access to experienced technical support when needed.
The increased financial resources also allow us to build more robust documentation for our products and expand our Knowledge Base with helpful articles and video tutorials. As a result, customers can find the answers they need right away instead of waiting on hold or waiting in line at the store for help.
At Kitman Labs, customer experience is paramount to success in this competitive industry. The extra investments in customer service ensure that we deliver a seamless experience whenever you use our products or contact us with questions or issues.
Enhanced data security
Kitman Labs takes data security seriously, and this funding will allow our team to enhance our existing systems and technology. Data security is essential in the world of sports performance, as athletes put their trust in organisations like ours to keep their data safe and private.
To ensure enhanced data security, we plan to invest in a more robust implementation of encryption technologies and improved identity management systems. We are also dedicated to improving user experience by streamlining our authentication processes while protecting customer data with state-of-the-art defensive measures. The additional funding will allow us to ensure that customer data is securely stored, accessed, and processed at every stage of its lifecycle.
Future Outlook
Kitman Labs recently raised $52 Million in Series C funding. This is great news for the company and a testament to their success thus far. It will allow Kitman Labs to continue developing their machine learning and AI-based analytics and fund new initiatives.
With this extra capital, Kitman Labs can now look towards the future and what possibilities lie ahead for them.
Potential for further growth
Kitman Labs’ new funding round has allowed them to extend their team and provide further stability and opened up a range of new opportunities for further growth. With the substantial capital injection, Kitman Labs can now explore more global markets and focus on building products adapted to different geographical regions and implemented through a wider partner network.
Existing product lines will also benefit from the additional resources as Kitman Labs can now double-down on research and development, focusing on adding value to their current solutions and creating entirely new products. In addition, investment in workforce training will likely result in these areas seeing increased technical proficiency.
Data analysis and AI are also likely to see an increase in focus with this funding opportunity, allowing Kitman Labs to remain at the cutting edge of developments in these fields.
Overall, this injection of investment enables automation and fortifying versatile analytic solutions that can be applied within an incredibly wide range of contexts. Moreover, as Kitman’s mission is to “fulfil the promise of technology not only for elite performers and organisations, but across society”, this enhanced capability means they may be able to drive improved performance in some key sectors going forward.
Plans for new partnerships
Kitman Labs is elated by the $25 million in additional investments, as it allows for further opportunities across our product roadmap and with partners. In addition, these funds will expand and solidify our current partnerships and advance strategic relationships.
We are particularly excited about the potential this presents for developing new strategic partnerships. Since the series B funding round, we have had discussions with exciting potential partners who could positively influence our future growth. We plan to increase the pace at which we onboard new partners who could bring advanced capabilities to our platform. This could mean new opportunities in advanced analytics, research, streaming data services, AI/ML models and more.
In addition to investing in these partnerships, we plan on using this funding to continue enhancing existing features in our existing products and launching some exciting new ones that have been on the radar for some time now. Investments like this are incredibly important for start-ups like ours and allow us to continue pushing ahead with aggressive expansion plans while keeping customer satisfaction at the heart of what we do.
Expansion of product offerings
The recent funding announcement from Kitman Labs means that the company can now expand its product offerings. In addition, they plan to use the funds to increase their engineering teams to create additional technology-driven products to meet the needs of their customers.
The company will use the money to invest in innovative technologies, build a global customer service function, and stimulate growth in data science, machine learning, and natural language processing. This increased focus on artificial intelligence will improve injury prevention through improved player tracking and data analytics.
In addition, Kitman Labs plans on continuing its focus on data science-driven insights that drive decisions related to athlete health and performance. By exploring trends and underlying patterns from collected data, the team hopes to identify potentially useful abnormalities before injuries occur, for athletes’ injuries and illnesses can be better managed. By combining Injury Prevention Science Teams with Human Performance Science Teams overseen by surgeons and sport scientists who are experts in technology-driven insights for player health performance, Kitman Labs expects its enhanced capabilities will help revolutionise an athlete’s care needs over time as well as impact personalised medicine within sports across the world.
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Tech expert fresh from the Australian Coast. Been in the tech industry more than 9 years, as part of a Business Growth Group. His out of office days are 100% for freestyle surfing and waves chasing.
