NBA’s Robinson, Dolphins’ Ross Invest in Sports Analysis Firmby
Krossover will use $20 million round to grow video technology
Cavs owner Gilbert, Lyrical’s Keswin among other investors
Basketball hall-of-famer David Robinson’s private equity fund is investing alongside Miami Dolphins owner Steve Ross in a sports statistics company that analyzes game videos for teams, coaches and recruiters in multiple sports and at all levels of competition.
Robinson’s Admiral Capital Group is among the investors in New York-based Krossover, which closed a $20 million Series B round led by Ross’s RSE Ventures, an earlier investor as well. Other backers are Cleveland Cavaliers owner and Quicken Loans Inc. founder Dan Gilbert and Lyrical Partners’s Jeff Keswin, who founded Greenlight Capital with David Einhorn.
The five-year-old company’s basketball clients include newly minted NCAA champion Villanova as well as the University of Kentucky’s men’s team, which was a first-time customer in its 2012 title season. University of Denver’s men’s lacrosse team also used Krossover’s service during last season’s championship run.
The new capital will be used to enhance its video technology, founder Vasu Kulkarni said. Among Krossover’s products is a basketball video clip service in which the company tags players to specific plays in which they were involved. It also has tools for parents of players and for recruiters, who can receive video and statistics of players they’re tracking. Ross’s Dolphins used the company’s sports aptitude test, called Krossover SIQ, during the National Football League Scouting Combine.
Co-founded four years ago by Ross and Matt Higgins, a former New York Jets executive, RSE’s portfolio of investments includes a drone racing league, event production company, sports marketing agency and media rights consultancy.