WSC Sports Technologies, which has developed an automatic, real-time, customizable platform to create video for sports broadcasts said Thursday it has completed a $12 million Series B round of financing.
The round was led by Intel Capital, with other investors including the owners of the Minnesota Vikings and the LA Dodgers and equity crowdfunding platform iAngels.
Intel Capital’s director Uri Arazy will join the WSC Sports board. The investment brings the Ramat Gan-based startup’s total funding to $16 million and will help the company “significantly accelerate growth and international expansion,” WSC said in a statement.
WSC Sports’ customers, including the NBA, Turner Sports, Big East Conference and the ELeague, use the company’s cloud-based product to automatically and in real time scan sports broadcasts, identify highlights and create and publish, in almost real time, short-form videos to digital and social media and fan apps.
The company said that “several other major deals with leading broadcasting and sports organizations are in the works.”
“Technology is reinventing the way people consume and interact with sports, adding compelling new dimensions to the game,” said Wendell Brooks, president of Intel Capital, the investment and M&A arm of Intel Corp. in the statement. “We see sports as a transformative area for investment. We’re pleased to work with WSC Sports as a leading innovator in generating new, large-scale video content to boost fan engagement.”
The deal adds to Intel Capital’s investments in Israel. The company said in August it was investing $25 million in three Israeli startups, bringing its total invested in Israel since 1997 to $345 million.
Intel Capital backs startups in the field of computing and smart devices, cloud, data center, security, the Internet of Things, wearable and robotic technologies and semiconductor manufacturing. Since 1991, Intel Capital has invested $11.7 billion in 1,457 companies in 57 countries.