Sportvision Scores $8 Million in Funding
November 3, 2006
Sportvision Inc., a privately held technology company in Chicago that provides computer-generated graphics enhancements for live sports telecasts, has received $8 million in funding from Escalate Capital Partners and Comerica Bank. The company said the money is designed to accelerate Sportvision's new product development and ongoing growth strategy.
ECP, a private structured finance firm with offices in Austin and Menlo Park, Calif., provided a $5 million credit facility. Comerica Bank, a subsidiary of Comerica Inc. in Detroit, has provided an additional $3 million credit facility.
Sportvision is known for developing the yellow first-and-ten line used during NFL football broadcasts, the "KZone" pitch tracking system in baseball broadcasts, and the "RACEf/x" system used in Fox Sports' coverage of NASCAR Nextel Cup and ABC Sports' coverage of the Indy Racing League.
"This increased funding is a major development for Sportvision, as the capital infusion from both Escalate Capital Partners and Comerica provides us with significant resources to continue enhancing sports and entertainment technology across a variety of platforms," said Hank Adams, CEO of Sportvision.