SportsMEDIA Technology Corporation, a Durham, NC-based provider of graphics, statistics and video enhancement solutions for sports broadcasts, has secured $12.5m in growth capital funding from Vicente Capital Partners.
The company will use the funding to grow its business by dedicating research and development resources to accelerate the introduction of new products, to migrate its current products to its new software platform, and to expand into new markets.
SportsMEDIA will also grow its sales and marketing staff and explore the direct delivery of sports information to consumer platforms such as mobile devices.
Following the investment, Vicente Capital Partners will have a minority investment in the company. Gerard J. Hall will continue to serve as CEO.
SportsMEDIA Technology Corporation provides its products and services to live television sports broadcast networks including ESPN/ABC, NBC, CBS, VERSUS, Turner and TNT as well as other regional and specialty sports networks.