Hookit, a Solana Beach, CA-based sponsorship analytics and valuation platform, raised $16M in growth funding.
The round was led by Santa Monica, CA-based growth equity firm Arrowroot Capital, with participation from Bialla Ventures, Social Starts and existing private investors.
The company intends to use the funds to continue expanding its global reach, accelerate innovation of its platform and grow its team.
Led by Scott Tilton, Co-Founder and CEO, Hookit has developed a platform that effectively measures the sponsorship value that brands receive from athletes, teams, leagues, venues and events in social and digital media. It is now actively tracking nearly 500,000 sports entities across the largest social and digital media platforms, serving companies like Major League Soccer, Soccer United Marketing, Canadian Olympic Team, Monster Energy, GoPro, McLaren Honda F1, Kantar Media, Liverpool FC, PGA European Tour and World Surf League.
About Arrowroot Capital
Arrowroot Capital is a growth equity firm based in Santa Monica focused on growing and mature recurring-revenue software businesses. It seeks to partner with management to accelerate growth and help guide the company to its ultimate exit. Arrowroot targets equity investments in the range of $5 million to $25 million and has the flexibility to pursue larger opportunities. Learn more at www.arrowrootcapital.com.