Hudl, the Lincoln-based industry leader in sports video analysis, on Thursday announced an investment from Bain Capital Tech Opportunities.
Financial terms of the investment were not announced; however, Bain is raising $1.1 billion to invest in growth-stage technology companies, according to CNBC.
Hudl CEO David Graff said the infusion of capital will "continue to allow us to accelerate." Its product is currently used by more than 6 million coaches and athletes in 139 countries. It cut its teeth with high school football but has expanded to dozens of other sports.
Partnering with Bain, which has a "huge portfolio and a lot of expertise," allows Hudl to expand on everything it has built since 2006, Graff said.
"Culturally, they align with us," he said. "... We built Hudl to meet the massive demand for a simple platform to record, share and analyze sports video. Partnering with Bain Capital and leveraging their vertical market software expertise and global network will allow us to invest aggressively in our products and services while further connecting teams around the world."
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Graff couldn't say how the new infusion of capital would be used or whether it would be invested domestically or in global markets, where Hudl has become a leader in the soccer market worldwide.
"We see huge opportunities both in the U.S. and globally," he said.Â
In addition to announcing the partnership with Bain, Hudl also named three new members to its board of directors.
Nick Drake, Google's vice president of global marketing, CMO platforms and ecosystems, was named to the board, as was Jodi Uecker and Endre Holen.
Uecker is the retiring COO for North Dakota Gov. Doug Burgum, while Holen has served as a top adviser for several large companies.