WINSTON SALEM – F5 Sports, Inc., a sports technology firm based out of Winston-Salem, is scaling quickly after landing $2.1 million in seed round funding. To lead the charge, it has also tapped the former CEO of Prsonas, David Rose, as its new chief executive officer.
Founded in 2017, the startup transforms data from body movement into “real-time, actionable insights.” It has already released its pitchLogic ball and mobile app that enables baseball players at all levels to develop proper throwing mechanics faster and reduce the risk of injury.
The app is currently being used by pitchers from all 30 MLB teams, it said.
Source: F5 Sports
“We are very pleased with the success of our fundraising efforts to fuel growth and to have David Rose join the company as CEO,” said its founder and president David Rankin, in a release.
“We are still in the early innings of demonstrating what our technology can do, but with the enthusiastic response we have received so far, this is the right time for F5 Sports to raise capital and hire someone of David’s caliber to help drive the growth of the company.”
F5 Sports said it intends to use the funding to accelerate product development and scale up marketing and operations. It is currently developing more “advanced capabilities and user experiences” in throwing situations beyond the bullpen.
Thirty-three investors contributed to the round, which opened June 15 and required a minimum investment of $10,000 from any outside investor, according to a recent securities filing.
