DURHAM, NC – SportsMEDIA Technology Corp., which sells graphics, statistics and video enhancement solutions for sports broadcasts, has scored a $12.5 million funding from Vicente Capital Partners.

The company says it will use the money to grow its business through research and development, accelerate introducing new products and new markets and move its current products to a next generations software platform.

Durham-based SportsMEDIA anticipates its staff will grow by 20 percent by the end of 2010 and anticipates the same growth rate for 2011.

“Although SportsMEDIA has been profitable and growing since its inception 20 years ago, this injection of outside growth capital will help us to execute our corporate growth strategies at an accelerated pace,” said Gerard J. Hall, SportsMEDIA’s founder and chief executive officer.

SportsMEDIA will also grow its sales and marketing staff to pursue new markets beyond the sports broadcast industry for its current products offerings. The company’s says that technology has many useful applications in the entertainment, education, medical, retail and government markets.

Additionally, the company says it will explore the direct delivery of sports information to consumer platforms such as mobile devices. Growth will also occur as SportsMEDIA expands its footprint into new geographies globally.

The company’s clients have included major sports broadcast companies including ESPN/ABC, NBC, CBS, VERSUS, Turner and TNT as well as other regional and specialty sports networks. It has won 17 Emmy Awards.

Southeast Venture Conference, February 29 – March 1, 2012 at the Ritz Carlton in Tysons Corner, VA – Where Smart Money Meets Smart People.
www.seventure.org

© 2010, TechJournal South. All rights reserved.

Tags: Durham, financing, Gerald J. Hall, NC, SportsMEDIA Technologies, Vicente Capital Partners