WINSTON-SALEM – The sports technology firm F5 Sports has closed more than $1.4 million in new equity funding from 11 investors, according to an SEC filing.
And more could be coming, Jeffrey Ackerman, the Winston-Salem-based startup’s CEO, told WRAL TechWire Monday.
“The round is still open,” Ackerman confirmed to WRAL TechWire.
According to the filing, the firm has raised $1,419,981 as of the filing date, March 18, and the total offering amount is $2,119,984, meaning the company could add a little more than $700,000 in additional funding to the round.
The company previously raised $2.1 million in equity, closing that round in June 2021.
According to the company, its technology is used by pitchers from all 30 major league baseball teams. The technology is called pitchLogic, which the company’s website describes as “places all of the insights of a large scale professional pitch metrics lab into the hands of amateurs and pro players alike.”
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Behind the tech
“Every pitch has an ideal profile when it comes to the science of baseball,” the website reads. “By using the pitchLogic System, we can help players refine their form in order to better align with the ideal.”
The standard pitchLogic ball, when thrown, automatically delivers 13 key metrics to a corresponding mobile application. There are additional trackable metrics in different versions of the pitchLogic technology, the company website notes.
But the standard metrics the technology tracks, according to the website, are: arm slot, spin direction, break force, backward extension, forward extension, speed, total spin, backspin, side spin, riflespin, spin efficiency, vertical movement, and horizontal movement.
“We’re happy, along with all MLB fans, that MLB and the players have reached an agreement,” said Ackerman. “Looking forward to opening day.”
A disagreement between Major League Baseball and its players resulted in a lockout, which ended on March 10, 2022.
(Editor’s Note: WRAL TechWire parent company Capitol Broadcasting Company also owns the Durham Bulls, a minor league team and affiliate of the Tampa Bay Rays. The Durham Bulls home opener is Tuesday, April 12.)
