The company hopes to have 100 Halifax-based employees by the end of next year
Halifax-based Kinduct Technologies, which specializes in applying big data to sports performance and athlete health, was part of a collection of startups that grabbed new funds from Intel Capital. In Kinduct’s case, Intel Capital led a $9 million (CA$12 million) Series A funding round. The round included participation from past investors Clearwater Seafoods Chairman John Risley, Canada-based CFFI Ventures Inc., and Elysian Park Ventures.
The announcement came in Monday night at the Intel Global Summit in San Diego, when Intel announced investments in a dozen companies spread across North America and China. Kinduct seems to have been the jewel in the crown and the only Canadian company in the batch.
“Whether it is a professional baseball team, a physical therapy clinic, or a local police force, data analytics is revolutionizing how human performance organizations operate today,” Kinduct Founder and CEO Travis McDonough said. “This investment will be used to enhance our platform capabilities, allowing our growing client base to analyze user data in new ways to achieve even higher levels of informed decision making.”
The company boasts over 100 pro sports organizations as clients to their athlete management system, complete with a library of medical animation and info from more than 500 data sources. Some of those organizations are the Los Angeles Dodgers, Minnesota Twins, Boston Red Sox, Indiana Pacers, and San Jose Sharks.
The two companies will collaborate on creating a more sophisticated prediction model using Intel’s Saffron Technology as well as their open source Trusted Analytics Platform (TAP) to better predict potential sports injuries. TAP can be used to manage big data and facilitate machine learning.
The funding will also let Kinduct expand to collegiate and high school sports. The funds will also allow the company to grow from its current 67 employees to about 100 over the next year.
“Data is re-inventing the way people approach sports, health, and wellness,” said Intel Senior VP Wendell Brooks, who serves as president of Intel Capital. “The versatility of the Kinduct platform, coupled with Intel compute technology, creates further growth opportunities in these areas by producing deeper data-driven insights into human performance that benefit athletes, coaches, health care providers and patients.”