Halifax human physical performance data and analytics software provider Kinduct Technologies has closed a US$9 million Series A investment round, led by Intel Capital, with participation from previous investors CFFI Ventures Inc., and Elysian Park Ventures.
The funding announcement was made on Monday night from the stage at the Intel Global Summit in San Diego by Intel senior vice president and president of Intel Capital, Wendell Brooks.
“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,” says Kinduct CEO and founder Travis McDonough. “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.”
Kinduct’s cloud-based software is now used by over 100 professional sports organizations, including the NHL’s San Jose Sharks and Montreal Canadiens, the NFL, MLB’s LA Dodgers, Boston Red Sox and Minnesota Twins, the NBA’s Indiana Pacers, New York Knicks, Golden State Warriors and Dallas Mavericks, MLS’s LA Galaxy, the Canadian Olympic Foundation, as well as military and public safety units, physical medicine clinics, fitness professionals and healthcare providers, who use the platform to analyze physical data to inform decisions and drive human performance improvement.
The funding announcement was made as part of an overall US$38 million investment made by Intel in 12 companies from around the world, including from the United States, France, and China.
“Data is re-inventing the way people approach sports, health, and wellness,” said Wendell Brooks, senior vice president at Intel Corporation and 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.”
Aside from the financial investment, Kinduct will also collaborate with Intel on the development of a new athlete management system combining Kinduct’s platform with Intel’s Saffron Technology and Intel’s open source Trusted Analytics Platform (TAP) technology.
Intel’s Saffron Natural Intelligence Platform makes recommendations based on predicting risk factors for physical injury to athletes, while the TAP platform applies Big Data analytics to optimize machine learning and deep learning models for performance and security considerations particular to maximizing athletic outcomes.
Kinduct now employs 67 people in Halifax, up from 45 earlier this year, and plans to scale aggressively in the next year, something that will be helped greatly with support from Intel, and which reflects growing demand for data management and analytics solutions relating to the sports, health and wellness sectors.
Clearwater Seafoods chairman and Columbus Communications co-founder John Risley, who participated in Kinduct’s Series A round through his CFFI Ventures Inc., has also been active investing in innovation in the Maritimes, most recently in the form of a $25 million gift to the Ocean Frontier Institute, a collaborative marine research initiative between Halifax’s Dalhousie University, Memorial University in St. John’s and the University of Prince Edward Island.