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Tech Co. Hookit Raises $16 Million

Sports analytics company Hookit has raised $16 million in growth capital to build out technology in machine learning and predictive analytics.

The deal was led by a Santa Monica-based growth equity firm called Arrowroot Capital, which invests in software companies. Other investors in the round included Maryland-based Bialla Ventures, San Francisco-based Social Starts, and existing private investors.

Solana Beach-based Hookit, founded in 2001, crunches data on pro players’ performance, social media prominence and engagement with fans to help companies such as Monster Energy and GoPro decide which players to sponsor. Hookit’s clients include Sony, Vans, Asics, as well as Monster and GoPro.

“Hookit has built a very powerful platform that is years ahead of the traditional media measurement companies.” said Matthew Safaii, managing partner at Arrowroot Capital. “They have done a tremendous job attracting top-tier clients in the soccer, motorsport and Olympic categories and we look forward to being a value-added partner to support their continued growth.”

Hookit plans to use the capital, in part, to expand its global reach and grow its team.

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