Motion and performance analysis leader to expand technology application utilized by pro teams and colleges for player development and recruiting
SAN FRANCISCO – February 28, 2022 – Insured technology financing pioneer, PIUS announced today the securing of $30 million in financing for Blast Motion, the leader in swing analysis, player development and remote coaching. This is the second round of funding secured by PIUS based on its evaluation of Blast Motion’s intellectual property. The private placement bond was underwritten by PIUS and will provide the company working capital and growth capital.
“Like many businesses, the COVID-19 pandemic required Blast Motion to pivot, focusing more heavily on virtual training and recruiting, and ultimately expanding our wearable sports analysis technology beyond its original application,” said Michael Fitzpatrick, CEO of Blast Motion. “In 2022, we look forward to seeing the sports industry return to normal, with teams and players traveling and attending events, while also continuing to enjoy the remote coaching applications that emerged from the first two years of the pandemic. The $30 million in funding will enable Blast Motion’s continued growth and market expansion as we see live sports return alongside data-powered player development and recruiting options.”
Blast Motion offers industry-leading swing analysis technology, as well as an integrated platform including software analytics, coaching, reporting, and training feedback tools to help athletes improve their game and give coaches better player development insights. Its golf, baseball and softball solutions are utilized by youth players, colleges, professional teams, and athletic associations alike.
“Blast Motion is an innovator in the field of sports technology, and based on PIUS’ initial evaluation of the intellectual property, it has shown immense promise. With this second financing, we were especially impressed with the significant growth to Blast Motion’s IP portfolio,” said Joe Agiato, CEO of PIUS. “Having focused its technology expansion on improving core competencies, like swing analysis and advanced insights, as well as developing new areas of insight, including joint stress, PIUS is eager to play a role in the next phase of Blast Motion’s industry advancement.”
PIUS provides a proprietary insurance product for growth-stage technology companies to secure better, more flexible financing options without dilution. PIUS evaluates a company’s intellectual property to insure the value of the loan debt. PIUS acts as a long-term partner for the borrower, by providing the insurance, bringing the capital source via institutional investors, and continued monitoring for the life of the loan, mitigating loss and offering a complete solution.
PIUS Limited, LLC, offers a proprietary insurance product for growing technology companies, which utilizes a company’s intellectual property (IP) as collateral. By insuring the loan based on its evaluation of a company’s IP, PIUS helps facilitate greater loan amounts at better rates, while transferring the risk from the lender to the insurer. PIUS is a managing general agent (MGA) and provides more complete coverage than other policies through its residual value insurance program. For more information, visit https://piusre.com.
About Blast Motion
Based in San Marcos, California, Blast Motion is an information company that provides motion analysis and performance insights. By intelligently combining the bio-mechanics of movement with sensor data, video capture technology, and cloud-based software services, Blast has redefined the way people coach, recruit, train, analyze, and improve their game. For additional information on Blast Motion, please visit: blastmotion.com.