Krossover Intelligence Raises 15% of $2 Million Debt Offering
Krossover Intelligence Inc., a sports technology company that has its origins at University of Pennsylvania, has raised $300,000, or 15% of a $2 million debt offering, from one investor, according to an SEC filing.
The New York-based startup has previously raised $4.1 million from Greg Cangialosi, the Baltimore Angels, Ken Fox of New York-based Stripes Group and basketball player Larry Stone.
Krossover Intelligence has developed a web-based video indexing platform that allows coaches to analyze games and enhance performance. The firm sells the platform as software-as-a-service, with support for basketball, football, and lacrosse.
Krossover began as a project in 2008 to help the University of Pennsylvania's basketball team make use of advanced statistics in order to win more games.
Founder and CEO Vasu Kulkarni is a basketball junkie who made the Junior Varsity basketball team at the University of Pennsylvania. He was apparently nicknamed "The Bangalore Blitz.”
Before founding Krossover, Vasu was a part of Comfort2020 as a technology lead, Lapview as an engineer, and founded GloMed, a health care outsourcing firm.