• Charlie

“The whole stay at home, personal improvement category is booming and that’s where we firmly sit”

Updated: Jun 16, 2020

As part of the Sports Loft Member Series, presented by Northridge, Drew Barrand talked with Formalytics Founder and CEO, Andrew Hall.

According to Andrew, “We’re focused on answering the question of “how do you know that you are actually improving at football?” We do that by AI running on a mobile device, where any consumer can pick up the phone, measure a range of six drills and get actionable feedback on their performance and where they are ranking.”

Drew and Andrew talk about the current funding round: “We’ve raised £2m to date, we’re raising a £3m round right now. It’s pretty capital intensive building this technology”, how they are working with athletes: “We’re in dissuasions right now with some of the biggest names in football, to be talent within the masterclasses which will help users improve”, their work with partners: “UEFA is our landmark client on the white label version” and the potential applicability into other sports: “Most of the drills that we measure are the backbone of the combine skills”.

They also discuss what it has been like operating and raising money under COVID - "We have a really flexible and agile system. Our productivity is now higher on development than it was pre-COVID. The silver lining was that some of the players and investors had a lot more time on their hands” and how fundraising conversations have changed - "We’ve seen that the VCs are very focused on their existing portfolio, but some of the football investors are looking for new opportunities”.

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