AI Hits The Court: NBA Reportedly Joins $40 Million Investment Round For Fastbreak AI

• The report noted that the funding round also involves former National Football League stars Larry Fitzgerald Jr. and Luke Kuechly. 
• David Lee, the head of NBA Investments, noted that the league is using Fastbreak AI’s technology to help with operations.
• Bloomberg said that Fastbreak AI’s management looks forward to using the newly raised capital to increase sales and marketing efforts in amateur sports.

The National Basketball Association (NBA) is reportedly one of the investors in Fastbreak AI’s latest $40 million funding round, as artificial intelligence (AI) continues to see increasing demand for integration within the sports industry.

According to a Bloomberg News report, the company’s funding round is led by sports venture capital firms Greycroft and GTMfund and also receives support from the National Hockey League.

The report noted that the funding round also involves former National Football League stars Larry Fitzgerald Jr. and Luke Kuechly. A valuation of the company was not disclosed.

Use Of Funds

According to Fastbreak AI’s website, its products optimize every part of sports, including scheduling and event management to travel, ticketing, and brand activations.

Bloomberg said that Fastbreak AI’s management looks forward to using the newly raised capital to increase sales and marketing efforts in amateur sports, including youth travel tournaments, as well as hiring more engineering staff.

NBA’s View

David Lee, the head of NBA Investments, noted that the league is using Fastbreak AI’s technology to help with operations, according to Bloomberg.

“Our investment reflects our belief in their continued innovation across the professional and youth sports ecosystem,” he added.

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