Orreco Announces $2 Million Investment by True Ventures
LOS ANGELES, February 15, 2017
Orreco, a sports and data science company, will scale its operations following a $2 million series A investment from Silicon Valley-based venture firm True Ventures. The investment will enable Orreco to fund its expansion in the United States and Europe, and further develop its pioneering product suite of sports science and data solutions for professional sports.
Orreco uses machine intelligence to find hidden signals in data including GPS and performance statistics to help improve athletic performance and reduce the incidence of illness and injury. The company’s actionable data solutions have already gained significant traction with professional sports stars in Formula 1, on the PGA tour, and with players and teams in the NFL, NBA, MLB, NHL, English Premier League and Olympic sports.
The Orreco team includes 16 PhDs who have worked with 35 Olympic medalists since the 2000 Olympic Games in Sydney and published more than 300 peer-reviewed scientific papers.
Founded in Ireland in 2010 by sport scientist Dr. Brian Moore, now Orreco co-founder and CEO, and hematologist Dr. Andrew Hodgson, Orreco is pleased to announce the opening of its new office in Los Angeles. The company will use the new cash injection for key hires in the U.S. and its Galway, Ireland office.
The Orreco technical team has expanded to include Dr. Andy Barr, former head of performance at the New York Knicks and Manchester City F.C., and Dr. Ara Suppiah, team physician to the winning 2016 U.S. Ryder Cup team. Keith Wood, former captain of Ireland’s international rugby team and a former World Player of The Year in that sport, has taken on an executive director role, as well.
Orreco investors include NYC-based Teneo Holdings and Tom Killalea, former VP of Technology at Amazon and Orreco board member.
PGA tour and major winning golfers Padraig Harrington and Graeme McDowell also became investors after experiencing the benefits of Orreco’s services first hand.
True Ventures was the first institutional investor in fitness tracker brand Fitbit. True also has early investments in Athos, maker of smart performance sports apparel, and Peloton, the rapidly growing stationary bike and indoor cycling platform that streams classes into your home, live and on-demand.
“Leveraging machine learning in personalized digital health care is a great opportunity,” said True Ventures co-founder Phil Black. “Orreco is poised for rapid growth in the professional and amateur athlete markets thanks to Brian and his team of veteran sports and data scientists.”
Orreco is the first high-performance sport company in the world to partner with IBM Watson, the cognitive computing platform. The Irish company’s actionable data and expertise is fed into Watson to help coaches and professional athletes make key decisions based on the latest scientific research and personalized solutions for nutrition, sleep and training programs.