A sports science firm that caught the eye of a Silicon Valley-based company has just raised €3.6 million.
The investment into Orecco by True Ventures will see the company scaling its operations in Ireland, the UK and the US.
True Ventures already employs 30 people, but the company hope to recruit it 30 more employees FOR its Galway and Los Angeles offices.
Orreco was founded in Ireland in 2010 and was the brainchild of sports scientist Dr. Brian Moore and hematologist Dr Andrew Hodgson, while Enterprise Ireland was an early-stage investor in the start-up.
Orreco's CEO, Dr. Moore, said: 'This investment will help accelerate our growth and further develop our position in the EPL and NBA working with leading teams, athletes and their agents.'
'Our strategic investments over the past 10 years in applied data science and machine learning and our dedicated focus on women's sport, in particular, is now compounding in value,' he said.
Dr. Phil Black, co-founder of True Ventures, added: 'Brian and his team have created best-in-class bio-analytics for athletes and have the customer roster to show for it.'
'It’s our pleasure to continue to support Orreco’s growth as the team expands its offerings nationally and globally. It’s such a compelling use of data science.'
Orreco's performance centres provide sports science and data solutions for professional sports teams and athletes, including the US basketball teams the Dallas Mavericks and Atlanta Hawks, and the English Premier League team Newcastle United.
Its female athlete consultancy team also recently worked with the US Women’s World Cup soccer team, where they studied the effects of the menstrual cycle on athlete's performances.
Orecco added that the new investment will enable it to expand its product, engineering, data science and commercial teams.
It will also allow it to expand the development of its elite performance solutions, @thlete and FitrWoman.
True Ventures is also known for its investments in other fitness companies such as Fitbit and Peloton.
For more business news from Newsday.ie, click here.