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CricHQ raises $10 mn from Tembusu, plans to expand India ops
MUMBAI: CricHQ has secured $10 million funding from Singapore-based private equity firm Tembusu Partners to enhance its cricket digital platform and grow global operations.
CricHQ will grow its global operations through senior appointments in India, United Kingdom, South Africa and Pakistan. It will also expand its operations in India, cricket’s biggest market.
Earlier, CricHQ had raised about $11.2 million from angel investors.
With Tembusu’s investment, CricHQ will upgrade its platform to better serve clients and stakeholders, release exciting features for fans, expand geographically and attract talent.
CricHQ’s platform includes a cricket administration module that integrates with its real-time scoring app. It also offers performance insights for coaches and players, while providing fans the latest essential cricket information.
CricHQ founder and CEO Simon Baker said, “Tembusu’s investment enables CricHQ to expand significantly and achieve our growth targets. An institutional investment of this significance, and the support of shareholders and clients such as New Zealand Cricket, validates our business strategy.”
Tembusu Partners chairman Andy Lim said, “Tembusu believes that CricHQ’s business model is highly scalable and it has a huge opportunity to become the world’s leading online repository of cricket information. We are proud to partner CricHQ in its exciting growth journey.”
Cricket administration previously consisted of paper-based, time-intensive methods of data collection. CricHQ aims to accomplish its mission of “Making Cricket Better” by benefiting cricket stakeholders through its digital platform.
41 of 106 national governing bodies have partnered with Wellington-based CricHQ to better administer the game in their jurisdictions. Cricket is the world’s second most popular sport, with an estimated global following of over three billion.