Charlottesville, Va.-based Springbok Analytics, a sports medicine firm with a focus on precision medicine and personalized therapies, has announced the closing of a $3 million seed investment round led by Chicago-based Transition Equity Partners.
Other new investors included the NHL’s Chicago Blackhawks, Australia’s FSHD Global Research Foundation and prior investors Titletown Tech, of Green Bay, Wis.; CAV Angels, the University of Virginia alumni group; and other early angel investors. Springbok Analytics, founded in 2013, has so far raised $4.5 million.
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“We are thrilled to welcome such a diverse group of strategic investors who closely align with our next stage of growth,” said Springbok CEO and co-founder Scott Magargee, who has wide-ranging experience in health startups, besides practicing law in Philadelphia. “This investment allows us to further develop our technology to help improve precision health across human performance, longevity and life sciences.”
Springbok Analytics — co-founded by Magargee and Silvia Blemker, professor of Biomedical Engineering at the University of Virginia — has built an AI-powered platform that transforms MRIs into three-dimensional analyses of muscle. It can be used to develop better injury management protocols, enhance performance and advance clinical research.
Its technology uses 15-minute scans to improve the accuracy of magnetic resonance imaging, transforming static 2D imagery into precise 3D muscle assessments. The scans quantify muscle volume, asymmetries and atrophy, as well as identify soft tissue injuries and scar tissue. Its first commercial application was a full lower body analysis, introduced at the end of 2020.
Focus on Muscle Issues
“Springbok has the potential to positively impact human performance in a significant way,” said Pat Eilers, a former NFL player and founder of Transition Equity Partners. “We are equally impressed with the team behind it and are proud to support them as they build a company at the forefront of innovation in the world of muscle analysis.”
The company was recently selected into the NBA’s Launchpad program, the league’s initiative to pilot emerging technologies that help sports medicine. It also has relationships with other major leagues such as the MLB, NFL, NHL and collegiate athletics. Springbok Analytics also advances critical research in a range of musculoskeletal and neuromuscular conditions, including facioscapulohumeral muscular dystrophy (FSHD), on account of which the FSHD Foundation of Australia is an investor.
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“We are eager to help Springbok in their pursuit of improving quality of life for all, including our players and prospects,” said Matt Gray, vice president for Strategy & Analytics at Chicago Blackhawks. “The insights generated from this never-before-seen musculoskeletal data could change the game for personalized injury management, performance optimization, and the treatment of injuries and training strategies in hockey and beyond.”
Investors
CAV Angels, the alumni group at the University of Virginia, was founded in 2015 by James Cheng and Jerry Peng. It has made 26 portfolio investments and exited one — Phitonex. Its recent investments include CarpeDM, Astraea, Brandefy, Cerillo and Recs.
TitletownTech, of Green Bay, Wis., has raised $105 million from two funds. It has made 20 portfolio investments and exited one. Its recent investments include Slate, PorterLogic, Tusk and Stemloop.
