Slinger, known for its innovative sports equipment, raised $11 million on Wednesday in an oversubscribed funding round.
The round, led by Spartan Capital, will enable Slinger to continue its growth as a connected sports company in tennis while establishing a footprint in other sports.
Slinger’s interactive tennis ball offerings are designed to provide users with a seamless experience to improve their games without any assistance. Products range in price from $25 to $900.
Since going public through a reverse merger in 2019, Slinger has been off to a hot start, generating $11.2 million in revenue during its first full year of operations on sales of more than 20,000 units of its various products.
- Last December, the company announced a five-year exclusive distribution deal with Color Sports to bring its products to the Gulf countries, including Saudi Arabia and Qatar.
- It inked a five-year exclusive distribution agreement last August with Tennis Only, Australia’s premier tennis specialty retailer.
- In June, the company acquired Foundation Tennis, a pioneer in tennis software applications with more than one million currently registered users.
- Earlier this month, it agreed to a partnership with Powerway Sports, a leader in Chinese tennis markets.
Slinger is represented in more than 60 markets across six continents.
The company expects to pocket roughly $250 million in revenue over the next five years.