Shot Scope Secures $8.5 Million in Series B Funding, Sets Sights on Global Expansion
EDINBURGH, Scotland, July 31, 2024 (GLOBE NEWSWIRE) -- Shot Scope, the industry-leader in advanced GPS, rangefinder and shot tracking technology, has secured $8.5m in Series B funding, accelerating its offering of acclaimed products and game improving data to over 60 million golfers worldwide.
Led by Guinness Ventures, which invested $4m, the company has raised the capital to continue its rapid global expansion and strong investment into product development, specialist resources and brand marketing - as it continues to provide subscription free, game-enhancing technology to golfers. With GPS wearables, laser rangefinders, and shot tracking devices, Shot Scope is committed to offering products and analytics tools to help players of all skill levels.
"This investment accelerates our mission to deliver game improvement technology to 60 million golfers around the world. Throughout 2024, we plan to invest in infrastructure across North America and beyond to support our retail and distribution partners,” says David Hunter, Founder and CEO of Shot Scope. “Golf has experienced a huge change in the past five years, as people of all ages and demographics are entering the sport. With Shot Scope they can improve quickly and enjoy the game they love even more."
Founded in Scotland (the Home of Golf) by Hunter, Shot Scope became a trusted name in the UK with key buying groups, green grass retailers and pro shops welcoming the brand into their networks. With Shot Scope products readily available across the UK and Europe, the organization looks to establish the same trust worldwide.
Adam Barker, Guinness Ventures, added “Shot Scope's innovative product and software suite is meeting strong market demand, positioning the company for significant expansion both domestically and internationally. As lead investor, we are thrilled to further support Shot Scope at this inflection point and to continue being a part of its exciting growth journey”.
In addition to being available in the largest retailers in the US, including Dick’s Sporting Goods and PGA Tour Superstore, Shot Scope is gaining traction with green grass retailers in various states with the brand’s awareness continually growing. Similarly, partnering with PGA of America’s Golf Retirement Plus program™ and TROON Golf Network has further developed Shot Scope’s presence and credibility within the US golf industry.
Beyond physical products, Shot Scope’s mobile app and web dashboard is home to a plethora of free-to-access features for its users. Features include aerial GPS maps on over 36,000 courses worldwide, over 100 tour level performance statistics and MyStrategy - the data driven strategy builder.
To learn more about Shot Scope, please visit www.shotscope.com or follow the brand’s social media channels on Instagram, X and YouTube.
About Shot Scope
Shot Scope Technologies (www.shotscope.com), founded in 2014 and headquartered in Edinburgh Scotland, offers a range of industry-leading products that improve the way golfers access distances on the golf course, through both GPS wearables and laser rangefinders. Their innovative shot tracking devices record over 100 statistics, enabling every golfer to analyze their round, know their game, and help shoot lower scores. Shot Scope products have collected over 350 million shots and been used by hundreds of thousands of golfers worldwide, who enjoy lifetime free updates and no subscription fees - helping them to save an average of 4.1 strokes. The team consists of technology experts, golfers, and a former Walker Cup player who are passionate about driving game improvement and enjoyment through the most expansive and accessible lineup of golf products on the market.
About Guinness Ventures
Guinness Ventures is one of the largest and most-trusted managers of EIS qualifying investments, with
over 3,000 investors and over £255 million invested across the Guinness EIS and Guinness AIM EIS
Portfolios. Guinness Ventures forms part of Guinness Global Investors, the London-based specialist fund
management company, established in 2003. Please see www.guinnessgi.com/ventures for more details.
Company registration: 4647882. Authorized and regulated by the Financial Conduct Authority (223077).
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Bill Feidler Buffalo Groupe 703.615.4034 bfeidler@buffalogroupe.com
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