Galway-based sports performance and data science company Orreco is to double its workforce in Ireland and the US with a new round of investment from a Silicon Valley-based venture firm.
The €3m investment by True Ventures will see the company scaling its operations in Ireland, the UK and the US, where it already employs 30 people.
The company intends to take on 30 more employees in its Galway and Los Angeles offices.
Orreco says the new investment will enable it to expand its product, engineering, data science and commercial teams, in addition to accelerating the development of its elite performance solutions, @thlete and FitrWoman.
Its performance centres provide sports science and data solutions for professional sports teams and athletes including the US basketball NBA sides, the Dallas Mavericks and Atlanta Hawks, English Premier League side Newcastle United and WSL club Chelsea FC Women and USA Swimming.
True Ventures was an early investor in at-home fitness, media, and hardware company, Peloton, as well as being the first institutional investor in consumer electronics and fitness company, Fitbit.
"This investment will help is accelerate our growth and further develop our position in the EPL and NBA working with leading teams, athletes and their agents," Orreco CEO, Dr. Brian Moore said.
"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."
Orreco was founded in Ireland in 2010 by sports scientist Dr Brian Moore and hematologist Dr Andrew Hodgson.
Enterprise Ireland and serial Irish Investor Pa Nolan were early-stage investors in the venture.