A Stamford-based company, Arccos Golf, recently announced a $20 million strategic fundraising round led by the PGA Tour.
Arccos is the world’s largest on-course tracking system and sells a popular AI golf product. Through the investment, Arccos has become the official game tracker of the PGA Tour, according to an announcement.
Arccos sells a product that enables recreational golfers to track their shots and collect data. Founded in 2012, Arccos has received financial support from Connecticut Innovations, the state’s venture capital arm.
The $20 million Series C fundraising round includes an investment by the PGA Tour, along with Ping, TaylorMade, Cobra Puma Golf and Topgolf Callaway Brands.
Arccos’ shot-tracking system uses a series of small screw-in tags to tether a golfer’s clubs to a smartphone app, according to Golfweek. The system uses GPS to track the location of every shot a player hits.
The data is used to “reveal information about player tendencies, strengths and weaknesses, along with suggestions on what to practice,” according to Golfweek.
“This investment shows that data is here to stay and that it is going to help everybody,” Sal Syed, Arccos’ CEO and co-founder, told Golfweek recently. “Whether you are a player looking to improve or an instructor looking to teach better, a fitter looking to be smarter or even a manufacturer looking to make better tools for golfers, this data is going to help every aspect of the industry.”
Syed, who has an MBA from Yale, told Golfweek the money raised will allow the company to accelerate its product roadmap.
“We can invest more in data science, make the system more accurate, easier to use and more available to a wider array of golfers,” Syed told the magazine.
