Hudl, a Nebraska-based software developer of video analysis tools for players and coaches, has closed on a $72.5M round of Series C venture funding. The round, led by Accel Partners and student loan provider Nelnet, represents another sign of the surging interest of the venture capital community in digital sports entities. The funds, Hudl's first institutional funding after two prior angel rounds, will be used in part to fund acquisitions and expand its product offering. "To have our prior investors coming back and then get somebody with the pedigree of Accel, which has a lot of experience helping build technology companies, we're really excited," said Hudl CEO David Graff. Hudl formed in '06, and has steadily built a following by developing a platform to easily edit, analyze and distribute game video, and now has more than 3.5 million users in 40 countries. "We've been aggressively identifying all sorts of verticals that have been democratized by technology," said Accel Partners Principal Miles Clements, who was also directly involved in Accel's investment in ticket aggregator SeatGeek. "Hudl is another extension of that. They've built a very sticky, profitable business, and their opportunities are only beginning to unfold."
