Cricket App Business CricHQ Reportedly Hoping To Raise $10M From Investors

Cricket app business CricHQ is "reportedly looking to raise" $10M from investors, according to Holly Ryan of the NEW ZEALAND HERALD. The National Business Review is reporting it "obtained an investment pitch issued by the company that outlined its immediate goal to raise further funds," and put a pre-money valuation on CricHQ of $77M. This is "the third time the company has raised capital in its six year history" after initially raising NZ$8M from private investors before raising a further $10M last year in a round led by Singapore-based Tembusu Partners. CricHQ started as a cloud-based cricket scoring app, "but has expanded into competition management, administration, scoreboard and statistics platform as well as data collection and predictive scoring." The NBR reported the company was "considering expanding into football with the money raised in the coming period used to develop relationships with broadcasters," a new fantasy league feature, payment processing and e-commerce abilities (NZ HERALD, 9/20).