Singapore / New Zealand, 16 June 2015 – CricHQ Ltd. (“CricHQ”) said today that it has secured up to US$10 million funding from Singapore-based private equity firm Tembusu Partners Pte. Ltd. (“Tembusu Partners”) to enhance its cricket digital platform and grow its global operations. Tembusu Partners manages over S$300 million (approximately US$223 million) and has a strong record in investing in high-growth enterprises. CricHQ will be the second investment by Tembusu Growth Fund III – which has a target size of S$150 million (approximately US$111 million). Forty-one of 106 national governing bodies for cricket have partnered with Wellington-based CricHQ to improve administration of the game in their jurisdictions from club level upwards. Cricket is the world’s second most popular sport, with an estimated global following of over three billion. Cricket administration previously consisted of paper-based, time-intensive methods of data collection. CricHQ aims to accomplish its mission of “Making Cricket Better” for cricket stakeholders through its digital platform which combines an integrated competition management, live scoring and Customer Relationship Management to solve the problem of data loss. Its crowd-sourced and independently-validated data collection process allows fans to receive the benefit of the biggest and broadest range of cricket in the world thanks to CricHQ, unlocking the value of cricket that was previously unaccessible. With Tembusu Partner’s investment, CricHQ will upgrade its platform to better serve clients and stakeholders, release exciting features for fans, expand geographically and attract talent. CricHQ will grow its global operations through senior appointments which are to be announced in India, United Kingdom, South Africa and Pakistan in the coming weeks. It will also expand its development, sales and marketing capabilities in India, showing further commitment to cricket’s biggest market. Mr. Simon Baker, founder and CEO of CricHQ, said: “Tembusu’s investment enables CricHQ to expand significantly and achieve our growth targets. An institutional investment of this significance, and the support of shareholders and clients such as New Zealand Cricket, validates our global business strategy. CricHQ will benefit from Tembusu’s experience and network in Asia, and is based in Singapore – the ideal gateway to our key markets.” Mr. Andy Lim, founder and Chairman of Tembusu Partners, said: “Tembusu believes that CricHQ’s business model is highly scalable and has a huge opportunity to become the world’s leading online repository of cricket information. We are proud to partner CricHQ in its exciting growth journey.” Mr. Stephen Fleming, CricHQ Director and Ex-New Zealand Cricket Captain, said: “Brendon McCullum and I met Simon five years ago to discuss CricHQ and how it was “making cricket better”. It clicked with us both as a business and a means of giving back to the game that had given us so much. This investment from Tembusu Partners validates the early support shown to CricHQ by the 20 other high-profile cricketing names that also invested.” CricHQ’s early growth has been supported throughout by New Zealand government innovation and export entities. Tembusu Partners’ investment represents a significant milestone for those business support structures. Mr. Quentin Quin, General Manager Capital at New Zealand Trade and Enterprise (“NZTE”), said: “NZTE has been working with CricHQ to fast track their international growth and we congratulate them on achieving this significant milestone. This deal is also significant for the New Zealand capital markets; put in perspective it represents 25 percent of all investment in early stage New Zealand companies, and 4.6 percent of investment into New Zealand privately held companies in the last financial year.” Mr. Imran Khwaja, president of Singapore Cricket Association and former Singapore international player, who sits on the Asian Cricket Council and International Cricket Council Executive Boards, said: “CricHQ has identified a critical need within the world’s second-largest sport, and has cleverly bridged the divide between technology and sports with its highly innovative products. With this funding, I believe CricHQ significantly influences how cricket is conducted and experienced today.” – End of Press Release – Issued on behalf of Tembusu Partners Pte Ltd and CricHQ Ltd by WeR1 Consultants Pte Ltd: CricHQ Contact Simon Baker, CEO Simon.Baker@CricHQ.com Tel: +64 21 288 4228 Media Relations Contact: WeR1 Consultants Pte Ltd Ian Lau email@example.com Tel: +65 6737 4844 Media collaterals can be accessed via: https://goo.gl/LvRLyg
Consul General and Trade Commissioner Kevin McKenna visited CricHQ’s Indian hub in Kochi on Tuesday in a continuation of a partnership that has seen significant support provided by New Zealand governments Trade and Enterprise arm.
CricHQ has been well supported throughout by the various elements of government support structures for business growth, initially receiving early stage funding from Grow Wellington then MBIE to build it’s cricket content and administration platform.
This visit announced NZTE’s continued support of CricHQ – with a round of funding focused on growing it’s operations and marketing capacity in cricket’s beating heart, India..
The visit Jayadeep B, COO India, showed his now internationally renowned hospitality whilst introducing Kevin to our team. Kevin spoke warmly on the welcome he received, the Kerala delicacies he was served and the strong partnership between the New Zealand government and CricHQ.
Set out to redefine how cricket is administered, shared, analysed and followed- Simon Baker and Jarred Sewell offered humorous and honest insights into their cricket social network thus far.
They’re making their footprint on the world, with 7 offices around the world targeting huge markets such as India, Sri Lanka and the UK. Such developments mirror their strong relationship with the International Cricket Council and a huge passion for the game. “One of our big points of difference is our data-driven crowd-sourced model as opposed to actually having to put bums in stadiums,” says Baker.
At a time when smartphones and touchscreens were making an appearance, founder Baker and fellow cricketer Sewell were well aware of the difficulties of manual scoring. CricHQ’s original business plan was to “make scoring cool by opening it up to a whole bunch of new scorers and look to monetize that somehow using social media and bring it into the digital world.”
They found a massive opportunity within cricket due to the enormous amount of data used and a market that was currently very commercially and technologically underdeveloped. Baker put this down to the traditional nature of the game. “One of the things we found was that everyone that was administering the sport was doing it really paper-based. There was a huge opportunity to provide a cloud-based data-driven platform.”
He says to get people on board and break traditional habits; you need to give them benefits. “Users can share scores with friends and relatives. Grandma and granddad can watch the stats live if they live down in Nelson and the game is here in Wellington.” CricHQ is honing in on that grass-roots level niche area, not just the top level of the game.
“From a startup point of view, it’s always been important to us to be generating revenue,” says Baker. This has not been without excitement though. Baker and Sewell entertained with “highlights” from their cross-cultural ventures and some of the challenges that come with expanding the venture overseas.
Baker says the key to a small New Zealand company with a handful of people raising market awareness on the world stage is by working with key strategic partnerships. CricHQ has utilized the likes of Nokia and Samsung by “providing them with unique content and receiving brand awareness in return.” Sewell spoke of executing clever marketing plans on tight budgets before the pair answered over a dozen questions to a room of eager hand-raisers.
Source: Built In Wellington
CricHQ, a cricket technology company is on an expansion spree. The company, which is looking at expanding its executive team in India has appointed Karthik Ramanujam as director of digital sales and marketing for the India market.
Ramanujam brings with him over 16 years of experience in ad sales, content and digital marketing, with earlier stints at NDTV Media, Sony Entertainment Television, Ten Sports, Vdopia and Qyuki Digital Media. In his current role, he will support global sales and user acquisition for CricHQ’s online and mobile platforms.
CricHQ CEO Simon Baker said, “We are very bullish about the Indian market opportunity and are building a strong team here to take full advantage of this opportunity. Karthik’s appointment is a significant boost for CricHQ’s India operations and it also sets the stage for more senior level hires in the near future.”
The company plans to hire 15 professionals for its corporate office in Bangalore in the next few months, which are in addition to over 70 professionals currently employed in India. CricHQ currently has presence in Chennai and Kochi. The Chennai office has 50 employees engaged in product development and data capture and analysis; whereas the Kochi office focuses on CricHQ’s global operations. The company aims to expand its India head count to over 400 employees in the next three years.
During this year’s IPL, lucky CricHQ users have enjoyed getting up close and personal to their cricketing idols as part as our exciting “Meet Your Heroes” competition.
With players such as Ravi Ashwin, Brendon McCullum, Faf du Plessis and David and Michael Hussey volunteering their time to take part in the competition, many “once in a lifetime” experiences have been created throughout India.
After meeting Brendon McCullum with her daughter, Mary Thomas, one of the competition’s early winners declared “This is the best moment for the family in a very long time.”
What Mary and other winners were treated to was a cricketer lover’s dream day. Commencing with getting picked up in a luxury Uber taxi, they were whisked over to rub shoulders and have a photo with their hero at the team hotel. The next stop was to the city’s stadium to watch that day’s IPL match before being safely dropped home, rounding out a truly memorable day.
To be eligible for these dream day experiences, visitors to CricHQ simply needed to select the hero they would most like to meet from those participating in the competition. For those not already members on the site, they also needed to create a free CricHQ profile. The competition could also be accessed via our mobile website and apps, and was open for all Indian residents.
After the success of this recent competition we now look forward to running future campaigns that offer cricket fans around the world more of these “once in a lifetime experiences.”