GRAND RAPIDS — Sports technology firm MaxOne LLC announced this week that it has raised $3.5 million in capital, which includes an investment from professional basketball star Chris Paul.
Jason Mejeur, CEO and co-founder of Grand Rapids-based MaxOne, said the Series A round of financing would be used for growth and expansion.
“The biggest thing is just continuing to grow and to provide digital training services for every coach and athlete out there,” said Mejeur, whose company developed an app for coaches, trainers and organizations that is used to create customized videos for athlete training and conditioning purposes.
“The opportunities are there to provide the tools, and we just need to continue to show up in the market for the coaches and athletes that need it. Our product is there and scalable, so it’s just a matter of getting the word out,” Mejeur told MiBiz.
St. Louis-based Stadia Ventures led the funding round. Billed as a sports innovation hub, Stadia Ventures consists of an accelerator, consulting and investment components.
Every six months, Stadia brings 10 new startups into its accelerator and recently created a fund to invest in the most promising ventures.
“They’re experts in the industry,” Mejeur said of Stadia. “They see a lot of companies, and for them to choose to lead our round and take a bet on us means a lot to us, and it’s validating for us, as well. They’re a great resource for us to network and grow with.”
Grand Rapids-based Wakestream Ventures LLC also invested in the round along with Piquet Family Office, a minority owner of the Texas Rangers Major League Baseball team.
Paul, a veteran guard with the Phoenix Suns, arguably carries the highest profile among the investors.
The two parties crossed paths through MaxOne’s work with the Missouri-based Basketball Training Systems. The company manages the training curriculum for Paul’s CP3 Basketball Academy, where it implemented MaxOne’s platform. Executives at CP3 Basketball Academy were impressed with the MaxOne platform’s effectiveness.
Not only does the CP3 Basketball Academy utilize MaxOne’s platform for in-house instruction, but Mejeur said that Paul is working on additional content that will be available to other users on the platform.
“Every kid out there wants to be like the (professional) athletes on the court,” Mejeur said. “Chris Paul was one of the players front-and-center this postseason. Being able to have Chris Paul- and CP3-branded content on the basketball platform will be something that is highly engaging for the youth athletes in the future.”
While virtual training was essential over the last 16 months during the COVID-19 pandemic, Mejeur expects demand for his product to maintain.
“Much like hybrid learning and hybrid work, hybrid training is also happening,” Mejeur said. “As things go back to in-person … training from home for one or two days a week is something we see being adopted into the youth training space.”