Kitman Labs, the Dublin sports technology company founded by Stephen Smith in 2012, has raised €4,440,000 from two venture capital funds in California.

The US investors are BRV V L.P. and H. Barton Co-Invest Fund LLC. Kitman Labs was advised by law firm Mason Hayes & Curran.

Kitman Labs has been operating from an office in Menlo Park, California, since 2014 and a primary target market is US professional and collegiate level sports teams. The company’s Athlete Optimisation System enables teams to optimise athlete health and performance while reducing injury risk and increasing overall performance potential.

Notable clients include the Miami Dolphins, Detroit Pistons, Seattle Sounders, the Irish Rugby Football Union,  Everton, Norwich City, Bath Rugby and Gloucester Rugby.

Smith (pictured), finalist in the 2016 EY Entrepreneur of the Year competition, previously raised €3m from BRV V L.P. in 2014.

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Kitman Labs Ltd booked a loss of €2.5m in 2015, and year-end net worth was €132,000. Balance sheet debtors tripled through 2015 to €565,000 at year end.

The company had 18 people on the payroll through 2015, on average remuneration of €63,500 per annum