Deal: Catapult Group International Limited (Catapult) has been advised on its institutional placement to fund its growth strategy.

Value: $25 million

Area: Corporate

Key players: DLA Piper partners David Ryan and Joel Cox led the legal team advising Catapult, with assistance from senior associate Kelly Morrison and solicitor Amina Karcic.

Deal significance: Catapult is described as an elite sports technology company.

The company holds 300 staff based across 16 countries worldwide, working with over 1,520 elite teams from 35 different sports globally.

According to a statement from DLA Piper, the net proceeds from Catapult's institutional placement will be used to fund growth strategies for Elite Sales, with a specific focus on growth in the Americas, Europe and Asia, as well as investing in additional software development and a new technology stack.

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Funds will also provide additional marketing, distribution and working capital to accelerate growth in unit sales for Prosumer, which targets the keen amateur sports market, the firm added.

“We are pleased to have advised Catapult on this latest transaction,” DLA Piper partner Joel Cox said.

“This is a positive outcome and enables the expansion of market share for both their Elite and Prosumer offerings.”