Hudl raises $72.5 million to expand its sports video service

Sports and videos. Each of them alone is already a money factory, but the two of them together? Well, a company by the name of Hudl has decided to combine them into a service that allows athletes to film game and practice videos, edit them, and then share them using their smartphones. A pretty cool idea, one that has earned the company $72.5 million in new venture funding led by Accel Partners.

Athletes are often quick to tell you that film study pays off. Apparently, building the software for that film study pays off, too. Hudl, a video company that lets athletes capture, edit and share game or practice video from mobile devices, has raised $72.5 million in new venture funding, CEO David Graff told Re/code. The new round was led by Accel Partners and educational services company Nelnet. Hudl is trying to bring a sports industry staple into the 21st century. Coaches and players of all levels rely on game and practice footage to critique performances and prep for upcoming games. But until recently, a lot of that footage was captured on clunky video equipment, and dispersed to players and coaches via DVDs. Hudl brings all of this technology onto smartphones and tablets. Teams can capture footage through the Hudl app, edit it, add notes or graphics to specific portions, and then send it out to others on the team. You can also chat back and forth with other people within the app, creating a pseudo-film room anywhere with Wi-Fi.