Shot Scope raises $8.5 million to improve golf for 60 million golfers worldwide

Golf technology company Shot Scope has raised $8.5 million in a Series B funding round led by Guinness Ventures, which invested $4 million.

The funding round also included investments from key participants; Scottish Enterprise, Growthdeck, The SideBySide Partnership and Edinburgh-based Equity Gap, in addition to Virgin Money, which is providing $1.9 million in debt financing as part of the funding round.

David Hunter, CEO and Founder of Shot Scope, said: “This investment accelerates our mission to deliver game improvement technology to 60 million golfers around the world. Throughout 2024, we plan to invest in infrastructure in the US to support our retail and distribution partners. Golfers worldwide love our GPS, rangefinder and shot tracking technology, selling products in 160 different countries around the world by 2023. Golf has undergone tremendous change in the past five years, with people of all ages and demographics loving the sport. With Shot Scope, golfers can improve quickly and enjoy the game they love even more.”

Through this Series B investment round, Shot Scope will bring its subscription-free, game-improvement technology such as GPS wearables, laser rangefinders and shot tracking devices to golfers worldwide and provide deeper performance analytics. Together with Shot Scope’s mobile app and web dashboard, the organization provides golfers with all the tools to give them a more engaging experience and improve their skills.

Adam Barker, Guinness Ventures, added: “Shot Scope’s innovative product and software suite meets strong market demand and positions the company for significant expansion both domestically and internationally. As lead investor, we are pleased to further support Shot Scope at this inflection point and continue to be part of its exciting growth trajectory.”

Founded in Scotland (the home of golf) by CEO David Hunter, Shot Scope has become a trusted brand in the UK, with major buying groups, greengrass retailers and pro shops welcoming the brand into their networks. Now that Shot Scope products are available across the UK, the organization aims to build the same trust globally.

As part of the expansion, Shot Scope is moving to a new headquarters on the outskirts of Edinburgh to house its growing team of marketing, sales and customer service experts. The new site will support Shot Scope’s ambitious plans to scale operations and deliver groundbreaking technology to a global audience in the future.

Shot Scope products are already available at major retailers in the US, including Dick’s Sporting Goods and PGA Tour Superstore. The brand continues to grow as the company gains traction with greengrass retailers in several states. Likewise, the partnership with PGA of America’s Golf Retirement Plus program™ and TROON Golf Network has further developed Shot Scope’s presence and credibility within the US golf industry.

Shot Scope has built a presence in Europe, Australia and New Zealand with retailers such as Dormy, Golfbox, Golf Warehouse and PGC Group stocking their game-improvement technology and helping golfers improve their game.

Complementing the physical products, Shot Scope’s mobile app and web dashboard offer a plethora of free-to-access features for its users. Features include GPS aerial mapping on more than 36,000 courses worldwide, more than 100 tour-level performance metrics and MyStrategy – the data-driven strategy builder.

Christopher Kennedy, Director of Venture Debt at Virgin Money, said: “Shot Scope is an established leading technology company within the golf market and has been a valued client within our venture capital portfolio of high-tech companies for the past three years. During that time we have built a strong relationship with the team at Shot Scope and we are pleased to provide this follow-on funding as the business continues to grow. It is exciting to see what the future holds as Shot Scope’s extensive product range continues to grow in popularity in markets around the world.”

Kerry Sharp, Director of Entrepreneurship and Investment at Scottish Enterprise, said: “Shot Scope continues to achieve impressive milestones with its innovative golf technology. As a long-standing investor, we are excited to see the company making progress towards its global scale ambitions.”