DLA Piper has advised elite sports technology company Catapult Group International Limited (ASX:CAT) on its successful AU$25 million institutional placement to fund its growth strategy.

The net proceeds from the placement will be used to fund growth strategies for Elite Sales (specifically focusing on growth in the Americas, Europe and Asia, as well as investing in additional software development and a new technology stack). 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 DLA Piper team was led by Corporate partners David Ryan and Joel Cox with senior associate Kelly Morrison and solicitor Amina Karcic.

Joel Cox said: "We are pleased to have advised Catapult on this latest transaction. This is a positive outcome and enables the expansion of market share for both their Elite and Prosumer offerings."

Catapult has grown from a small Australian start-up, to become a global category-leader in elite sports technology over the past decade. Catapult has over 300 staff based across 16 countries worldwide, working with over 1520 elite teams from 35 different sports globally.