The NBA is no stranger to innovation, and its latest investment in Videocites is just another example of their commitment to staying at the forefront of cutting-edge technology.

Videocites is a social media analytics firm that has been around for almost a decade, and have now secured a US$10 million in a Series B funding round, led by Velocity Capital and NBA Equity.

Videocites started as a visual searching company, but they have since expanded to include copyright protection, image and video fingerprinting, and social media monitoring and analytics.

The NBA has been utilising their services to track user-generated content and gain valuable insights into what generates fan interest on social media.

Commenting on the investment, head of NBA Equity, David Lee, said: “We’re excited to collaborate with Videocites to better understand how user-generated content resonates with our fans.”

“This partnership and our investment in Videocites reflect our commitment to continue to grow and embrace our fans across the ever-evolving global social media landscape,” he said.

Videocites CEO, Eyal Arad, added: “User habits across social media have a significant impact on shaping public perception of any organisation.”

“We are turning that ‘perception’ into quantifiable data,” Arad said.

The latest round of funding will also allow Videocites to expand its presence in the United States and Europe and hire additional salespeople.

The company has not disclosed the valuation of the business through the VC round, but it is clear that they are poised for significant growth in the coming years.

Additionally, the latest round of funding includes investment from Infront Sports & Media AG, a Swiss sports media rights and sponsorship outfit owned by China’s Wanda Group.