<article>New Zealand-based <a href="https://www.dealstreetasia.com/?s=CricHQ" target="_blank" rel="noopener">CricHQ</a>, a digital platform that offers performance insights for coaches and players, that is backed by Singapore&#8217;s Tembusu Partners, as well as several prominent cricketers, has been placed in receivership after it failed to raise follow-on funding to sustain operations.</article>

New Zealand-based <a href="https://www.dealstreetasia.com/?s=CricHQ" target="_blank" rel="noopener">CricHQ</a>, a digital platform that offers performance insights for coaches and players, that is backed by Singapore&#8217;s Tembusu Partners, as well as several prominent cricketers, has been placed in receivership after it failed to raise follow-on funding to sustain operations.
The company, which counts ex-cricketers Brendon McCullum and Stephen Fleming as shareholders, has appointed Brendan Gibson and Neale Jackson from KordaMentha as receivers to find a buyer, according to several media reports. The reports also added that CricHQ had been looking to raise $10 million at a valuation of $70 million.
Founded in 2010, by former Karori club captain Simon Baker, its revenue model involved charging for subscription, and from advertisements on its platform. It had started as a cloud-based cricket scoring platform and expanded into administration and a scoreboard and statistics platform as well as data collection and predictive scoring.
The company, that had about 22 staff in New Zealand, as well as subsidiaries in the UK and India, had also recently ventured into cricket content and competition management, to enhance its revenue streams.
Last year, CricHQ raised $10 million from Singapore-based private equity firm <a href="https://www.dealstreetasia.com/?s=Tembusu+Partners." target="_blank" rel="noopener">Tembusu Partners.</a> The company used the proceeds to hire senior professionals. Prior to that, the cricket digital firm had received about $11.2 million in venture capital from angel investors.
In December 2016, Kevin Roberts, former Saatchi &amp; Saatchi executive, had joined the board of the company.
&#8220;Innovation, technical development and new business wins&#8221;, the company had been unable to attract sufficient investment capital to fund its &#8216;accelerating growth&#8217;,&#8221; Roberts said in a statement.
Also Read:
<a class="tinymce-colortext" style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/45722-45722/" target="_blank" rel="noopener">Exclusive: With $10m funding, CricHQ plans to power cricket through data</a>
<a class="tinymce-colortext" style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/tembusu-partners-invests-10m-in-cricket-digital-platform-crichq-7939/" target="_blank" rel="noopener">Tembusu Partners invests $10m in cricket digital platform CricHQ</a>
&nbsp;

New Zealand-based CricHQ, a digital platform that offers performance insights for coaches and players, has been placed in receivership.

Tembusu Partners-backed cricket digital platform CricHQ goes into receivership

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Tembusu Partners-backed cricket digital platform CricHQ goes into receivership

Continue reading this premium story with a subscription to DealStreetAsia.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief