Veo Technologies ApS

Denmark · owned by Independent (Denmark) · veo.co · 51 vendors

Veo develops AI-powered sports cameras that automatically record, analyze, and livestream matches for teams of all levels. Their flagship products include the Veo Cam 3 and Veo Go systems that use artificial intelligence to follow the action and provide post-match analysis tools.

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Last updated 2026-09-13 · revision 6

51 direct vendors, 416 subvendors

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Migration Readiness: 7/10

Assessed by AI based on technology stack characteristics (cloud-native vs legacy, containerization, microservices), regulatory environment, data residency requirements, financial stability, and vendor lock-in risks. The score ranges from 0-10, where higher scores indicate better readiness for technology migration.

The company's reliance on modern technologies like Cloud Computing, AI, and Mobile App Development suggests a cloud-native architecture that is generally easier to migrate than monolithic legacy systems. However, migration readiness is tempered by 'data gravity'—the sheer volume of high-definition video data generated by their cameras—which makes data transfer slow and costly. Additionally, strict GDPR compliance requirements as a Danish company necessitate careful handling of data residency during any migration. The integration of 40 external services adds complexity to the migration mapping process. Strong financial growth ensures the company has the resources to fund complex migration projects.

Compliance

3 in-scope frameworks identified; showing 3.

GDPR (source) — Assessment Required

Veo Technologies is headquartered in Denmark (EU) and processes personal data through sports video recordings, user accounts, and analytics.

GDPR is mandatory for all EU companies processing personal data. As a Danish company (EU/EEA) offering sports technology services that likely process customer data, employee data, and video recordings containing personal information, GDPR compliance is critical. Non-compliance can result in fines up to 4% of annual turnover or €20 million. The sports technology industry involves significant personal data processing through video recordings, user accounts, and analytics.

SOC 2 (source) — Assessment Required

As a SaaS provider processing customer video and analytics data, SOC2 is a standard industry expectation for security assurance.

As a cloud-based sports technology platform processing customer data and providing SaaS services, SOC2 compliance would be valuable for demonstrating security controls to customers. While not legally mandatory, it's increasingly expected by enterprise customers and helps mitigate security risks and customer trust issues.

ISO 27001 (source) — Assessment Required

Relevant for any technology company managing information security for cloud-based services and personal data.

ISO 27001 is not legally mandatory but is highly recommended for technology companies handling personal data and providing cloud services. It demonstrates systematic information security management, which is increasingly important for customer trust and may be required by enterprise clients. Risk is moderate as it's voluntary but beneficial for business operations.

Financials

Three-year financials

Financial Resilience Score: 6/10

Veo Technologies ApS demonstrates high growth but continues to operate at a loss, which is typical for venture-backed sports technology scale-ups. In 2024, the company significantly improved its operating performance, reducing its EBIT loss from -178.6M DKK to -46.7M DKK, a 73.9% improvement. Revenue grew by 30.1%, reflecting strong market demand for its AI-powered camera systems. Despite these gains, the company's equity ratio remains under pressure, dropping to 35.6% in 2024, and it has a high bankruptcy risk score of 4.97% according to credit analysis reports. However, the company's resilience is supported by substantial venture capital backing, including an $80 million Series C round led by ATP in 2022. This capital provides a necessary buffer while the company scales its operations and shifts toward a higher-margin SaaS subscription model. The quick ratio of 1.5x indicates adequate short-term liquidity, suggesting that while profitability is still elusive, the company is well-positioned to meet its immediate obligations and continue investing in its international expansion, particularly in the U.S. market.

Key strengths: Robust revenue growth (30%+ year-over-year), Significant narrowing of operating losses (EBIT), Strong venture capital backing ($115M total), Market leadership in AI-powered amateur sports recording

Risk factors: Negative net earnings and continued operational losses, High dependency on capital injections for expansion, Decreasing equity ratio and low solidity, Competition from established sports video analysis firms

Revenue by geography

Revenue by product/service

Workforce by country

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