New Zealand Cricket & the Associate countries got a shock news that the loss-making firm, CricHQ was put into receivership on Tuesday after running out of options to raise more working capital.
CricHQ developed a cloud software platform in 2010 that automated the scoring of matches and invested a total of $20 million in the software to keep it running.
CricHQ employs 22 staff from its base in Kelburn in Wellington and also has offices in India and Bristol, England.
CricHQ have exclusive scoring partnerships with many Associate countries in Asia-Pacific, African, Americas & European regions. If the company shuts down, it will be a huge blow to find an alternate solutions provider on short notice and may have to get back to pen & paper scoresheet for the time being.
CricHQ chairman Kevin Roberts said in a statement on Tuesday that despite “innovation, technical development and new business wins”, the company had been unable to attract sufficient investment capital to fund its “accelerating growth”.