A developer of therapy devices for athletes is now worth $700 million thanks to superstar backers like Naomi Osaka
A crew of high-performing celebrities have come together to invest $ 47.8 million in Hyperice, a medical device developer designed to help gamers and fitness fans recover after exercising or gaming.
The company is backed by some of the biggest names in baseball, basketball, soccer, surfing, and tennis including: Seth Curry, Anthony Davis, Rickie Fowler, DeAndre Jordan, Jarvis Landry, Patrick Mahomes, Christian McCaffrey, Ja Morant, Naomi Osaka, and Chris Paul, Doc Rivers, Ben Simmons, Kelly Slater, Fernando Tatis Jr., JJ Watt, Russell Westbrook and Trae Young.
The new investment, valued at $ 700 million for the Irvine, Calif. Based company, will be used for sales, marketing and product development, according to a company statement.
And it wasn't just the players who were the investors behind the sports medicine technology developer. The investment arms of the country's largest sports leagues also support Hyperice. This group includes 32 Equity who lead strategic investments for the 32 member clubs of the NFL. OneTeam, an investment group for the players' associations representing baseball, basketball, soccer, soccer, and tennis; and the NBA itself.
Financial advisory and investment firms Main Street Advisors and SC Holdings led the way, according to a statement.
In addition to the new money, Hyperice has forged some key partnerships as the official recovery technology partner of the NBA and UFC leagues.
Photo credit: Hyperice
"We launched Hyperice to not only improve athlete performance and longevity, but also bring the same level of technology to everyday people," said Anthony Katz, the company's founder, in a statement. "Over the years we've built strong relationships with the athletes who use our products every day. Bringing them into the company as investors was a natural fit because of the authentic connection athletes have with our brand."
The next big step for the company is a software service to monitor and manage an athlete's performance and recommend optimal rest and recovery times based on information obtained from integrated wearable devices and services such as Apple Health and Strava.
"Since using Hyperice, I've realized the importance of recovery in order to get the most out of my training and prepare my body for competition," tennis superstar Naomi Osaka said in a statement. "Hyperice has improved my body and overall health and I know this will be fundamental to a long and healthy career. That's why I've invested and want to use my platform to encourage every athlete to take recovery seriously. "
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