- General
- October 8, 2020
- 4 minutes read
Hyperice Scores $48 Million Round
Tennis star Naomi Osaka chipped into Hyperice’s new funding round. Photo credit: pmenzel86, licensed under CC BY-SA 2.0 Hyperice, an Irvine, California-based company…
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| Tennis star Naomi Osaka chipped into Hyperice’s new funding round.
Photo credit: pmenzel86, licensed under CC BY-SA 2.0
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Hyperice, an Irvine, California-based company that makes performance recovery products for athletes, has announced that it’s secured $48 million in funding from a group of investors including the US National Basketball Association (NBA), 32 Equity, an investment arm of the National Football League (NFL), and athletes including tennis star Naomi Osaka, professional golfer Rickie Fowler, and basketballers Trae Young, Anthony Davis, Russell Westbrook, and Seth Curry, among others. The new investment values Hyperice at $700 million, multiples of the company’s previous valuation of $10 million in 2015. Before now, Hyperice, which says it expects revenues of up to $200 million this year, had raised just $4.5 million in funding.
Hyperice makes performance recovery products targeted at athletes and general fitness enthusiasts. The company’s flagship product is the Hypervolt, a massage therapy device that starts at $300. Hyperice has made good strides as the official recovery technology partner of the NBA, Ultimate Fighting Championship (UFC), and English soccer club Tottenham Hotspur. The company says it’ll use its new capital to accelerate its growth and product development.
In total, 17 well-known athletes participated in Hyperice’s new funding round. Before now, the company has secured investments from among others basketballer Blake Griffin and alpine ski racer Lindsey Vonn. Given that they both backed Hyperice at a time when it was valued in the low millions, they could be looking forward to juicy returns in the case of an exit as Hyperice’s private valuation has soared to $700 million.
