Hyperice recently partnered with Spurs and UFC, but who are they? Lona Price Jones takes a closer look.
Move over athlete endorsements, it’s athlete investment time. The days of athletes slapping their name on various products or ads are being left behind.
Over the past few years athlete venture capitalists have become a new norm.
The question of “What comes next?” is not being left to their final year, season, or retirement. Mid-career, athletes are making financially smart decisions. Investing, advising, and sharing their expertise and most importantly using their platform, and own personal brands to elevate and invest in sports technology and business firms.
A notable example from the past few weeks is sports recovery and technology company, Hyperice. The latest funding round for the firm led Hyperice to the valuation of $700 million - only five years ago it was valued at $10 million.
So, what changed?
Funding - An incredible funding round led by Main Street Investors and SC. Holdings - estimated at $48 million.
Athlete and league investment - Hyperice has a roster of fifteen athletes that have chosen to invest in the brand. Including Naomi Osaka, Anthony Davis and Patrick Mahomes. It also has the backing of OneTeam - which is comprised of the NFL Players Association, MLB Players Association and RedBird Capital.
Partnerships - In September, Hyperice added to their partnership with the NBA, by announcing deals with the UFC and Tottenham Hotspur. As well as increasing visibility of the product, the partnerships aim to educate fans on the importance of prioritising warm up and recovery to optimise performance.