Hyperice lands NFL deal as it moves closer to a $1 billion valuation

[ad_1]

Patrick Mahomes # 15 of the Kansas City Chiefs makes a pass during the game against the Baltimore Ravens at M&T Bank Stadium on September 28, 2020 in Baltimore, Maryland.

Tod Olszewski | Getty Images

Sports tech company Hyperis signed off with the National Football League to launch its last major 2020 partnership, the company announced on Tuesday. The company says the agreement will help it reach a $ 1 billion valuation by next year.

The sponsorship deal with the NFL is a multi-year agreement that will make the company the league’s first “recovery technology partner”. Hyperis, which builds equipment that helps recover muscle, will provide in-game recovery devices to NFL teams and players and have a presence at the league’s annual scouting combination in Indianapolis.

Terms of the deal were not provided.

In an interview with CNBC on Monday, Hyperais CEO Jim Huther said the agreement with the NFL “helps us make the situation long-term” [technology recovery] Category leaders and gives us elite athletes and the ability to create greater brand awareness and exposure. “

“The NFL sign is a powerful and important mark, and we have the ability to use the mark in brand campaigns,” he said, watching the TV exposure of players using equipment on the sideline helping brand exposure and company sales Will get

Hyperis specializes in performance recovery products including its massage devices, which target soft tissue pain and muscle recovery for athletes. In October, the firm raised $ 48 million in a Series A funding round, which Huether put Hyperice at a valuation of $ 700 million by CNBC.

Huther called the NFL agreement “a natural alignment because there is an equity investment interest in the NFL,” he said.

Other investors in the company include Kansas City leading star quarterback Patrick Mahomes, the National Basketball Association, Major League Baseball, the PGA Tour and the UFC.

“We are thrilled to welcome Hyperis as an official recovery technology partner for the NFL family,” Renee Anderson, NFL CRO and Executive Vice President of Partnerships, said in a statement. “With this partnership in place, Hyperis products will be available in all 32 club facilities, providing access to the very best recovery technology to help our players perform at the highest level.”

For the NFL, in-game recovery products will include Hyperis’ “Hypervolt” massage equipment and its “Venom” products. These wearable devices add heat vibration to areas of the shoulders, legs and back.

NFL teams will also have access to Hyperis’ products, including its Normatec’s compression system, which helps athletes with the recovery of muscle tissue before and after the games.

Hyperice will use funds from its $ 48 million Series A to expand its new Bluetooth and artificial intelligence platform, the HyperSmart app.

Source: Hyperacus

The HyperSys sponsorship deal with the NBA in July included hypervolt massage under each player’s seat during the game.

“For us, what was different about these partnerships in in-game technical integration,” Huther told CNBC on Monday. “I think we’ve reinvested and unlocked a new model for the Sports Tech Marketing Partnership, in which we have a product that optimizes game performance. If you increase performance in a game, you Are better performers. “

Hyperice launched its new product, the “Hypervolt Go” ($ 199), a smaller, portable version of the Hypervolt massager, which costs about $ 330.

“It’s a little more accessible and affordable for everyone,” Huther said, adding the company has its biggest month of sales coming in October and expects to double in December.

He said that Hyperis expects to get a $ 1 billion valuation in the next few months. Huether said the company would not seek another funding round because it is profitable and said it could pursue an IPO.

“All options are available,” Huther said. “We can do an IPO, acquire more companies or stay private and continue to expand our technology. It’s open to us right now.”

[ad_2]
Source link

Leave a Reply