Irvine-based physical therapy device maker Hyperice Inc., whose portfolio of products are used by pro athletes and weekend warriors alike to soothe their aches and pains, has added to their bench of notable investor-athletes.
The company announced last week the addition of professional golfer Rory McIlroy, R1 racing driver Daniel Ricciardo, NHL player Connor McDavid, and NBA players Klay Thompson and Jayson Tatum to its ranks of equity investors.
Investment details were undisclosed.
“This new group of strategic investors will help to fuel Hyperice’s global expansion,” Chief Executive of Hyperice Jim Huether said. “Our international footprint continues to grow with products in more than 60 countries.”
The new investors join tennis player Naomi Osaka, Norwegian soccer star Erling Haaland, the NFL’s Patrick Mahomes and Indian cricketer Virat Kohli, among others, as strategic investors.
‘Redefining and Pushing’ Wellness
Founded in 2011, Hyperice is a wellness brand that develops muscle recovery devices. The company says its products use percussion, vibration and thermal technology to help relieve tension and sore muscles for optimal athletic performance.
Top-selling tools include the Hypervolt, a percussion massage device for tight muscles and stiff joints; the Vyper 2.0, a foam roller designed for runners; and the Venom Back, a heating pad for workout recovery.
Since July 2020, it has signed partnerships and sponsorships with the NBA, NFL and the PGA Tour, as well as the Los Angeles Lakers, Seattle Seahawks and Kansas City Chiefs.
The same year, revenue surpassed $200 million, up 50% from 2019.
While Hyperice’s 2021 revenue remains undisclosed at this point, it’s expected to eclipse a $1 billion valuation this year, according to Forbes.
The company, which currently employs 160 workers, reportedly has no imminent plans to go public.
Local Roots, Global Reach
Earlier this year, Hyperice made its third acquisition in less than two years: Core, the inventor of a meditation app that tracks heart rate and stress levels. The buy is part of its expansion beyond physical wellness, the company said.
Other acquisitions include Normatec, which develops a leg recovery compression device, and RecoverX, a maker of intelligent thermal technologies.
Core’s founder and CEO, Sarah McDevitt, now heads the newly established Mind Technology Division at Hyperice.
“For a decade, Hyperice has focused on helping people move better through a suite of performance technology that helps everyone be at their best. We’ve heard from both our elite and everyday athletes that mental wellness is critical to performance, so it was a natural evolution into the mental wellness category,” Huether said in July.
Prior to joining Hyperice, Huether served as the Executive Vice President of Development for Xenith LLC, a sports health and technology company that developed head protection for athletes, and the Sports Concussion Institute, a medical research and treatment center focusing on sports concussions.
