By Erica Johnson
- Patrick Mahomes joins Hyperice as an equity partner and ambassador
- Hyperice just completed a series A funding round for $48M at a $700M valuation
Super Bowl LIV MVP and quarterback for the Kansas City Chiefs, Patrick Mahomes has stepped into the sports tech arena as an equity partner and ambassador for Hyperice. The company whose products help athletes with training and recovery is attempting to cash in on the sports technology sector that’s set to reach a market size of $34 billion in 2025. It’s no wonder that athletes like Mahomes want in on this action with Hyperice, especially since it just completed a series A funding round for $48 million at a $700 million valuation.
Why This Matters: While Mahomes is also an ambassador for Hyperice, he was not the only Black athlete to see an opportunity to invest. NBA stars like Anthony Davis, Blake Griffin, Russell Westbrook, and Chris Paul, along with 2020 U.S. Open tennis champion Naomi Osaka have also invested. Sports technology is not just a growing opportunity for Black athletes to invest in. It’s a chance to take ownership of a piece of the sports industry that profits off their talents.
NBA stars like Anthony Davis, Blake Griffin, Russell Westbrook, and Chris Paul, along with 2020 U.S. Open tennis champion Naomi Osaka have also invested
For Hyperice, the acquisition of NormaTec’s compressions system in March 2020, which aids athletes in muscle tissue recovery is no doubt part of the company’s recent success. Mahomes, who has used Hyperice products since his early days at Texas Tech University, this partnership will also allow the company to use his likeness and image to expand globally. Hyperice has already been expanding and back in September became the official recovery technology partner for the UFC. During the same month the company partnered with the National Women’s Hockey League.
Situational Awareness: Let’s not forget that Mahomes signed the richest contract in sports history this summer, worth approximately $503 million over the next 12 years. He used some of those funds to become a minority owner of MLB’s Kansas City Royals. Additionally, Mahomes is an investor in and ambassador for BioSteel Sports Nutrition.
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