By CultureBanx Team
- Hyperice has a new deal with the NFL, pushing the company closer to a $1B valuation by 2021
- NBA stars like Anthony Davis, along with Naomi Osaka and NFL quarterback Patrick Mahommes are touted as Hyperice investors
Hyperice, the company whose products help athletes with training and recovery has a new deal with the NFL, pushing the company closer to unicorn status along with a $1 billion valuation by 2021. With NBA stars like Anthony Davis, Blake Griffin, Russell Westbrook, and Chris Paul, along with 2020 U.S. Open tennis champion Naomi Osaka and most recently Patrick Mahommes are touted as Hyperice investors, this NFL deal will be extremely lucrative. The Sports technology sector that’s set to reach a market size of $34 billion in 2025 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.
Why This Matters: Back in October, Hyperice completed a series A funding round for $48 million at a $700 million valuation. The sponsorship deal with the NFL is a multiyear pact that will make the company the league’s first “recovery technology partner.” Other professional leagues including the NBA and MLB, and the PGA Tour all have sponsorship deals with the Hyperice.
Other professional leagues including the NBA and MLB, and the PGA Tour all have sponsorship deals with the Hyperice
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: Though terms of the deal were not provided, NFL teams will also have access to Hyperice’s array of products, including its Normatec compression system.
CBx Vibe: “Unicorn Purp” Future