Two months after announcing a strategic shift from being a sports recovery brand to a holistic high-performance wellness one, Hyperice continues its growth and evolution following new investments from Boston Celtics forward Jayson Tatum, Edmonton Oilers center Connor McDavid, four-time PGA Tour major champion Rory McIlroy, Golden State Warriors guard Klay Thompson, and Formula 1 driver Daniel Ricciardo.
Also part of the latest group of athlete investors are: two-time PGA Tour winner Tony Finau, St. Louis Cardinals third baseman Nolan Arenado, Oakland Athletics third baseman Matt Chapman, Los Angeles Angels outfielder Justin Upton, 11-time PGA Tour winner Sergio Garcia, 2016 World Series champion Dexter Fowler, professional BMX athlete Nigel Sylvester, trainer/performance specialist Joe Holder, and Faze Clan co-owner Nicholas “Nickmercs” Kolcheff.
Hyperice did not disclose the stakes each athlete took in the company or the amount of their investments.
“The obvious reason for me is because it’s organic and it’s something I find beneficial to myself and my everyday needs being a professional athlete trying to always improve my game and recovery,” says Tatum, a two-time NBA All-Star. “Taking care of our bodies is just as important as everything fans see us do on the court.
“It’s not just for professional athletes or amateurs, it’s for everyone who is looking for new and better ways to improve their body and mind. I think they’re doing a great job and I’m just excited to be a part of it and help continue with that expansion to touch and reach everyone we can.”
Hyperice, which surpassed $200 million in gross revenue in 2020, is expected to eclipse a $1 billion valuation this year. Founded in 2010 by Anthony Katz, Hyperice raised $48 million in a Series A round, that included investments from the NFL and NBA, in October 2020 at a $700 million valuation.
The latest group of athlete investors join Hyperice’s ever-expanding roster of athlete partners and investors including: Kansas City Chiefs quarterback Patrick Mahomes, four-time Grand Slam singles tennis champion Naomi Osaka, Borussia Dortmund striker Erling Haaland, former World Cup and Olympic alpine ski racer Lindsey Vonn, San Diego Padres shortstop Fernando Tatis Jr., Olympic medal-winning gymnast Laurie Hernandez, and Memphis Grizzlies guard Ja Morant.
Hyperice is the official technology recovery partner of the NBA, MLB, NFL and NWHL.
Hyperice’s next phase announced on September 7 was spurred by the July acquisition of mental wellness company Core, marking its third acquisition in 18 months following NormaTec (March 2020) and RecoverX (January).
“We have a lot of brand buzz and awareness around the pro athletes and leagues, but at the end of the day, the brand is for everybody,” says Hyperice CEO Jim Huether. “That’s what we’re so inspired to do as a company—we believe we can be a very impactful global wellness company, and we think we can advance human performance not only for the athlete but the person in the workforce, the person who is a dad who wants to pick up their kid, and the person who wants to do the things they love.
“We feel we have the most diversified product offering in the wellness space there is right now and we’re continuing to push the limits on that.”
Hyperice offers products ranging from hand-held percussive massagers like the Hypervolt to NormaTec’s restorative leg massagers and contrast therapy device Hyperice X.
In August 2020, the company announced HyperSmart, a connectivity app engine and ecosystem that curates activity data and recommends routines, exercises, meditations and stretches guided by world-class athletes and wellness thought leaders utilizing the brand’s suite of products and programs for users’ optimal mental and physical wellbeing and performance.
“This ecosystem for us is a big part of our future,” Huether says. “It really amplifies people’s understanding of the products—how they can use them, why they can use them—and also allows us a lot of opportunities to educate new consumers as well.”
Expanding its global reach is also a major priority for Hyperice, particularly heading into 2022, by leveraging international stars and strategic investors including Osaka, Haaland, McIlroy, McDavid, Ricciardo and cricketer Virat Kohli. Hyperice products are sold in 60 countries around the world.
The brand has global partnerships in China with the NBA and Leagues of Legends Pro League, as well as with the New Zealand national rugby team All Blacks, South Africa national rugby team Springboks, Mexican Football Federation, and Tottenham Hotspur.
For the 23-year-old Tatum, the investment was a win-win because not only is he a daily user of Hyperice products like the Hypervolt especially during the NBA season, but he understands the importance of diversifying his portfolio and investment off the court knowing the average NBA career length is just 4.5 years.
“We all hear the saying that ‘The ball’s going to stop bouncing one day,’ and that is very true,” Tatum says. “While I’m still early in my career and I don’t necessarily think about that every day, it’s something to keep in the back of your mind.
“Something especially like this being so organic and being so special to me and something I really, really think is important, especially in my day-to-day activities, I want to help expand it and be able to help grow so other athletes and everyday consumers can have the access to something like this because I know first-hand how it’s helped with my body and my career.”