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Saturday, June 22, 2024

Art of Raising Money

Art of Sport
Art of Sport

Personal care brand Art of Sport has raised an additional $6 million in capital in a round that included Dallas Mavericks owner Mark Cuban. The round was led by CircleUp Growth Partners.

The late Kobe Bryant co-founded the company, which produces skin care products like soaps and lotions for athletes, in 2018. Several athletes have equity in the company, including U.S. women’s national team and NWSL player Abby Dahlkemper, NBA player James Harden, MLB player Javier Baez, motocross rider Ken Roczen, NFL player JuJu Smith-Schuster, skateboarder Ryan Sheckler, and NBA player Wilson Chandler.

With the new round of funding, Art of Sport will look to further expand its retail footprint, develop new products and drive brand awareness. The men’s personal care sector is projected to grow to $166 billion globally by 2022, according to Allied Market Research.

Art of Sports Fast Facts:

  • Introduced 14 products into 1,600 Target stores this year.
  • Quadrupled its annual revenue in its second year.
  • Expects to expand retail footprint 600% by end of 2021.
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