Recovery tech company Hyperice’s valuation has pulsed to $700 million after it completed its largest funding round in its history backed by the NBA, an equity fund composed of all 32 NFL clubs, and a slew of major athletes from Anthony Davis to Naomi Osaka.
This funding round, estimated at $48 million, was announced on Oct. 8 and follows partnerships made in recent months with the NBA, UFC and English Premier League’s Tottenham Hotspur, among others. Hyperice had raised $4.5 million in the decade since its founding until this deal, and the last money infusion five years ago set the valuation at $10 million.
The round was spearheaded by investment advisory firm Main Street Advisors and SC.Holdings, a private equity company focused on sports and entertainment space. [Editor’s note: SC.Holdings is an investor in Front Office Sports]