PowerDot Receives Significant Investment from NEXT VENTURES
CARLSBAD, Calif., Jan. 16, 2019
CARLSBAD, Calif., Jan. 16, 2019 /PRNewswire/ -- NEXT VENTURES™, a recently launched venture capital firm designed to maximize growth opportunities in the exploding sports, fitness, nutrition and wellness markets, today announced a significant lead investment in PowerDot, the world's first app-based, smart muscle stimulation device, designed to provide increased wellness, recovery and performance enhancement.
NEXT VENTURES, founded by Lance Armstrong, a globally known cyclist and endurance athlete, and investment industry veteran Lionel Conacher, is the lead investor in the Senior Seed Round. A former CEO and experienced board member, Conacher will assume a seat on PowerDot's Board of Directors to provide important operational and financial advice.
"Our first investment in PowerDot illustrates our unique access to early-stage technologies designed for human optimization that have the potential to catapult from the specialized elite athlete market to the mass market," said Lance Armstrong, NEXT VENTURES' managing partner. "We invested in PowerDot because we believe they have the power to bring a highly effective, but previously inaccessible, technology to a much broader market of anyone seeking increased performance, greater recovery and enhanced overall health. This reflects our firm's expertise and passion."
PowerDot is the fastest growing brand in its category and recently launched its second-generation product, PowerDot 2.0, which allows users to personalize their experience and track their data all in one place. The team's authentic roster of ambassadors includes the likes of professional cyclist Lawson Craddock, Olympian and World Champion hurdler Georganne Moline, former U.S. Navy Seal and four-time CrossFit Games veteran Josh Bridges and Nike Master Trainers Joe Holder and Kirsty Godso.
"PowerDot was founded as a way to bring a modality that was once reserved for those that had the resources to the masses," said Eric Glader, PowerDot founder and CEO. "The moment I met Lance, it was clear that he was not only an advocate of our product, but of our greater mission. We are honored to partner with such an inspiring and authentic team of elite athletes and professionals to strengthen our innovation and growth."
EMS benefits range from increased performance and injury prevention to recovery, muscle balance and overall strength. Historically this beneficial treatment has only been available to elite athletes via expensive machines, but PowerDot's wireless, compact and lightweight features make it accessible to the everyday fit consumer. To learn more about PowerDot, please visit www.powerdot.com.
PowerDot is the world's first mobile and wearable smart muscle stimulation device; a powerful training and recovery tool that puts the therapeutic benefits of EMS (electronic muscle stimulation) at your fingertips. EMS uses electrical impulses to cause the contraction of targeted muscle groups. Used by elite athletes, professional trainers and physical therapists for decades, PowerDot now brings the proven benefits of EMS to everyone seeking increased performance, faster recovery, and enhanced overall health. Linked to your Apple or Android smartphone with a dedicated app, PowerDot is an easy-to-use wireless system optimized for the modern mobile lifestyle. To learn more, please visit www.powerdot.com.
About NEXT VENTURES
NEXT VENTURES is an Austin-based venture capital firm designed to maximize growth opportunities in the exploding sports, fitness and wellness markets. With established expertise and deep connections in these markets as well as proven financial track records, the NEXT VENTURES team is well positioned to create significant value for their portfolio companies. For more information visit www.nextventures.com.
Molly Early, TURNER PR