The international basketball federation FIBA has signed an Official Recovery Technology Supplier deal with Hyperice that extends into 2023, as both organizations look to grow on each other’s home court.
For FIBA, that means continuing to seek opportunities in North America, which FIBA media and marketing director general Frank Leenders called “a priority.” For Hyperice, the FIBA deal fits into an international growth push. “Our focus right now is to have a global mindset,” CEO Jim Huether said.
Hyperice products, like the Hypervolt percussion massage device, will be available at this summer’s FIBA Olympic qualifying tournaments. The partnership also covers upcoming World Cups, Continental Cups and youth championships. As FIBA continues to attack the US market, it also recently announced that Miami would host the first 3×3 AmeriCup in November.
Hyperice revenues grew 43% in 2020 with people embracing at-home workouts and therapies during the pandemic. In October, it announced a $48 million raise at a $700 million valuation, making it one of the largest companies in the growing athlete health tech space, which also includes the likes of Peloton, wearable fitness strap maker Whoop and Therabody, which like Hyperice, offers recovery tools including handheld massage guns. This is FIBA’s first partnership in the category.
Therabody and Hyperice have traded partnership salvos in recent months. Hyperice now has deals with the NBA, MLB, NFL, PGA and UFC, while Therabody has signed agreements with teams and athletes around the world. The FIBA deal is Hyperice’s first with an international sporting federation.
The companies also have their eyes on the upcoming Olympics, which will provide the biggest stage yet for their mindshare competition. Therabody recently added British gold medalist distance runner Mo Farah as an ambassador. Hyperice, meanwhile, will turn to spokeswoman and investor Naomi Osaka, who will be one of the most closely tracked Japanese athletes during this summer’s event. The company also hopes its FIBA deal will get basketball athletes familiar and comfortable with the product before they arrive in Tokyo.
“We’re still in the very early stages,” Huether said. “The space is growing rapidly.”