Kizik, the footwear manufacturer, and its parent, HandsFree Labs, Inc., announced completing a $20 million Series B funding round.
Kizik will use the funds to launch a Kizik Kids line and create a retail footprint with Kizik stores.
The funding round was led by The Newcastle Network, a consumer-focused private equity fund.
“Hands-free shoes are what we do,” said Monte Deere, CEO, Kizik. “Kizik’s easy-on shoes provide our customers with industry-disrupting convenience and comfort, and those customers choose Kiziks as their everyday shoes. Kizik’s partnership with The Newcastle Network will help us expand our Kizik product and reach a wider audience.”
“We were drawn to Kizik because of their unique approach to a category that’s seeing tremendous momentum, paired with the unparalleled integrity, drive and innovation of their team,” said Chris Casgar, managing partner, The Newcastle Network. “Kizik delivers on a new level of simplicity, comfort and quality for the people who don’t want to compromise total ease with great style in their everyday life. With this new investment, Kizik has the profound opportunity to reshape the footwear industry and support more people nationwide with effortless, amazing products.”
HandsFree Labs, Inc., based in Lindon, UT, previously entered an intellectual property licensing partnership with Nike.
