Mendi, a women-owned sports recovery brand, closed its first round of financing, securing $800,000 from a varied network of investors including Oregon Sports Angels, professional athletes and sports medicine practitioners.
This round of funding will help Mendi, headquartered in Portland, OR, execute a clear path to profitability, build their athlete ambassador program, and support their 2020 Olympians.
“We believe everyone deserves a seat at the table, and we made every extra effort to figure out an investment model that works for our athletes,” said Rachel Rapinoe, CEO of Mendi. “It may have taken us a couple of months longer to close the round, but it’s worth every second to go the extra mile in order to build a roster of investors and advisors that align with our brand and personify the story we are telling to the world.”
Mendi said it continuously fights for equality and equity in work environments across all industries and makes a concerted effort to invite diversity to the table, which is why partnering with OSA is a great alignment.
“Mendi has defied the odds in the first round of financing by securing funds from underrepresented investors,” said Rapinoe. “Our first financing round is closed thanks to this diverse array of funders.”
Mendi is set to grow its athlete-built and driven company with the right partners and input from athletes, which means better insight into their product offerings and eventual 2020 product development pipeline. With their plans to strengthen and broaden brand awareness, along with the powerhouse roster of multi-sport athletes, Mendi is building a foundation to become the go-to sports recovery brand.