Outdoor Tech Founder and CEO Caro Krissman has sold his shares to the brand’s lead investor and is on the prowl for his next CEO gig.
Krissman, 40, sold his remaining interest in the Los Angeles-based portable electronic accessory company last month to Rob Caulfield, an expert in electronic payments who acquired a stake in Outdoor Tech in 2012. Caulfield is founder, and remains CEO of, TrustCommerce, a credit card processing company.
Outdoor Tech Chief Operating Officer Charlie Gugliuzza, who has an MBA and law degree, has filled the CEO spot vacated by Krissman. Gugliuzza joined Outdoor Tech in 2012, when he came on board to monitor Caulfield’s investment while continuing to serve as director of corporate strategy for TrustCommerce.
Caro Krissman
Krissman founded Outdoor Tech in 2010 to design and make ruggedized Bluetooth audio accessories. Under Krissman’s tenure, the company grew distribution to more than 4,000 doors and 25 countries. Last September it was ranked #237 on the Inc. 500 List after growing revenue 1,869 percent to $8.3 million in the three years ending Dec. 31, 2014.
Though the brand developed a number of marquee products under Krissman’s management, the CHIPS universal helmet audio product was the one that best summarized the brand’s DNA and helped elevate Outdoor Tech’s stature. Most recently, it launched its first line of waterproof portable power products for use outdoors.
Krissman continues to serve as advisor and board member at Lumenus LLC, a Los Angeles company that has developed a line of LED embedded jackets and packs that automatically signals when a cyclist or pedestrian is preparing to turn using a GPS-enabled smartphone app.
Lumenus expects to begin shipping its first products this fall after wrapping up the final stages of software and hardware development, said Krissman, who is the startup’s largest shareholder.
“The response to the line has been strong and we continue to optimize the interaction between the app and the garments/packs to provide the optimal user experience and safety benefits,” Krissman told SGB Executive. “The brand will begin raising Series A capital over the next few months and my potential role there will be determined based upon the size of the round.”
In addition to an intense sprint with Lumenus over the next month where he will spend some time in Asia wrapping up hardware development, Krissman is talking with a number of brands — both legacy and small fast growth — in the industry about executive leadership roles.
“Though my golf game and yoga practice are improving, I am a junky for brand action and want to start helping pour fuel on the fire of another great brand,” he said.
