Black-Owned Sports Tech Platform Receives ‘Multimillion-Dollar Investment’
Black woman-owned sports tech platform PowerHandz has closed a “multimillion-dollar investment” with one of the world’s largest investment companies, Vanguard Holdings Group.
In 2021, the company announced its merger with PH Innovation Holdings. The partnership enabled PowerHandz to feature some of its performance products and training content in the multi-sport training app’s live stream, reaching a more comprehensive range of youth, coaches, and parents worldwide.
The platform received a multimillion-dollar capital injection from Vanguard Holdings Group a year later. Vanguard has also made a private tender offer to the tech company, which will potentially see them purchase all the issued and outstanding shares from minority shareholders providing liquidity to the longstanding stockholders of PowerHandz.
“We could not be more pleased to welcome POWERHANDZ into our portfolio of brands,” said Kenneth Alexander, Principal, Vanguard Holdings Group.
“We have watched Danyel’s leadership break barriers and expand this brand under confined access. This alliance will allow us to utilize our capital resources to accelerate investments in growing the company. This partnership will allow us to reach more athletes and shift mindsets about overall performance, physically and financially.”
PowerHandz, co-founded in 2014 by Danyel Surrency Jones and Darnell Jones, is a global athletic training and rehabilitation tech company that works to improve human performance using innovative sports products, technology, and services to help support the lifecycle of athletes. The brand currently offers over ten innovative sports products sold in over 87 countries worldwide.
The products, which cover various topics from enhancing performance to aiding in recovery, have helped athletes and fitness enthusiasts of all different skill levels.
“We want to unapologetically disrupt the tunnel vision thought process of how you make an impact. You make an impact from a 360 perspective. So, that is next from PowerHandz – and the Vanguard Holdings Group and its partners that are acquiring us,” said Danyel Surrency Jones, co-founder and CEO of PowerHandz.
Jones hopes her journey building PowerHandz will inspire young Black girls and boys keen to embark on a career in sports technology.
