Athlete-Empowered CBD Brand, Mendi, Celebrates Closing $800K Seed Round
Mendi secures funds from diverse bench of investors, including Oregon Sports Angels
Nov 19, 2019, 11:00 ET
PORTLAND, Ore., Nov. 19, 2019 /PRNewswire/ -- Mendi, the athlete-built, women-owned sports recovery brand, closed their first round of financing, securing $800,000 from a deep and well-rounded portfolio of partners focused on growing the brand exponentially. These partners range from a varied network of investors including Oregon Sports Angels, professional athletes, sports medicine practitioners and many more. This round of funding will help Mendi execute a clear path to profitability, build their athlete ambassador program, and support their 2020 Olympians. Mendi is blazing the trail to become THE trusted name in CBD for elite athletes and everyday athletes.
Mendi's team has made a commitment to carving out a certain amount of the funds for female professional athletes. "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 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 Rachael 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.
About Mendi: Mendi's mission is to improve athletes lives using nature's best recovery tools. With a hemp CBD line that's USA-made from only the highest-quality, natural and 3rd-party tested ingredients, Mendi prioritizes health and safety with product development. Headquartered in Portland, Oregon amongst the sports brand heavyweights, Mendi is charting its own path to disrupt the status quo as a highly differentiated brand entering into a rapidly changing segment–sports x cannabis. For more information, please visit www.themendico.com.
SOURCE Mendi
