HeroWear, a private startup specializing in occupational exosuit solutions, announced $5 million of Series A funding from White Road Investments. The company is partnering with Engage to accelerate its work with top enterprises.
HeroWear plans to use the funds to advance product development and expand its team to continue delivering high-quality client service and onsite training for the growing install base of its Apex 2 exosuit. Launched in 2019, HeroWear has experienced rapid growth, doubling the company’s revenue each year.
Overexertion could cost workers their health and cost companies billions of dollars each year. And the exosuit manufacturer aims to improve the quality of life of workers worldwide, helping to reduce fatigue and discomfort by deploying occupational exosuits across industries, including logistics, manufacturing, warehousing, food & beverage, retail, etc. The Government Accountability Office (GAO) recently called for OSHA to address overexertion concerns and improve standards around ergonomics to prevent lifelong musculoskeletal disorders (MSDs).
HeroWear’s Apex 2 exosuit is one of the most scientifically and academically validated on the market. And elastic bands in the exosuit serve as an extra set of back muscles to assist workers who lift and bend repetitively, reducing strain by 20% to 40%. A recent study of exosuit users through over 281,000 hours of work shows the exosuit reduced back injuries to zero.
Engage is a collaborative innovation and corporate venture program that is backed by 14 industry-leading enterprises and Georgia Tech. And their partners include Chick-fil-A, The Coca-Cola Company, Cox Enterprises, Delta Air Lines, Georgia-Pacific, Georgia Power Foundation, Georgia Tech, Goldman Sachs, The Home Depot, Inspire Brands, Intercontinental Exchange, Invesco, RaceTrac, Tech Square Ventures, Unum, UPS, and Wellstar.
White Road Investments was launched to invest in businesses that create lasting impact based on the five aspirations for the people, planet, communities, businesses, and brands they serve.
KEY QUOTES:
“I am excited about the opportunity to bring in two new capital partners who enable us to further our mission of helping workers across the world live happier, healthier lives. Through our partnership with Engage and White Road Investments, we look forward to accelerating our growth and expanding our sales and services teams to keep up with the demand we’ve seen in the market.”
– HeroWear Chief Executive Officer and Co-Founder Mark Harris
“We are thrilled to bring HeroWear into our program. They are making waves in the wearable safety technology space, and we are excited to be a part of the journey.”
– Engage Partner Bill Nussey
“We were drawn to HeroWear’s team, market-leading technology, and elegant product solution. Our team believes that the HeroWear exosuit has the potential to dramatically improve customers’ lives by reducing back strain in the workplace, and we look forward to partnering with the company in its next phase of growth.”
– Jason Winship, White Road’s Managing Partner
