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VICIS Series C financing

6 investors are currently reviewing this opportunity

Time remaining: Pre-launch period


Deal Specifics

Series Raise: Series C Financing

Series Size: Targeting $25-35M

Valuation (Pre-Money): TBD

Secondary or Primary: Primary Offering

Management: Dave Marver, Per Reinhall and Sam Browd (see management bios)

Sponsor(s): Aaron Rodgers, Russell WilsonRoger StaubachSteve Singh (see VICIS Sponsors)


Awards & Media

View Our Coverage

VICIS Sponsors

Meet Our Advocates


VICIS is #1 in top industry tests

elite players love VICIS

ZERO1 varsity helmet ranked #1 in NFL/NFLPA Helmet Performance Testing 3 consecutive years (Click Here For Results)

ZERO1 Youth helmet is the best testing youth helmet in the history of Virginia Tech STAR Helmet Ratings (Click Here For Results)

ULTIM Cap for 7v7 and flag football is the best testing soft headgear in the history of Virginia Tech STAR Helmet Ratings (Click Here For Results)


2,700 teams added Since 2017

Penetration

Number of Teams / Programs purchasing VICIS football helmets (NFL/NCAA/High School/Youth)

NEW & HIGHER MARGIN PRODUCTS ARE COMING


NFL Season Opener

NFL 1st and Future


Financial Projections

VICIS Revenue & EBITDA ($M)

Revenue Mix

VICIS Revenue in 2023F ($150M)


Large (and growing) Market Size


profitability

Profit Margins (%)


We have 93 issued or pending patents worldwide

Capitalization table

 

Frequently Asked Questions ("FAQ")

 

1)   Has the ZERO1 helmet been used in play?

Yes. Last year in just our second year on field, the ZERO1 was used by players on 28 NFL teams, including the NFL MVP and Super Bowl MVP. The helmet was also worn by players on 125 NCAA programs and over 1,000 high schools last season. Adoption has grown rapidly: From 133 teams/programs in December 2017 to over 2,000 teams/programs as of June 2019.

2)   What is the player feedback on the ZERO1?

Feedback has been very positive, with over 97% of surveyed customers being pleased or extremely pleased with their purchase.  We work closely with NFL and NCAA equipment managers and players, implementing changes in response to feedback.  Prior to last season, we reduced both weight and cost, countering the principal issues we faced during our inaugural season.  Importantly, players told us they loved the helmet’s wide field of view (the industry’s widest) and its comfort.  They also told us it felt better during impacts.  This positive feedback is fueling greater penetration: Elite teams who placed initial orders and re-orders are buying on average ~3x larger than their original orders.

3)   How do you scale your sales channel?

We currently go to market via a direct sales organization that calls on customers ranging from NFL teams to youth leagues.  We will continue to leverage a direct sales channel, believing this is the most effective way to sell the value of our unique technology.  Over time, we will augment direct sales with e-commerce, particularly for less complicated products such as our forthcoming soccer headband.  Our current sales organization consists of 30 full-time employees focused on accounts in North America.  

4)   Do you sell to the team or the players?

Purchases are made primarily by teams/leagues on behalf of players, but an increasing number of parents are making direct purchases of helmets for their children.  NFL/NCAA teams give players choice of helmet; high school and youth players tend to have less choice.  Believing awareness and education provide benefit, we market to all stakeholders, including equipment staff, medical staff, players, parents, coaches, and booster clubs. For many of our new categories (rugby, soccer, hockey), our sales channel will be heavily e-commerce based.

5)   How will you achieve your 2019 sales targets?

We will continue to promote our industry-leading ZERO1 varsity helmet.  We also recently introduced the industry’s first ever true youth helmet (the ZERO1 Youth), and our newly launched soft headgear technology for 7v7 and flag football called ULTIM.  Youth football represents 75% of the market, so we’ll finally be participating where the bulk of the opportunity resides.  We project our helmet revenues to double, consistent with what we’ve observed year-over-year this year.  By the end of July, orders were up 50% YOY and we had already exceeded last year’s full-year bookings by more than 30%.

6)   Have you protected your design and function of the helmet?

We have been very aggressive protecting our intellectual property.  Our leadership team includes a PhD in Neuroscience with 10+ years of IP experience.  She is embedded among our R&D team and regularly assesses opportunities to protect our technology and methods.  We have over 93 issued or pending patents and have trademark protection for our logo and marks in major global markets.

7)   Have players been concussed in your helmet?

Yes.  No helmet can prevent concussions and we’re careful not to claim ours can.  Players concussed in the ZERO1 tend to recover quickly, continue to wear the helmet, and appreciate their access to our breakthrough technology.  It’s too early and often inappropriate to draw any conclusions based on on-field play, which is not well controlled, but some early research has been positive.  The NFL and Virginia Tech use highly controlled laboratory testing to assess helmets.  This is consistent with the approach taken in automotive safety for decades, where laboratory testing is the gold standard. The ZERO1 ranked #1 in NFL testing for the third consecutive year and our ZERO1 YOUTH helmet and ULTIM cap received the best score in the history of Virginia Tech Helmet Ratings in their respective categories.

8)    How do you protect yourself from future product liability claims?

We engage regularly with experts in product liability and this informs our product claims and quality systems. Our leadership team has its roots in the medical technology industry and we maintain robust testing and documentation.  We are conservative about our claims and this discipline helps assure we face modest exposure. We also carry ample insurance to mitigate financial risk. Lastly, as a relative newcomer to the market, we entered once football was considered a “known risk” and without the baggage of decades of play and the accompanying liability.

9)    How have competitors responded?

Our competitors are old-line companies lacking robust R&D capabilities, but they are increasing investment in an effort to match up.  Eleven new helmet models were introduced last year, but we outperformed all of them in NFL/NFLPA testing. The ZERO1 was worn by 6X more NFL players in its first year than Schutt’s new helmet.  In any case, our best strategy is to extend our lead by operating with greater urgency and faster innovation. 

10)    Where do you stand with expanding your product portfolio?

Our expertise is in the development of impact mitigating structures.  Derivatives of our football helmet technology can be leveraged for several other sports and the military.  We have active projects underway in hockey, soccer, rugby, flag football, and the military.  Each is scheduled to launch within 24 months.

11)    What is your strategy and timeline for an exit?

We are focused on building an enduringly successful company with an extensive portfolio of differentiated products, strong margins, loyal customers, and solid partnerships.  Marketplace and operational success will result in a multitude of exit options over the next 3-5 years.  We already have many of the people, processes and systems that would make us an attractive public company, such as a reputable Board of Directors, scalable financial and operational systems, and a deep bench of experienced leadership.  For modeling purposes, we have assumed a 2021 IPO event that converts the preferred shares into common shares. 

12)    What is the composition of your capital table?

We have over 350 like-minded investors who care passionately about VICIS and the work we are doing to protect young athletes and our servicemen and women. Our cap table includes managing directors from leading VC firms who have invested personally, large family offices, leading technology entrepreneurs, current and former NFL athletes, and thought-leading spine and neurosurgeons.  They are connected by their belief in our mission and prospects as a business.


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