Vertiball Closes $420,000 Dragons’ Den Deal With Arlene Dickinson
FREDERICTON – After appearing on Dragons’ Den in December, Vertiball founder and CEO Curtis Kennedy is thrilled to share the company has closed its deal with Arlene Dickinson’s firm, District Ventures.
District Ventures, the company in which Dickinson is a General Partner, made an equity investment in Vertiball. On the show, the deal with Dickinson was $420,000 for 17 percent of the company.
Although they will not be disclosing what the final investment was, Kennedy says the final investment is slightly higher than what was shown on the broadcast and involves additional investors.
“Standing up there [on Dragons’ Den] and speaking with [Dickinson] and have her speak kindly of what we’re trying to accomplish was a really big achievement for me in itself,” said Kennedy. “To actually follow through and get the deal closed was really special for both myself and the guys on the team as well.”
With the investment, Kennedy is looking forward to growing the product. He says the investment will help expand Vertiball’s product line and gain additional exposure.
“Overall, we want to build an all-encompassing suite of products that can really do everything that people would ever want or need in terms of relieving back and muscle pain,” said Kennedy.
Kennedy says the next two products will be attachments to Vertiball’s mounting system.
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Vertiball, a Fredericton-based company founded by Kennedy, is the world’s first 360-degree movement personal muscular care device that treats muscle tension and back pain. It has been endorsed by professional athletes including NFL players CeeDee Lamb and Minkah Fitzpatrick Jr.
“I’m really satisfied with where we’ve come. We have such a great team that’s working on it and everyone is completely invested and feels like they have their place in it. We’re all the master of our own domain,” said Kennedy. “We’re a small group, but we’ve assembled a group that’s really dedicated and are the wizards of what they’re doing. We’re really excited for the future and pumped to see how we can grow over the next year or two.”
On Dragon’s Den, Kennedy appeared alongside COO Aaron Turner. The duo shared their product with the Dragons and walked out with an investment from Dragon and General Partner of District Ventures Capital, Arlene Dickinson.
“At one point in our lives, we’ve all felt the unfortunate effects of muscle and back pain – and Vertiball brings to market an effective, portable tool to treat this common ailment,” said Dickinson in a news release.
“We are impressed not only with the innovative product that Vertiball has created, but with the sheer passion behind the concept and its development. We look forward to working with the Vertiball team as they continue to build the brand.”
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Liam Floyd is a reporter for Huddle. Send him story suggestions: [email protected].