Topo Athletic, a brand based on the unique belief that products should innately amplify, not modify, the body's natural biomechanics. The company launches with $5 million in series A funding from Norwest Venture Partners (NVP), a multi-stage investment firm based in Silicon Valley.
Post's new company marks the latest chapter in his ongoing quest to
develop innovative products that help athletes become better, faster and
stronger. In 2006, Post launched the Vibram FiveFingers brand in the
United States, which catapulted Vibram USA and minimalist footwear into
the limelight -- forever changing the way consumers think about the
synergy between shoe, foot and movement. As a result, lightweight
running is now the biggest driver of growth in the athletic footwear
market, earning $1.5 billion this year with 50 percent expected growth
in 2013, according to SportsOneSource.
"Topo Athletic addresses a key opportunity in the athletic gear
industry and is primed for success with Tony Post at the helm," said Jon
Kossow, general partner at NVP. "It's been impressive watching Tony
blaze every brand trail he treks, from Rockport to Vibram; so when he
came to us with his concept, our entire firm jumped at the chance to
support Topo Athletic."
Post's new concept sits at the epicenter of cutting-edge performance
technology that helps athletes optimize their training to tackle more
"Our vision is becoming a reality because of Norwest Venture
Partners," said Tony Post, CEO and founder of Topo Athletic. "We opted
to partner with NVP because of the people -- they ask the right
questions, champion our mission, and provide important business support
while allowing us to maintain our independence. We ultimately chose each
Topo's target audience is athletes who value simplicity, functional
design and technology where it counts. "We approach product design with
humble innovation -- we're not arrogant enough to think that our
products will change an athlete's performance," Post said. "Only his or
her drive to succeed can do that. Our role is to help them get there."
The company will debut its product line at the Outdoor Retailer winter market tradeshow in Salt Lake City on Jan. 23, 2013.
Norwest Venture Partners (NVP) is a multi-stage investment firm that
has partnered with entrepreneurs to build great businesses for more than
50 years. The firm manages more than $3.7 billion in capital and has
funded over 500 companies since inception. Headquartered in Palo Alto,
Calif., NVP has subsidiaries in Mumbai and Bengaluru, India and
Herzelia, Israel. NVP makes early- to late-stage venture and growth
equity investments across a wide range of sectors including: technology,
information services, business services, financial services, consumer
products/services and healthcare.