SALT LAKE CITY--(BUSINESS WIRE)--Kizik, the world leader in hands-free shoes, and its parent, HandsFree Labs, Inc., today announced the completion of a $20 million Series B funding round. Kizik will use the funds to launch a Kizik Kids line and create a retail footprint with Kizik stores. The funding round was led by The Newcastle Network, a consumer-focused private equity fund combining expertise in data science, creator & social media marketing, innovation, and entrepreneurship to help companies unlock new levels of growth.
“Hands-free shoes are what we do,” said Monte Deere, CEO of Kizik. “Kizik’s easy-on shoes provide our customers with industry-disrupting convenience and comfort, and those customers are choosing Kiziks as their everyday shoe. Our online sales growth is phenomenal. Kizik’s partnership with The Newcastle Network will help us expand our Kizik product and reach a wider audience.”
The Kizik brand uses HandsFree Labs’ portfolio of more than 100 patents and patents pending to create comfortable and stylish shoes for men and women – and soon kids. Kizik shoes slip on like a slipper, but fit like a shoe; once they are on, they are all the way on. In addition to kids shoes, Kizik soon will launch hands-free high tops and Chelsea boots.
"We were drawn to Kizik because of their unique approach to a category that's seeing tremendous momentum, paired with the unparalleled integrity, drive, and innovation of their team," said Chris Casgar, Managing Partner at The Newcastle Network. "Kizik delivers on a new level of simplicity, comfort, and quality for the people who don't want to compromise total ease with great style in their everyday life. With this new investment, Kizik has the profound opportunity to reshape the footwear industry and support more people nationwide with effortless, amazing products."
HandsFree Labs Inc. previously entered an intellectual property licensing partnership with Nike.
Based in Lindon, Utah, Kizik is a technology-based footwear brand that makes stylish hands-free footwear with modern design to bring joy and convenience to everyday life. For more information on Kizik, please visit www.kizik.com.
About The Newcastle Network
The Newcastle Network is a private equity firm pushing the frontiers of collaboration with its partner companies. We are a passionate group of investors and operators with expertise in data science, creator and social media marketing, innovation, and entrepreneurship that helps companies unlock new levels of growth. Focused on established and performing consumer businesses, we seek to partner with companies where we can provide meaningful value that realizes a team's most ambitious visions.