Tap into the $150B HSA/FSA market.
Golf is finding new fans.
Above Par
Of the 28M Americans who hit the course last year, a record 28% were female and 25% were people of color — representing 23% and 43% spikes from 2018, respectively.
An entry point, another 19M played off-course versions (i.e., Topgolf, mini golf, and simulators), leading to rising interest among younger players.
Fore All
More than a game, golf is a refuge, with participants citing community, nature, and mental health as top motivations for playing.
An elitist aura, time-consuming rounds, and high costs have gatekept its benefits from the masses — but upstarts are redefining its reputation and democratizing tee times.
New drip. Making golf cool, lifestyle label Malbon just raised $28M, counting rapper ScHoolboy Q, female pro Charley Hull, and ex-Nike athlete Jason Day as brand partners. More than a company, it’s building a cultural movement with a digital country club and members events.
Empowering diverse players, Eastside Golf also reinvests in community with free events and lessons, while Recreational Habits pairs the old-money aesthetic with a nonjudgmental ethos.
Gaining traction, London-based Manors wants to be Rapha of the fairway, Students Golf draws from streetwear, and Tiger Woods’ Sun Day Red speaks to the performance-obsessive.
Common ground. Scaling “Golf Lite,” Blue Jeans Golf is rolling up driving ranges and turning them into Golf Ranches — a community-focused, tech-enabled hybrid of traditional and Topgolf. Closing a $20M Series B in September, it’s aiming for 50+ locations nationwide.
For citygoers, Intown Golf Club provides a “convenient and contemporary” social sport fix, while OC-based Even House promises a casual member experience. Elsewhere, Birdie Houses is building Airbnb for golf trips, and Jain targets families with parent + toddler clinics.
The opposite of stuffy, LA-based collective swang hosts bi-weekly “Free Range” events with zero-cost club rentals and lessons “for those who were never invited — but always belonged.” Catalyzing careers, Steph Curry’s Underrated Golf covers fees for underrepresented youth.
Spectator Sport
From the hip-hop-infused Rolling Loud Invitational to tech-forward TGL, organizations are toying with new formats to stoke fandom.
Catching up to culture, golf operators are taking a cue from events like On’s Clubhouse Nights, Nike’s Toma El Juego, Athlos’s track series, and Diplo’s Run club — mixing music, art, style, and sport for a party-like atmosphere.
Signs of the times, creator-led Good Good Golf recently secured $45M to grow live experiences, and BoxWorld’s first simulator golf x music festival lands in SF this month.
Takeaway: Golf isn’t the most intense workout, but it’s wellness in disguise — a reason to gather, ditch screens, touch grass, lock in, and hone hands-on skills.
🎙 On the Podcast
Maui Nui Venison co-founder Jake Muise discusses running a regenerative food business.
Making meat planet-friendly, Maui Nui Venison harvests wild, invasive axis deer on Maui to balance ecosystems while providing nutrient-dense protein.
We also cover: Balancing mission and profit, the pitfalls of hyper-processed high-protein products, and how nutrient density labels could fix the food system.
Listen to today’s episode here
💡Smart rings and brainwaves
Last month, we told you about Oura’s impending fundraise.
Done deal. Now, the round is officially closed — the smart ring maker secured a $900M+ Series E, valuing it at $11B.
Fast track. Hitting 5.5M rings sold and targeting $1B in ’25 revenue, the new capital will accelerate Oura’s evolution from sleep tracker to preventative health platform — funding AI-driven insights, diagnostics, and global expansion.
Next frontier. While Oura looks to lock down the finger, brain wearables want to read our minds.
Exiting stealth, Atlas announced $14M in funding to launch its multi-modal brain-sensing wearable next year.
Head game. Designed to track mental clarity in real time, the behind-the-ear nanosensor decodes brain signals to reveal how daily behaviors—from physical activity to phone usage—affect focus and acuity.
Looking ahead: As Oura’s pursuit of the Personal Health OS intensifies, brainwaves could become the next big biometric.
💰Tap Into the $150B HSA/FSA Market
Make HSA/FSA payments your next revenue driver.
Smart. Powering HSA/FSA spending on health and wellness products, Flex increases average order value by 50% and checkout conversion by 30%.
Simple. Integrating with any checkout flow, its platform eliminates the hassle of paperwork and reimbursement barriers, letting shoppers pay with HSA/FSA cards in seconds.
Seamless. Americans have >$150B in HSA/FSA accounts. With Flex, consumers can spend those funds on your brand, resulting in a 15% average increase in new customers.
Get started today, and see why top brands like Dermstore, Ultrahuman, and Therabody choose Flex.
🛒 The wellness aisle expands
Consumers want comfort, convenience, and function in every bite, and the latest Whole Foods trends prove it.
Tallow’s rise. Rooted in regenerative ag, the ancestral ingredient is crossing categories — from natural skincare to clean cooking oil at home and fast-casual spots like Talo Organic.
Fiber frenzy. Touted as the “new protein,” fiber-packed snacks and drinks are flooding shelves as gut health goes mainstream. Even Big Food is fibermaxxing in search of the next “it” ingredient.
Quick fix. The next wave of instant foods isn’t ultra-processed; it’s nutrient-dense — think adaptogenic ramen, single-serve matcha, and premium frozen meals.
Punchline: The grocery store is now a wellness destination, where better-for-you brands stock functional, familiar, and feel-good eats.
📰 News & Notes
- Tonal enters reformer-style Pilates.
- Les Mills debuts “heavy” BODYPUMP.
- AARMY announces global franchising.
- Monarch Athletic Club preps Miami site.
- Peptides enter women’s longevity stack.
- Hyperice drops portable hip compression.
- NRTHRN Strong opens US flagship in NYC.
- Muse rolls out AI sleep coach, sound cues.
- Life Time taps Aion for weight vest classes.
- GenoPalate adds nutrigenomic assessment.
- SoulCycle enlists Superpower for bloodwork.
- mindbodygreen unveils peri/menopause hub.
- Rally, WHOOP among TIME’s best inventions.
- GymNation “unloads” weights for mental health.
- Ammortal nabs Fast Company innovation honors.
- Hiring? We offer specialized recruiting for CPG, wellness, and longevity brands. Learn more here.
💰 Money Moves
US 🇺🇸 / Canada 🇨🇦
Brain-sensing wearable maker Atlas emerged from stealth with $14M in funding.
Autoimmune care platform WellTheory raised $14M in a Series A led by General Catalyst.
Golf apparel brand Malbon Golf secured $28M in funding.
Women’s ski apparel brand Halfdays added $10M in a Series A round.
Canadian public racket club Fairgrounds closed a Series A round led by Back Forty.
NewDays, an AI-powered dementia care platform, added $4.5M in funding.
Rucker Investments acquired Canadian alkaline mineral water brand Flow Water.
Wellness CPG investment firm Society Brands acquired clean beauty brand Crunchi.
Previvor Edge, a cancer prevention platform, secured $3.3M in a pre-seed round.
Youth mental health company Marble raised $15.5M in a Series A round.
Europe 🇪🇺
Finnish smart ring maker Oura raised over $900M in a Series E led by Fidelity Management & Research Company.
London-based AI health coach app Simple secured $35M in a Series B led by Kevin Hart’s Hartbeat Ventures.
UK-based precision neurology platform Kneu Health closed a $5.6M seed round co-led by Oxford Science Enterprises and Cedars-Sinai.
UK-based hormonal and menstrual health product maker Unfabled raised $1.7M in a round.
Asia 🌏
Japanese tech giant Sony Corporation acquired UK-based sports analytics company STATSports.
Japan’s MEDIROM MOTHER Labs, maker of charge-free health wearables, secured a Series A via private placement.
Indian organic food marketplace Two Brothers Organic Farms raised Rs 110 crore ($12.5M) in a Series B led by 360 One Asset.
Australia 🇦🇺 / New Zealand 🇳🇿
Aussie athlete intelligence platform Catapult Sports acquired German soccer analytics SaaS IMPECT.
Today’s newsletter was brought to you by Anthony Vennare, Joe Vennare, Ryan Deer, and Jasmina Breen.
