Fast-growing Heroclip keeps hooking investors as gadget secures $1.1M in new funding

Fast-growing Heroclip keeps hooking investors as gadget secures $1.1M in new funding

The Heroclip is a swiveling hook with a built-in clip that can hold 60 pounds. (Heroclip Photo via Instagram)

Investors clearly want to hang with Heroclip.

The unique hybrid gear clip that is part carabiner and part utility hook has attracted $1.1 million in new funding, the company announced Wednesday, building on the enthusiasm generated by a previous investment round and three crowdfunding campaigns.

Heroclip was created three years ago by Mina Yoo, the Ph.D. CEO who is a former professor of entrepreneurship at the University of Washington. Formerly known as Qliplet, Heroclip attracted $500,000 in funding in May 2017 and in campaigns on Kickstarter and Indiegogo, the invention raised $400,000 from more than 7,000 backers.

The new funds will help Yoo to scale the business and cement processes to deliver upon imminent growth, a news release said.

“The most important factor in growing Heroclip has been inspiring consumers and investors who understand and create the demand for creative consumer solutions,” Yoo said in a statement. “With the help of our evangelists, advisors and investors, Heroclip is rapidly growing and actively helping everyday explorers achieve more with their daily adventures.”

The product is helping by giving busy hands freedom from holding extra gear, and the list of backers, advisors and brand advocates includes adventure photographer Chris Burkard; Seattle investors Dennis Joyce, Shaula Massena and Jim Reed; e-commerce expert Meredith Han (of Amazon and Brooks Running); outdoor and sports industry veterans David Bohan and Rob Harris of PMI Worldwide and Oregon Sports Angels; an angel group started by former and current Nike executives; and BD Zhang, a manufacturer who invests in lifestyle brands.

“Simply put, Heroclip is one of the most useful tools I have ever come across,” Burkard said in the news release. “Next to my cameras, it is one of the first items that goes into my bag whether its a large expedition or a commercial shoot. I can’t imagine a better product to support and put my name behind.”

Yoo presented an early iteration of the product as an “Invention We Love” at the 2016 GeekWire Summit. Earlier this month, she joined four other panelists in a discussion on crowdfunding secrets to success.

Heroclip can be purchased direct to consumer on its website and is now at a variety of retailers worldwide including REI, Ace Hardware, Amazon, Tokyu Hands (Japan) and b8ta.

Source: GeekWire Startup

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