Gridiron Capital invests in partnership with Cubii founders
Gridiron Capital, an investment firm focused on partnering with founders, entrepreneurs, and management teams, has formed a new partnership with Cubii, a DTC-driven creator of innovative fitness equipment and approachable wellness solutions.
Gridiron partnered directly with the founders of Cubii, leveraging relationships and expertise developed from Gridiron’s Health & Wellness Thematic Area of Expertise. Investing alongside Gridiron, the founders and management team will continue to share significant ownership in the company.
“Cubii has seen tremendous growth in the last few years because we make products that are effective and accessible,” says Arnav Dalmia, CEO of Cubii. “We picked Gridiron as a partner to take Cubii to the next level, not only because of their invaluable experience working with consumer brands but because their empathy & culture aligned with Cubii and what makes this company special.”
Shivani Jain, Cubii CMO, says: “Cubii is proud of being a purpose-driven brand and it’s been an incredible journey so far. This partnership with Gridiron will help us work very intentionally towards further amplifying Cubii’s growth – but most importantly, it will help us magnify the impact we can have on people’s everyday lives.”
Headquartered in Chicago, IL, and co-founded in 2014 by the husband-wife team, Arnav Dalmia and Shivani Jain, and Ryota Sekine, Cubii manufactures and sells compact seated ellipticals and related accessories that make wellness approachable for people of all ages, abilities, and lifestyles. Cubii’s diverse customers range from seniors looking for a safe way to become more active to health enthusiasts searching for easy ways to add extra movement into their busy schedules.
Both online and through a propriety mobile application, Cubii customers can connect to the larger Cubii Communitii, a network of over 50,000 individuals, to track their progress and connect with supportive Cubii users from around the world.
Kevin Jackson, Managing Partner at Gridiron Capital, says: “We are honoured to partner with Arnav, Shivani, and the entire Cubii team as we work together to accelerate the next phase of growth. Cubii’s unique product set serves a large, attractive, underserved consumer market with favourable trends of increasingly in-home, and connected health and wellness solutions.”
John Warner, Managing Director at Gridiron Capital, adds: “Cubii has built an exceptional team culture, that combined with multiple growth opportunities to expand product categories, enter new channels and markets and to invest in digital and analytics capabilities, make this an exciting partnership for Gridiron. We are looking forward to helping build Cubii into a leading wellness brand that serves customers of all ages and abilities.”
“We love Cubii’s mission-driven culture and uniquely designed products that help people to live better,” says Marshall Dahneke, Operating Partner at Gridiron Capital and former CEO of Performance Health. “Cubii will help more people achieve lasting change as the company scales through new channels with an expanded offering, enabling a growing cohort to benefit from simple, accessible, and consistent lifestyle change.”
Benesch, Friedlander, Coplan & Aronoff LLP advised Gridiron Capital on the transaction, while Consensus Advisors and Katten Muchin Rosenman LLP advised Cubii