If you have any involvement in trail running, you know that the sport is at a crossroads. 

It’s grown considerably since the early 2000s and has exploded since last spring’s Covid-19 shutdown sent people scrambling into the outdoors in search of new forms of exercise. On one hand, the growth has been great for shoe companies and race directors, boosting sales of trail running shoes and apparel as well as participation in races. On the other hand, the sport faces challenges and growing pains as it adjusts to the growth.

Here are five important issues facing trail running in the U.S. from an industry point of view.

1. It needs more brand support 

One of the ways that trail running can continue to grow is to garner more large, high-profile brands to invest time, money, attention and development in the sport. Brands like Salomon, Altra, HOKA, Inov-8, La Sportiva, Ultimate Direction, Nathan, and Raid Light, for example, have been all-in for many years with good products, sponsored athletes and involvement in big races. Adidas-Terrex, Brooks, Craft, Nike, Scarpa, Rabbit, On and The North Face are among the brands that have been putting more of a focus on trail running in recent years. 

While the sport certainly could use more running brands dedicating more marketing and sponsorship dollars to the sport and its athletes, trail running also needs to have organizational structure and greater exposure to attract non-endemic brands like Advil, Subaru, Whole Foods, United Airlines and Beyond Meat, for example, to continue to raise the profile and legitimize the sport.

“It’s nice to see more big brands coming into the sport and investing in the sport,” says Greg Vollet, manager of Salomon’s elite international trail running teams. “I hope it will continue to help grow the sport and attract a larger audience. If you look back 10 years ago, very few brands were investing in the sport and it was much smaller. So the more brands invest in the sport, the more the sport will grow and everyone will benefit from it.”
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Here’s your roundup of new private company deals within the health and wellness sector over the past week.

• Alete Active Nutrition just acquired Bonk Breaker Nutrition, a producer of energy bars and chews for endurance athletes. Alete was formerly known as RoadRunner Holdings and is rolling up athletic supplements and nutrition brands, thanks to funding from American Pacific Group, a private equity firm based in San Francisco.

• Eagle Creek, manufacturers of backpacks and travel gear, avoided a total shutdown of the business line by selling the assets of the company to industry veteran Travis Campbell this week. Parent company VF Corp had announced earlier this year that it would sunset Eagle Creek, in part because the company also owned Jansport and Eastpak. Campbell was working at VF at the time, recognized a bargain opportunity, and offered to buy the company personally. He currently has no employees, but expects to staff up quickly as he revives the brand. He did not use venture or private equity capital to close the deal.

• Another outdoor gear company, Cotopaxi, just landed financing from Bain Capital. Bain was founded by Mitt Romney and normally pursues typical private equity deals, but the Cotopaxi deal was funded by a relatively new arm of the firm, Bain Capital Double Impact. The mission of this sub-fund is to finance companies that not only generate profits, but also enhance the overall health of the world. According to Bain, the fund “partners with companies across three themes – health & wellness, education & workforce development, and sustainability to create long-term value and meaningful social impact at scale.” An excellent 2020 “How I Built This” podcast interview with Cotopaxi founder Davis Smith is here. 

• Oviva, a European digital health company, just raised $80,000,000 in a Series C financing co-led by Sofina and Temasek, alongside existing investors AlbionVC, Earlybird, Eight Roads Ventures, F-Prime Capital, MTIP, and several angel investors. Oviva provides digital tools and human coaching to help users change their diet-related habits, improve their long-term health and enhance their well-being. 

• Synthesis Institute just raised $7,250,000 in a Series A funding round to promote its mission of creating wellness retreats and psychedelic practitioner training. The company did not use a traditional VC structure for the transaction. The use of psychedelic microdoses is a growing trend in health and wellness spheres.

• Title Nine, the female-focused outdoor apparel retailer, continued its successful venture-style pitch competition by announcing the nine finalists in its fourth annual Pitchfest Outdoor Edition. Winners get their products promoted and sold on the Title Nine website. Previous winners have reported seeing triple and quadruple digit sales increases on their own branded platforms as well as through Title Nine. 

• Professional cyclist Chris Froome just announced an investment in Supersapiens and a new advisory role at the company. Supersapiens uses a biometric monitor to stream an athlete’s glucose levels to an app that resides on their phone or smartwatch. 

• Boutique gym 10.40.10 Fitness just announced a $1,000,000 seed round led by Peregrade Ventures. The company will use the cash to open new locations and expand its digital fitness app.

Peloton is Launching its Own Apparel Brand Business Insider

Vuori Appoints Chief Operating Officer and Vice President of International New Break

Athleta to be sold in 135 REI stores Retail Dive

WHOOP Unveils the Bright Future of Wearable Trackers, WHOOP 4.0 and WHOOP Body Morning Chalk Up