Seeing value, financial and otherwise, in Xenith’s mission

On October 5, 2009 we wrote about a sports equipment manufacturer named Xenith. The story came out after we started seeing a flurry of news about the NFL’s study of the possible relationship between playing careers in the league and memory-loss and brain related diseases later in life.

According to Xenith, it was “founded by athletes, doctors, and engineers, and is committed at its core to both innovation and education to address issues of safety, activity, and health.” Its main products are football and baseball helmets.

Almost 16 months later we are more than delighted to pass along news that Xenith’s hard work is being recognized not only by the sports and medical communities. It has found validation in the community consisting of equity investors.  According to a piece from the Boston Business Journal:

“Xenith LLC has raised $10.5 million for its high-tech football helmet, designed to prevent concussions, the Lowell, Mass. company reports in a regulatory filing this morning.

The funds, which come from 61 equity investors, are from existing investors in the company, said CEO Vincent Ferrara, a former Harvard College football player who founded the company in 2004…

…Xenith’s X1 helmet, which retails for $400 ($200 in a youth version), is based on two patent-pending technologies: one covering a chin strap designed to fit the helmet better to the head; the other covering shock absorbers designed to respond to different levels of impact. The company also makes a baseball batting helmet based on some of the same technology.”Great works, whether by non-profits or private companies, or even the public sector, need the type of recognition that will help ensure sustainability. It is one thing to “like” what a company or organization is doing. However, support, whether it terms of donated time, product, services, and certainly dollars (in the form of venture capital, or what we spend as customers), is eventually needed to make sure that the good work continues. We congratulate Founder and CEO Vincent Ferrara and his entire team at Xenith. We look forward to continually highlighting their good work.