HandsFree Labs Closes $3 Million Round Led by the Frazier Group and Adds Shoe Guru Skip Lei to the HandsFree Labs Team

VINEYARD, UT (March 24, 2021) – HandsFree Labs, Inc., the leader in hands-free footwear technology, announced it has secured a $3 million round of financing led by the Frazier Group.

“HandsFree Labs’ technologies are redefining the way people wear their shoes,” said Scott Frazier, Managing Partner of the Frazier Group. “The company’s licensing partnership with Nike and the early success of its Kizik brand are evidence of great things to come.”

The Frazier Group’s portfolio boasts of 80 companies, 45 of which have been added since 2018. The Utah fund’s $210 million of invested capital has resulted in dozens of IPOs and acquisitions.

In addition to licensing its technology portfolio to Nike and other best-in-class footwear companies, HandsFree Labs uses its technologies to power Kizik footwear, a brand of hands-free shoes that brings convenience and accessibility to casual and comfortable shoes for men and women.

“The Frazier Group’s investment record speaks for itself,” said Monte Deere, CEO of HandsFree Labs. “They already are bringing their mentorship and resources to our vision of putting hands-free shoes - through our Kizik brand and through the brands to whom we license - on the feet of billions of people.”

Skip Lei, who spent over 30 years at Nike before joining HandsFree Labs, will be executing the footwear business side for Kizik and Handsfree Labs. 

Lei is a true shoe connoisseur. He is deeply experienced to successfully navigate the product creation process from beginning to end. Lei’s expansive background at Nike includes running the global tennis category, creating Nike’s Quick Strike program, as well as serving as the product liaison to the brands that Nike owned, including Converse, Hurley, Bauer Hockey, Starter, Cole Haan and Umbro.  

“Skip Lei is a strategist, a problem solver and a true energy giver,” said Deere. “He firmly believes in the concept of team and understands the value of clarity in business. We couldn’t be happier that he is on our team and leading our footwear effort.”