Cincinnati natives and brothers David, Henry and Fletcher Pease grew up skiing together, but all too often, the trio would get separated on the slopes. A company they launched last year offers a high-tech solution for that problem, and it just landed a six-figure investment from the highest-profile venture capitalist on the hit ABC show “Shark Tank.”
Rekkie, which makes augmented reality goggles for action sports like skiing, landed a $300,000 investment from billionaire Mark Cuban in exchange for a 12.5% stake. The Peases successfully pitched their idea in the episode that aired Nov. 17, part of season 15.
Rekkie’s smart snow goggles come with a transparent heads-up display – projecting information directly on the lens. You can find friends, check your speed, control music, receive notifications and answer calls – all without needing to take off your gloves. The goggles also can help ski patrol coordinate search efforts.
The money stands as the first outside equity in the company, named in December a Cincy Inno Startup to Watch in 2023.
The brothers boldly pushed back on Cuban’s initial offer – $300,000 for 15% equity (they came on the show seeking $300,000 for 10%). Cuban accepted after the Peases pled their case.
Rekkie is British military slang for recon, and it’s a market, in general, they seem to want to tackle as they scale.
“We believe not only is this a great company in the ski space, but we think with the other action sports, then eventually military and law enforcement, it could be a really big company,” David Pease said. "We believe this is the best ski goggle on the market. Even without the (heads-up) display.”
The smart goggle retails for $349. The brothers said the price is comparable with other top brands on the market.
Rekkie formed in 2022, and the brothers bring a mix of technical and startup experience. Henry Pease received a mechanical and aerospace engineering degree from Princeton University and worked previously at BMW. Fletcher Pease attended Dartmouth College, later moving into a private equity role with Littlejohn & Co. David Pease, a Duke University alumnus, worked at Boston Consulting Group and KKR, a New York-based investment firm.
As of the show’s taping, Rekkie had generated $175,000 in sales with one full ski season under its belt. The brothers said they had bootstrapped the company, investing $200,000 of their own funds.
Rekkie in June 2022 also received a Main Street Ventures Leap grant, awarded to local revenue-generating businesses to scale their community impact and increase the odds of survival.
Main Street Ventures does not disclose the fund amounts, but the Peases mentioned the grant on the show, saying they had received $40,000 from a hometown group.
“From day one, we asked ourselves, what would the sharks say when we were building this, when we were just hacking prototypes together,” Henry Pease said at the close of Rekkie’s pitch. “Now we’ve got Mark Cuban.”
Cuban, through "Shark Tank," has invested in at least one other company with Greater Cincinnati ties. Mad Rabbit, a tattoo skincare brand founded by Miami University graduates Selom Agbitor and Oliver Zak, reeled in $500,000 from the billionaire in March 2021 for a 12% stake. Cuban later participated in the company’s $10 million Series A round, announced this past March.
In recent seasons, other Cincinnati founders, including William and Kristen Schumacher of Uprising Food, a superfood bakery; and Carson and Jason Grill, founders of Touch Up Cup, a paint-saving device, have also appeared on “Shark Tank.”
The Schumachers in 2021 walked away with no deal, while the Grills in 2020 landed $175,000 for a 17.5% stake of their company from Blake Mycoskie, founder of Toms shoes.
