Golf-Focused Activewear Rhoback Secures $50M in Funding, Annual Sales to Exceed $200M
On June 15, American athleisure brand Rhoback announced a minority equity investment from CHAMP Fund, with the amount close to $50 million. Rhoback's co-founders retain controlling interest in the business and continue to lead the company's long-term vision and daily operations.
This transaction marks Rhoback's first external investment and is also the first investment by CHAMP Fund since its establishment in April 2026, signaling the official launch of this consumer fund co-founded by L Catterton and Patricof Co, with participation from over 250 athletes including Kevin Durant.*Orange Bay Sports related reading: "L Catterton Teams Up with Kevin Durant and 250 Sports Stars to Launch Consumer Fund CHAMP"
Above: Rhoback's 2025 limited edition product ad for the U.S. Masters
Rhoback was founded in 2016 by three co-founders: Kristina Loftus and Matt Loftus, a married couple and MBA alumni from the University of Virginia Darden School of Business (University of Virginia Darden School of Business). The other co-founder, Kevin Hubbard, is an alumnus of Davidson College, Matt Loftus's undergraduate alma mater.
Above: Matt Loftus, Kevin Hubbard, and Kristina Loftus
The brand's prototype originated from Kristina and Matthew's class project during their MBA program. Through market research, they created a sportswear brand, describing it as a fusion of Under Armour and premium lifestyle brand Vineyard Vines.
The brand name and iconic dog logo are inspired by Kristina Loftus's Rhodesian Ridgeback, Bunker—a breed known for being "always eager for activity."
Above: Rhoback camper van and dog Bunker
According to a report by The Wall Street Journal, the three founders stated that the company has been profitable since day one, with revenue exceeding $150 million in 2025 and expected to surpass $200 million this year.
Today, Rhoback's product line includes hoodies, men's pants and shorts, and its women's business is growing rapidly. Rhoback is especially popular in the golf community, with many prominent financial figures publicly wearing the brand.
Upon completion of this funding round, Kristina Loftus shared on LinkedIn:
"Ten years ago – the day after I graduated from University of Virginia Darden School of Business – Bunker (our Rhodesian Ridgeback) and I loaded inventory into the back of a camper, hitched it to our car, and drove up and down the East Coast selling polos, q-zips, and hats to people willing to take a chance on us.
Matthew and Kevin would fly out to wherever I was on weekends after spending the week at their "real" jobs. We brought a small label printer with us and fulfilled online orders from the road, hoping we had packed the right inventory somewhere in the camper. We clocked more than 40,000 miles on the road, and when we weren’t crashing on a friend’s couch, we slept in the camper.
Today, I’m excited to share Rhoback’s partnership with Patricof Co (P/Co), L Catterton, and The Champ Fund – a milestone that reflects over a decade of blood, sweat, and tears.
This partnership will help accelerate the next phase of Rhoback's growth while allowing us to stay focused on what has always mattered most: building great products, serving our customers, and inspiring people who crave activity.
A huge THANK YOU to our amazing team, our loyal community, and to those who believed in us when everyone else (and our parents) thought we were crazy. Here’s to the next amazing chapter in the Rhoback’s story."
In November 2025, Rhoback opened its first physical store in Charlottesville, Virginia, home of Darden School of Business (see below), with more stores to follow. The company also expects to continue scaling its business by deepening partnerships with universities and expanding its KOL community network.
| Source: Official press release; The Wall Street Journal; Official website
| Image source: Official website; UVA Today; Darden School of Business website