Firefly Recovery is a wellness and fitness services company that specializes in small, wearable devices designed to help muscles recover faster after exercise. The company’s flagship product, Firefly, uses gentle electrical pulses to improve blood flow, reduce muscle soreness, and speed up recovery.
Entrepreneur Anthony Kjenstad raised $1 million in funding in 2023 from professional athletes, including Kerri Walsh Jennings and NFL players Shaq Thompson and Darren Waller.
Company President Anthony Kjenstad and Chief Marketing Officer Lauren Campbell appeared on Shark Tank Season 16, seeking additional investment and the expertise of the Sharks.
Did any of the Sharks show interest in investing? Let’s find out.
| Company Name | Firefly Recovery | |
| Founder | Anthony Kjenstad | |
| Founded | 2016 | |
| Product | Recover Faster Device | |
| Asked For | $500k for 2.5% equity | |
| Final Deal | $500k for 5% equity | |
| Sharks | Rashaun Williams and Lori Greiner | |
| Episode (Shark Tank USA) | S16 E14 | |
| Air Date | March 21st, 2025 | |
| Business Status | In Business | |
| Website | Visit Website | |
| Headquarters | Fullerton, California, USA | |
| Lifetime Worth (Sales) | $7.5 Million *estimated | |
| Valuation | $20 Million | |
Who Is The Founder Of Firefly Recovery?
Firefly Recovery was founded in 2016 by entrepreneur Anthony Kjenstad. Before starting his own business, he worked for 19 years as a Business Development Manager at a medical device company called Restore Motion. Regarding his education, he studied accounting at the University of Arizona.
Lauren Campbell is the Chief Marketing Officer of Firefly Recovery. Before joining the company, she worked in the marketing departments of ContractSafe, Ferrero, and Ferrara Candy Company, among others.
How Was The Shark Tank Pitch Of Firefly Recovery?
Anthony and Lauren appeared on Shark Tank seeking $500,000 in exchange for 2.5% equity in their muscle recovery device business, valuing the company at $20 million. To demonstrate their portable Firefly Recovery Devices, they invited Kerri Walsh Jennings on stage—an investor in their company and a five-time Olympian.
When Lori Greiner asked about patents, Anthony revealed they had a total of 47 patents for technology and design.
Kevin O’Leary was curious about why they valued the company at $20 million. To justify this, Lauren shared their sales figures: lifetime sales of $7.5 million, $4 million in sales over the last 12 months, and an estimated $5.5 million in sales for 2024.
She also mentioned that in 2022, they raised $1 million in a seed round from athletes, family, and friends at a $10 million pre-money valuation.
The product’s landed cost is $17.30, and it retails for $48 per unit. Each device lasts about a month. Kevin O’Leary felt the company was overvalued and backed out.
Daymond John also passed, saying he was unsure about the valuation. Mark Cuban believed the product was too expensive and opted out as well.
Guest Shark Rashaun Williams and Lori Greiner teamed up to offer $500,000 for 5% equity plus a $1.50 royalty per unit, which would drop to $0.50 after the $500,000 was repaid.
However, Anthony and Lauren were uncomfortable with the royalty model and countered with $500,000 for 3.5% equity. Rashaun then made a final counteroffer of $500,000 for 5% equity. After some negotiation, Anthony and Lauren accepted Rashaun and Lori’s offer.
Breakdown Sharks Offer
Note: Here’s a quick summary of the offers and counteroffers between the Sharks and Anthony Kjenstad:
| Sharks | Offers |
| Kevin O’Leary | No Offer |
| Daymond John | No Offer |
| Mark Cuban | No Offer |
| Lori Greiner | $250k for 2.5% equity (Rashaun) |
| Rashaun Williams | $250k for 2.5% equity (Lori |
| Founder’s (Countered) | $500k for 3.5% equity |
| Final Deals | $500k for 5% equity |
Firefly Recovery Shark Tank Update
After this episode of Shark Tank aired, the Firefly Recovery brand received free promotion, which could be beneficial for the company in the future.
When we visited the company’s website for more information, we found that they are currently shipping their products to the United States, Canada, the United Kingdom, and Australia. Additionally, they have launched a supplement product called FlyKitt Round Trip Refills, priced at $69.
What Is the Net Worth of Firefly Recovery?
The company secured a deal on Shark Tank at a $10 million valuation. If we estimate an annual growth rate of 6.04%, Firefly Recovery’s net worth could potentially reach $10.6 million this year.
Meanwhile, the global sports medicine market was valued at $7.27 billion in 2024 and is estimated to grow to $12.32 billion by 2033, indicating significant industry expansion.
