Where Is BetterBack Support Belt For Posture & Back Pain From Shark Tank Season 7 Today?
Whether you're working, studying, traveling, or meditating, many people spend a great deal of the day sitting. As a result, most of us are no stranger to back pain, including entrepreneur Katherine Krug. Offering a solution, Krug walked into the tank during season 7 of ABC's "Shark Tank" to pitch her product, the BetterBack support belt for posture and back pain (via Gazette Review).
At first glance, the product looks like a cross between a seatbelt and a rock climbing harness. The ergonomic device targets two key areas of the body: the knees and the lower back. To use the belt, Krug explained that the pad is positioned across the user's lower back and one strap is secured to each knee to help the user comfortably maintain proper posture while seated and subsequently relieve back pain (via YouTube).
While the design may have appeared a bit intimidating — as Shark Barabara Corcoran pointed out — it didn't dissuade consumers. Rather, BetterBack was already a smash hit on Kickstarter. With over 16,000 backers, the campaign raised an impressive $1.2 million in funds. Now, Krug was turning to the Sharks for a $750,000 investment in exchange for a 7.5% stake in BetterBack with a company valuation of $10 million.
What happened to BetterBack on Shark Tank?
Only costing the company $8.05 to make, one BetterBack support belt packaged with one free eBook was priced at $49 at the start of the Kickstarter campaign (via Gazette Review). Despite the product's online success, however, some of the Sharks weren't convinced. Corcoran felt that the asking price was too high for a product that hadn't undergone any customer trial runs yet. Similarly, Mark Cuban had reservations about the company valuation and how the product would fare in a competitive market. The two of them were out.
Krug was left with three deals to consider from Lori Greiner, Kevin O'Leary, and Robert Herjavec. For a moment, the entrepreneur had viewers anxiously on the edge of their seats as Krug considered phoning a friend for advice. Thinking better of it, she opted to take Greiner's deal. BetterBack would receive a $750,000 three-year loan at a 7.5% interest rate. After Greiner makes her money back, she would receive an 8% stake in the company.
BetterBack after Shark Tank
BetterBack continued to chug along full steam ahead. After the airing of their "Shark Tank" episode in February 2016, the company sold more than 10,000 units across more than 100 countries, Krug told Robyn D. Shulman of Meet the Future: Interviews with Innovators. She went on to explain that in addition to their website, BetterBack could now also be purchased on Amazon.
Later that year, the company announced on Instagram that they were introducing two new and improved BetterBack models called the BetterBack Therapy and the BetterBack Therapy Plus, designed to fit a user waist size of up to 55 inches. Made with memory foam, the product enables consumers to use the belt as a heating or cooling pad.
In addition to being a hit amongst consumers, Krug left quite an impression on the Sharks. Mr. Wonderful went on to appear on a segment of QVC singing the product's praises and explaining that he had been using BetterBack himself for the last two years (via QVCtv). O'Leary even went so far as to describe BetterBack as "an incredible innovation" that he uses any time he's sitting for more than half an hour, such as when working at his desk or traveling by airplane.
Is BetterBack still in business?
BetterBack has significantly expanded its product line and continues to be in business today. Consumers can still purchase the original BetterBack, BetterBack Therapy, and BetterBack Therapy Plus (via BetterBack). Additionally, customers can now also choose between the BetterBack Luxe model made with NASA-engineered memory foam, the BetterBack Deluxe model, the Healing Pearl Therapy Pack, and even BetterBack's Upper Posture Corrector device. The company also sells accompanying products including a back rub ointment, a back stretcher, and a pair of SuperStraps Luxe backpack straps.
A one-pack of the original BetterBack belt has gone up in price since its Kickstarter days, however, and is now available for $59.99. Interested customers may want to grab it while they can, though, as many users have seen the benefits of BetterBack play out for themselves. In a recent review, one customer wrote, "I really like my BetterBack. If I have a sciatica attack ... BetterBack helps. And my posture is indeed improving!"
What's next for BetterBack's founder?
Using BetterBack starting at just 15 minutes a day can work wonders, the company continues to highlight on Instagram. While there haven't been any recent announcements as to whether BetterBack has any new products in the works, founder Katherine Krug has continued to expand her entrepreneurial ventures to this day.
According to Krug's LinkedIn profile, she continues to work as an advisor for tech companies, including the open investment crowdfunding platform Republic, and Blink, a hiring platform connecting media companies with freelancers. She is also listed as the Executive Chairman of Athena, an executive assistant recruiting company. As if that weren't enough, Krug is also the founder and CEO of Closer, a company that works to build and enhance our intrapersonal relationships. This seems right in line with Krug's stated career goals, one of which is helping people improve their relationships with family, friends, and in the workplace.