TruFit Customs, a customized mouthguard product founded by Matthew Hall and Victor Adamo, aired on the 16th season of Shark Tank USA in 2024. The founder, Matthew Hall was seeking $750,000 for 5% equity, valuing the company at $15 million. Unfortunately, he couldn’t secure a deal with any of the Sharks. In this article, we will explore TruFit Customs Net Worth in 2024, details of the Shark Tank pitch, and more.
TruFit Customs Net Worth 2024 & Financial Overview
After the show aired, the company experienced significant sales, with an estimated growth rate of 10% per year. Based on the company’s growth rate and valuation after the Shark Tank show, TruFit Customs Net Worth is estimated at $10.98 million in 2024.
| Annual Sales Revenue | $1.4 million (2024) *estimated |
| Profits | Not Available |
| Lifetime sales | Not Available |
Shark Tank TruFit Customs Pitch
TruFit Customs designs personalized sports gear specializing in dental products like mouthguards that meet dentist and orthodontist standards. Using advanced 3D technology, they streamline the process of making like this custom-fit items.
In the past, creating a mouthguard required dentists to make molds from dental impressions for each athlete, which could be time-consuming and expensive. TruFit, however, uses a digital scan instead of a mold. This method cuts down costs and makes the process faster. The result is a unique mouthguard with built-in shock absorbers that improve protection and comfort.
Once the initial scan is complete, TruFit saves it in the cloud, so you don’t need another scan unless your dental structure changes. Unlike standard mouthguards that need new impressions each time, TruFit’s custom design offers better comfort and a fit that makes breathing easier, encouraging regular use.
In the tank, the TruFit Customs founder Matthew Hall asked the Sharks for a $750,000 investment in exchange for 5% equity. With this funding, they aimed to expand production, boost efficiency, and give products with rising demand. Also, their goal was to establish TruFit as the leading brand for customized sneakers.
During the pitch, the Sharks asked many questions about TruFit Customs’ business model and potential for growth. Each unit costs $31 to produce and sells for $95, giving TruFit a profit margin of 67%. Even with a $23 customer acquisition cost, they keep a 40% profit margin on first-time buyers.
Since launching in 2022, they earned $115,000 in the first year, followed by $750,000 in 2023, and are expected to be on track for $1.4 million at the end of 2024. With a prior $7.5 million valuation, TruFit has already raised $1 million and supplies over 1,000 professional athletes across several leagues.
Mark Cuban expressed concerns about TruFit’s high valuation and was the first Shark to leave the deal. Daymond John then agreed with Mark’s decision, and he exited as well. Lori Greiner also had concerns about TruFit’s high valuation and the time it would take to recover her investment, so she chose not to proceed.
However, Kevin O’Leary made an offer of $750,000 for 3% equity, with a royalty of $2 per unit until he recovered $2,250,000. But Matthew declined this offer at that moment.
Then, Guest Shark Rashaun Williams offered $750,000 for 10% equity, with plans to bring in 10 to 20 athletes as brand ambassadors or investors. In response to Rashaun’s offer, Matthew countered with $1,000,000 for 8% equity, but Rashaun declined this offer. After considering the options, Matthew agreed to Rashaun’s initial terms, and they successfully made a deal.
| Company Name | TRUFIT Customs |
| Founders | Matthew Hall and Victor Adamo |
| Business | A customized mouthguards product |
| Episode | Season 15, Episode 01 |
| Asked Deal | $750,000 for 5% equity |
| Final Deal | $750,000 for 10% equity |
| Shark | Rashaun Williams |
Summary of the Sharks’ Deal
| Shark | Offer | Counteroffer |
| Rashaun Williams | $750,000 for 10% equity (Accepted Deal) | $1,000,000 for 8% equity |
| Mark Cuban | No | N/A |
| Kevin O’Leary | $750,000 for 3% equity, with a royalty of $2 per unit until he recovered $2.25 million | N/A |
| Lori Grinear | No | N/A |
| Daymond John | No | N/A |
What Happened to TruFit Customs after Shark Tank?
As of October 2024, TruFit Customs is still in business. Following their episode, TruFit Customs gained substantial media attention and announced a new partnership with Rashaun Williams. This collaboration represents a significant step forward, supporting the brand’s growth and commitment to innovation.
With Rashaun’s support, TruFit aims to elevate its custom-fit sports products and push boundaries in athletic gear. The company recently added nightguards and Vaporbite to its lineup, boosting athletic performance alongside its original sports mouthguards. They’re also testing custom-fit insoles, already in use during the 2024 NFL season.
TruFit Customs prices their sports mouthguards at $125, with a first-time buyer discount bringing it to $95. The Vaporbite mouthpiece, designed to boost performance by increasing oxygen intake, is also priced at $125.
TruFit Customs is financially strong and has built a solid reputation for creating innovative athletic products. Since launching five years ago, the company has become a trusted supplier for many top sports teams. Nearly half of NFL teams now use TruFit mouthguards, with athletes like Stephen Tomasin and Cooper Lovelace praising them.
Their mouthguards are also gaining popularity in the NHL, combat sports, and NCAA athletics. As TruFit expands its affordable, slim, and comfortable product line, it is quickly becoming a favorite in the sports world and is set for impressive growth.
The founders also plan to create carbon fiber insoles, using 3D customization to boost support and protection for athletes. With Rashaun Williams’ guidance, TruFit has grown its sales and market reach, now serving multiple U.S. sports leagues. They’re also exploring partnerships with sports retailers to make their products more accessible. Committed to ongoing innovation in custom sports gear, TruFit is working to position itself as a top name in athletic protection.
TruFit Customs Founders
Matthew Hall and Victor Adamo founded TruFit Customs in 2019 to transform custom sports products using advanced 3D technology. Hall, who has a background in psychology and pre-med studies, brings experience in computer-aided design. Adamo, a former junior hockey goalie from Ontario, holds an MBA in Finance and Entrepreneurship from Pepperdine Graziadio Business School. Both founders have studied together at Pepperdine University in Malibu, California.
The founders, both passionate about sports, saw that the process for making custom mouthguards was outdated. So, their goal was to create a mouthguard that addressed the issues of traditional, bulky designs. At first, Matthew made the mouthguards in his studio apartment. Then, they initially launched the product in California, which has positive signs of becoming the leading sports product in the USA.
TruFit Customs Achievements and Awards
| Year | Achievements and Awards |
| 2024 | The company was featured on Shark Tank Season 16 and got the deal from Rashaun Williams |
Conclusion
Shark Tank is a TV show showcasing different business ideas, helping them succeed. TruFit Customs was one of the ventures featured on the show. They made a deal with Rashaun Williams, showing that success is possible with the right idea and execution. Now, we eagerly await to see how their success story unfolds in the future.
Before you leave, check out the other company updates in Season 16, Episode 01.
- Little Saints Net Worth 2024 Update & Their Shark Tank Pitch!
- 1587 Sneakers Net Worth 2024 Update & Their Shark Tank Pitch!
- Card.io Net Worth 2024 Update & Their Shark Tank Pitch!
