Therabody?, the global pioneer in wellness technology.
The group today announced the close of its growth round with total financial support of $165 million, alongside the launch of eight new products that extend the brand to full-body wellness with proven benefits on performance, pain, stress and sleep. Led by private equity firm North Castle Partners, LLC, the fundraising also includes existing investors such as Kevin Hart’s HartBeat Ventures, LLC and Aaron Rodgers’ Rx3 Ventures. Therabody will use the capital to continue investing in innovation across hardware, software, services — including its wellness centers called Reset — and digital content. With this unique combination of offerings, Therabody aims to inspire and empower consumers to keep their minds and bodies moving. “Therabody is the creator of the massage gun category, and we’re thrilled to partner with Ben and his team in their pursuit of creating innovative skincare solutions that support healthy, active living,” said Alison. Minter, Managing Partner at North Castle Partners.
“As a category builder and dominant premium brand, Therabody has proven its ability to push the boundaries of wellness technology with a high-velocity product launch strategy, particularly in the past year. Theragun?, Therabody’s category-defining percussive massager, is the best-selling massager in its price range, commanding 71% market share in the United States over the past 12 months , according to research by the NPD Group. Therabody’s dominant position in the market has translated into financial success, as the company increased its revenue more than 13 times between 2018 and 2021. In February 2021, Therabody completed its first fundraising round, filling its prominent list investors with athletes, financial sponsors, cultural influencers and other celebrities.
AN EXPANDED RANGE OF PRODUCTS
Newly expanded product line includes next-generation Theragun PRO and Theragun mini, plus first-of-its-kind SmartGoggles? [PDSF : 199 $]. Designed to be paired with TheraMind? sound therapy content, also recently announced, via the Therabody app, the SmartGoggles? help relieve facial tension and headaches during the day and promote relaxation and sleep at night with vibration, heat and massage. The device is Therabody’s first to be integrated with a smart sensor that uses biometric data to personalize therapy, which gradually lowers heart rate to reduce stress and anxiety. The company has also reduced the plastic materials in its new packaging by 85% to significantly reduce their impact on the environment. Therabody’s new product ecosystem expands the company’s commitment to holistic wellness and includes personalized therapies that empower consumers to manage their mental and physical well-being.
The world’s first manual percussion massager is scientifically proven to improve recovery, performance, mobility, sleep and stress. Powered by QuietForce Technology™, the second generation of Therabody’s exclusive EQ-150 motor has been completely redesigned to deliver the superior power of Theragun, while being 20% quieter than the previous version. It also has a built-in OLED screen, now in full color, which displays routines to allow users to treat the body accurately and more easily.
Sale Price: 599€
Now 20% smaller and 30% lighter, the next generation Theragun mini relieves pain, improves recovery and can go anywhere the user goes. With 12mm of amplitude, the mini is smaller and still more powerful than most other standard sized massagers available. It now connects via Bluetooth to the Therabody app to allow access to an entire library of personalized wellness routines. The PRO and mini now include USB-C ports for faster charging. The new Theragun mini will be available later this fall.
Sale Price: 199€
A revolutionary, first-of-its-kind facial device that uses SmartSense Technology™ to combine a biometric heart rate sensor with vibration, heat and massage to relieve headaches and tension, encourage relaxation and optimize sleep. Sale Price 199€ Our exclusive sound therapy content designed to support the user throughout the day. This science-backed audio content is purposely produced using musical elements and audio techniques to enhance mental and physical well-being and appears in three key categories: focus, relaxation and sleep. Launching today with SmartGoggles and integrating with all Therabody connected products in October, TheraMind content is accessible through the Therabody app.