Total amount raised
$165 Millions
Latest funding date
09/01/2022
Location
Therabody has successfully raised significant funding through multiple rounds, attracting a diverse group of investors including HartBeat Ventures and North Castle Partners. The company specializes in developing medical devices for targeted vibration therapy and pain relief.
Keep reading to explore the intricacies of Therabody's fundraising journey and the investors backing this innovative platform.
What Is Therabody?
Therabody, founded in November 2008 by Jason Wersland, is based in Dallas, Texas. The company specializes in developing medical devices for targeted vibration therapy and pain relief, including products like the Theragun PRO Plus and TheraFace PRO.
With a workforce of 101-250 employees, Therabody offers a range of wellness solutions designed to enhance performance, reduce pain, improve sleep, and revitalize skin health. Their innovative products include massage guns, compression boots, and vibrating muscle rollers.
Therabody's mission is to provide effective wellness solutions through cutting-edge technology, helping users achieve better health and well-being. The company continues to expand its product line to address various aspects of physical and mental wellness.
How Much Funding Has Therabody Raised?
- Private Equity Round
- Amount Raised: $165M
- Date: September 2022
- Lead Investors: North Castle Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Therabody aimed to invest in innovation across hardware, software, services, and digital content, as well as expand its product line and global reach.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: February 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Not publicly disclosed
Total Amount Raised: $165M
Current Valuation: Not publicly disclosed
Key Investors
- North Castle Partners
- Details: North Castle Partners is a private equity firm focused on investments in consumer-driven product and service businesses. They aim to promote healthy, active, and sustainable living.
- Investment Focus Areas: Health and wellness, active living, beauty and personal care
- Notable Investments: Curves International, Jenny Craig, Octane Fitness
- HartBeat Ventures, LLC (Kevin Hart)
- Details: HartBeat Ventures is led by comedian and actor Kevin Hart. The firm focuses on investing in companies that align with Hart's brand and interests.
- Investment Focus Areas: Entertainment, lifestyle, wellness
- Notable Investments: Not publicly disclosed
- Rx3 Ventures (Aaron Rodgers)
- Details: Rx3 Ventures was co-founded by NFL quarterback Aaron Rodgers. The firm focuses on consumer brands with broad audience appeal and growth potential.
- Investment Focus Areas: Consumer brands
- Notable Investments: Not publicly disclosed
Information about additional major investors was not found in the provided sources.
What's Next for Therabody?
Therabody's future looks promising with substantial opportunities for growth. The company plans to invest in innovation across hardware, software, services, and digital content, including the expansion of their whole-body wellness centers called Reset. With the recent $165 million funding, Therabody is well-positioned to launch new products aimed at whole-body wellness, such as the next generation of Theragun PRO and SmartGoggles™.
Given the significant financial backing, future fundraising opportunities seem likely as the company continues to innovate and expand. However, Therabody may face challenges such as competition in the wellness technology market and ensuring the effectiveness and adoption of new products. Managing rapid expansion while maintaining product quality and customer satisfaction will be crucial for their sustained success.
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