By CultureBanx Team
- Therabody has raised equity from more than 100 famous names across sport, business, culture, and entertainment
- In 2020, Therabody grew its profits more than 30x since 2017 and tripled its overall revenue from the previous year
Tech wellness brand Therabody has raised equity from more than 100 famous names across sports, business, culture, and entertainment. The latest round of investment includes contributions from the likes of Jay-Z, James Harden’s 13 Endeavors, and Kevin Durant and Rich Kleiman’s Thirty Five Ventures. Many of Therabody’s investors already incorporate the recovery devices into their training, recovery, and overall wellness routines, and you can as well.
Why This Matters: Revenue growth for the company has been outstanding, and in 2020, Therabody grew its profits more than 30x. Since 2017, it has tripled the overall revenue from the previous year. Therabody offers a range of products that sit at the intersection of fitness, recovery, and pain management which attracts people from all walks of life. Other celebrities from around the world of music and entertainment, such as Rihanna, Justin Timberlake and Daniel Craig, are also listed as investors in the latest round of funding.
“To have such a significant number of premier athletes, entrepreneurs, and celebrities invest in our company is both an honor and a testament to the validity of Therabody’s products and mission,” said Benjamin Nazarian, CEO, Therabody.
What’s Next: Tech wellness is taking center stage and rumors of an IPO are spreading quickly as Therabody increased its retailer distribution from 40 stores in the U.S. to approximately 10,000 retail doors globally in just 18 months. Therabody also opened five branded retail locations in the U.S., with plans to open more this coming year.
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