Therabody Raises $165M, Doubles Down on Wellness

Therabody

Therabody wants to build a holistic wellness empire.

The latest: The performance recovery brand raised $165M in growth funding and released eight new products, a mixture of device upgrades and category extensions.

The round, led by North Castle Partners and joined by Kevin Hart’s HartBeat Ventures and Aaron Rodgers’ Rx3 Ventures, will fuel Therabody’s push into stress relief, beauty, sleep, and more.

How we got here: Therabody has had an impressive run, rapidly expanding its feel-good ecosystem.

  • 2019: Theragun opened its first experiential wellness studio called Reset in LA.
  • 2020: Signaling ambition beyond its massage gun, the company rebranded to Therabody, launched a CBD product, and acquired RP Sports, maker of compression boots for recovery.
  • 2021: It acquired EStim company PowerDot for $34M.
  • 2022: Therabody entered beauty with TheraFace, a facial massager with light therapy, and acquired acoustic therapy startup SoSound.

A whirlwind, Therabody now has 20+ physical storefronts and nearly 10 Reset wellness centers open or in development. Complemented by sales online and in 10K retail locations in 60+ countries, CEO Benjamin Nazarian says revenues have 10x’d in the past four years.

What’s new: Therabody introduced SmartGoggles, a heart beat-lowering and stress-relieving eye mask, as well as TheraMind — a re-rebrand of the SoSound content now available across its app, goggles, and lounge chair.

Takeaway: Consumers now value feeling good more than looking good. With an ecosystem of products and services that build you up head to toe, inside and out, Therabody is cashing in on the expanding definition of wellness.

Breaking down the business of fitness and wellness

Subscribe to receive industry headlines, trend reports, and investment activity — delivered every Tuesday.

    No thanks.