htmlOn September 20, Therabody, the global health technology leader, announced the completion of a US$165 million growth equity financing, launching eight new products worldwide and releasing two innovative products in China, focusing its product line on the field of whole body health, with recognized advantages in product performance, pain relief, stress and improving sleep quality.
The financing was led by private equity firm North Castle Partners, LLC, and existing investors such as Kevin Hart from HartBeat Ventures and Aaron Rodgers from Rx3 Ventures were also involved. J.P. Morgan served as the company's financial advisor in this transaction. Therabody will use the funds to continue investing in innovations in hardware, software, services (including Therabody’s whole body health care center Reset) and digital content. With this unique product portfolio, Therabody aims to inspire consumers’ mind and body.
"Therabody is the creator of the impact therapy relaxation device ( fascia gun ), and we are excited to work with Ben and his team to create technology-enabled health solutions to promote healthy and active life," said Alison Minter, partner at North Castle Partners. "As the founder of the fascia gun category and the industry-leading high-end brand, Therabody has proven its ability to continuously surpass health technology barriers through its high-frequency new product launch strategy over the past year." Research by
NPD Group stated that in Therabody Among the impact therapy equipment category, TheragunⓇ is the best-selling relaxation device in the same price range, accounting for 71% of the U.S. market share in the past 12 months. Therabody's market dominance has translated into financial success, with Therabody's revenue growing by more than 13 times between 2018 and 2021. In February 2021, Therabody completed its first financing, with its bright roster of investors including athletes, financial sponsors, opinion leaders and other celebrities.
This time, Therabody launched eight new products worldwide, and two new products were launched in China, namely Theragun G5 PRO and Theragun mini 2.0.
Therabody's new product continues the brand's commitment to health technology innovation, allowing consumers to better manage their physical and mental health:
Theragun G5 PRO: The world's first handheld impact therapy relaxation device, which has been scientifically proven to be effective in helping users' physical recovery, daily and sports performance, sleep state, pain relief and stress management. Powered by QuietForce Technology™, Theragun G5 PRO's new EQ-150 motor has been fully upgraded to provide excellent power to Theragun and is 20% silent than the previous version. The product also comes with a built-in color OLED screen that can display multiple consumer customized relaxation plans, allowing users to relax their bodies more accurately and easily. Official retail price: ¥4899
Theragun mini 2.0: Theragun mini 2.0 is 20% smaller than the previous version and has a weight reduction of 30%. It is certified to relieve pain and effectively promote recovery. Its lightweight design is easy to carry and use with you. Compared with other relaxing devices on the market, Theragun mini 2.0 has an amplitude of 12 mm, which is smaller in size and more powerful. It can be connected to Therabody's app via Bluetooth to access personalized health recovery solutions. Theragun G5 PRO and Theragun mini 2.0 now include Type C interfaces, which can speed up charging. Theragun mini 2.0 will be available this fall. Official retail price: ¥2099
In addition to the two innovative products launched in China, Therabody has the remaining six products launched worldwide. This product matrix supported by brand patent technology will help people's body and mind to achieve all-round immersive soothing and relaxation.
SmartGoggles is an immersive balance eye ring. Through the brand's patented technology SmartSense, it can immerse yourself in the body and mind. It can also be connected to TheraMind. Through music therapy , it is combined with the product's own vibration, heating and air pressure massage, which can effectively relieve headaches and tension and optimize sleep state.TheraMind is a patented sound therapy product, a scientifically based sound therapy product designed to use musical elements and audio technology to improve physical and mental health. With state-of-the-art equipment, RecoveryTherm Hot & Cold Vibration Knee combines hot and cold physiotherapy with vibration therapy to help recover, stay healthy and relieve pain, RecoveryTherm Hot & Cold Vibration Knee is also a wearable device that provides precise heat sensing and vibration therapy to relieve chronic low back pain as well as mild muscle sprains, injuries and menstrual pain. TheraCup is a cutting-edge three-in-one solution that combines traditional cupping with high-end ThermaVibration technology to blend heat and vibration for local soothing and recovery through an easy-to-use digital cupping experience. Therabody Lounger is a zero-gravity lounge chair that helps users get into deep relaxation, concentration or sleep.
SmartGoggles
TheraCup
Therabody Lounger
"We believe that everyone can enjoy a healthy state through innovative, personalized and scientifically supported products." Benjamin Nazarian, CEO of Therabody, said: "Consumers pay more attention to their physical and mental health than ever before. The ecosystem formed by our brand new products can not only bring a happy future into life, but also represent the Therabody brand’s own innovation provides technical support for everyone’s physical and mental health. ”
This product launch and financing plan put a successful end to Therabody’s landmark innovation year. In January, the health technology company launched its second-generation RecoveryAir pneumatic compression boots, including the first wireless JetBoots, which are now used by about 100 sports teams. In April this year, Therabody launched the TheraFace PRO Facial Health Care Device, a versatile and integrated portable device with a total of eight treatments for the face, optimizing Therabody’s famous impact therapy to relax facial muscles and reduce facial tightness.
If you want to know more about Therabody's brand information and related consultations, please visit therabody.com official website or search for Therabody on Weibo, WeChat, Douyin and Kuaishou platforms to follow us.
About Therabody
Therabody is a global leader in health technology, committed to allowing everyone to naturally enjoy a better physical state and be born far away. Dr. Jason Wersland, founder of Therabody, invented and defined the world's first impact therapy relaxation device, Theragun, to relieve muscle and nerve pain after a serious accident. Therabody's products and ecosystem have been innovatively researched and upgraded, expanding from muscle recovery to hardware products, patented software, digital content and biometric technology , all of which have been proven to be beneficial to the physical and mental health of everyone. As a technology-led health brand, Therabody makes full use of inherent patented technologies, combined with internal and external research results, and continuously innovates products and services. It has long been widely recognized by the medical community, sports and beauty fields and trusted and supported by millions of consumers around the world. Therabody products are currently available in more than 60 countries and regions around the world, including Therabody's direct retail stores and body health care center Reset (not yet released in China). This product line contains Therabody's patented technology and personalized real-time physiotherapy through biometric technology. For more details, please visit www.therabody.com, or search for Therabody on Weibo, WeChat, TikTok and Kuaishou platforms to follow us.
About North Castle Partners
North Castle Partners is an industry-leading private equity firm focusing on investing in consumer-oriented products and services that promote healthy, positive and sustainable lives. North Castle is an investment company that integrates fitness, entertainment and sports, consumer health, beauty and personal care, home, leisure and nutrition, etc. North Castle’s current portfolio includes well-known brands such as Barry's Bootcamp, CR Fitness, HydroMassage, BlueRoot Health, Five Iron Golf, Sparx Hockey, Glow Recipe, Genexa, VitaCup, Mack Weldon and Echelon.Previous portfolio companies have included SmartyPants Vitamins, Full Swing, Atkins Nutritionals, Contigo, Jenny Craig, Octane Fitness, Cascade, Equinox Fitness, EAS, Doctor's Dermatologic Formula, Naked Juice, Flatout Flatbread and Avalon Organics/Alba Botanicals. North Castle works with management teams and founders to create a world-renowned enterprise by tapping into the rapidly growing capabilities of potential partners, bringing a broad strategic layout and operational capabilities. North Castle is headquartered in Greenwich, Connecticut.
