Therabody, formerly known as Theragun®, a global leader and innovator in wellness technology, has announced that it has raised capital from more than 100 names in sports, business, culture and entertainment. The round includes investments from Shawn Carter (Jay-Z), Larry Marcus’ Jay Brown and Marcy Venture Partners, Aaron Rodgers’ growth equity fund Rx3 Growth Partners, TRUE Capital Management, James Harden’s 13 Endeavors, Thirty Five Ventures by Kevin Durant and Rich Kleiman, and Kevin Hart’s Hartbeat Ventures.
The global group of investors includes nine current and retired professional quarterbacks, as well as notable individuals from the sports and entertainment worlds, many of whom already incorporate Therabody into their training, recovery and general wellness routines. Other high profile investors in the round include: 2 Chainz, Trent Alexander-Arnold, Josh Allen, Kyle Allen, Lance Bass, Cody Bellinger, Troy Carter, Kat Cole, Will Compton, Kirk Cousins, Daniel Craig, Cindy Crawford and Rande Gerber , Sam Darnold, Kevin De Bruyne, Brent Faiyaz, Pau Gasol, Andrew Gertler, Ashley Greene, DeAndre Hopkins, Julianne Hough, Desmond Howard, Maro Itoje, Nicky Jam, Rodney Jerkins, Karlie Kloss, Mau y Ricky, Shawn Mendes, DK Metcalf , Jordan Palmer, Pokimane, Albert Pujols, Marcus Rashford, Rihanna, Suzy Ryoo, Shiza Shahid, Maria Sharapova, Ryan Sheckler, Breanna Stewart, Marcus Stroman, Justin Timberlake, Bobby Wagner, Russell Wilson, and Ciara.
Benjamin Nazarian, CEO of Therabody, explains in an interview with Status what have been his keys to success and the next projects he has in hand.
How did the idea of creating Therabody come about?
In 2008, Dr. Jason Wersland, Therabody’s founder and director of wellness, invented the world’s first portable percussion massage therapy device, Theragun, as an alternative to surgery or pain relievers to treat injuries sustained in a car accident. motorcycle. In 2016, we introduced it to everyone to help improve the way people trained and recovered. As the wellness industry has evolved, we have learned more about what people need to achieve optimal health. We researched other technologies and found that there was an opportunity to develop an ecosystem of industry-leading solutions, products and services that made natural wellness personalized and achievable, which is why we changed our name from Theragun to Therabody in 2020. With the By rebranding, we further solidify our commitment to educate and empower consumers to take control of their own health and continue to do the things that move them.
What main difference does it have with its competitors?
Several things set us apart from our competitors. On the one hand, we have an incredibly vigorous and exhaustive R&D team and process that are committed to developing new products that are smart, innovative, and further improve the way customers care for themselves.
Additionally, our fourth generation Theragun Smart Percussive Therapy™ devices have higher amplitudes than other vibration therapy devices on the market, making our devices the most efficient and effective. We are also the first in the industry to launch an app that not only integrates with our devices to provide guided and personalized experiences, but shows users how to maximize the benefits of Theragun across a number of different use cases.
And finally, we also offer Therabody University, our proprietary educational division created and led by our founder, Dr. Jason Wersland, and our network of health and fitness professionals. Through Therabody University, we are providing our network of partners, ambassadors, and athletes with exclusive access to the most up-to-date research to effectively optimize training techniques, recovery, and injury prevention.
What billing closed in 2020?
Given all the uncertainty and challenges that 2020 presented, we were fortunate to have grown three times over 2019. At the end of the year, we opened five retail stores, are now available in more than 60 countries, and opened three international offices. We also announced some incredible partnerships, including the prestigious Real Madrid football club, and entered a number of major retailers in Spain, including El Corte Inglés, Sprinter and DeporVillage. Spain is a huge market for us and we hope to increase our presence in the market.
We also announced some incredible partnerships, including the prestigious Real Madrid football club, and entered a number of major retailers in Spain, including El Corte Inglés, Sprinter and DeporVillage.
How has the coronavirus crisis influenced the evolution of the company?
When the pandemic started, we had to re-prioritize our business strategy. We stopped our planned releases and announcements and focused more on supporting our community and developing donation initiatives. We donated Theraguns to healthcare workers around the world and created compelling social programs that brought our community together virtually during an isolated time. We also changed our marketing to reflect our “new normal” at home, educating the importance of taking care of yourself (physically, mentally, emotionally, and socially) during the most difficult and challenging times of our lives.
Upcoming projects that can be advanced?
We are aggressively investing in research and development to create unique products that will help people take care of their health naturally. We plan to revamp and relaunch in the first half of this year our Pneumatic Compression Technology, RecoveryPump®, which we acquired in November 2020. We are also expanding internationally as our team grows in Spain and the EU.
We plan to revamp and relaunch in the first half of this year our Pneumatic Compression Technology, RecoveryPump®.
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