Expensive Wellness Brand Therabody Picked Up By CE Retailers
Leading tech wellness brand Therabody, which sells Theragun massage devices from retailers such as JB Hi-Fi, Harvey Norman and Bing Lee, has raised equity from over 100 celebrity investors.
Therabody opened up this round of investments to accelerate expansion both in Australia and globally.
Big name celebrities such as rapper Jay-Z, singers Justin Timberlake, Rihanna and model Karlie Kloss have invested in the tech company – many of whom already use Therabody products.
“To have such a significant number of premiere 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 of Therabody.
“Therabody has grown exponentially not only because of our commitment to efficacy and research, but because of the trust that our customers have in what we develop. Our investors not only see the value in taking care of their bodies naturally, but they are investing in both the industry and in a brand that they believe is creating impact.”
US-based Therabody has been in operation since 2017 and grew its profits by more than 30x in 2020.
It has expanded into more than 60 countries and increased retailer distribution to 10,000 doors in 18 months, including in JB Hi-Fi, Harvey Norman, Bing Lee, David Jones and Rebel Sport in Australia.