‘Democratization of wellness’
Austin-based wellness business heats up with $140 million infusion
An Austin wellness company whose stores specialize in services like IV drip therapy and “whole body” cryotherapy has landed a $140 million investment that’ll fuel an expansion of the brand.
New York City-based private equity firm General Atlantic led the funding round for Restore Hyper Wellness. Today, Restore’s retail network comprises 115 mostly franchised locations in 34 states. Buoyed by the fresh infusion of cash, the company plans to open a new store every four days, on average, in 2022. At that pace, Restore will grow by about 90 stores next year.
Founded in 2015, Restore — which has eight locations in the Austin area and 22 locations throughout Texas (with more on the way) — offers a menu of wellness services that include:
- IV drip therapy. This service infuses a liter of saline with essential vitamins, nutrients, minerals, and amino acids. The concoction is administered to customers through an IV drip.
- Whole body cryotherapy. This therapy immerses the body in a cryotherapy chamber at temperatures as low as minus 166 degrees for up to three minutes. Restore says this service may help improve sleep, relieve pain and swelling, reduce stress, boost mood and energy, and heal injuries.
- Red light therapy. Also known as photobiomodulation therapy, this uses red and infrared wavelengths of light to help boost energy levels, relieve minor pain and swelling, and improve mood.
“We believe everyone should have access to proactive health modalities that help them feel their best so they can do more of what they love,” Jim Donnelly, co-founder and CEO of Restore, says in a news release. “We’re defining a new healthcare experience that we describe as effective, social, and transparent.”
Restore says sales across its nationwide platform grew 158 percent this year compared with last year.
“The democratization of wellness is long overdue,” Donnelly says. “Better outcomes and options should not be reserved solely for the affluent. We take great pride in making Restore accessible to every walk of life. In return, our avid customers have become great brand ambassadors and are providing the gift of better wellness when they bring their friends and family to Restore.”