AUSTIN, Texas--(BUSINESS WIRE)--Restore Hyper Wellness + Cryotherapy (Restore), the nation’s leading provider of alternative wellness solutions, announced today an $8 million investment from Level 5 Capital Partners (Level 5). The company also opened its 50th location in May, up from 21 stores in May 2019. Level 5’s investment in Restore will help accelerate innovation in delivering novel wellness solutions to clients, and fuel future growth nationally and internationally. As part of the transaction, Chris Kenny, Managing Partner of Level 5, will join Restore’s Board of Directors.
“We are partnering with Level 5 because of their strong track record in building and investing in wellness businesses that provide services to local communities at scale across markets and because of our strong alignment in values,” said Jim Donnelly, Co-Founder and CEO of Restore. “This partnership will help us accelerate the expansion of new locations and bring Restore services to more communities around the world.”
Founded in 2015, Restore is the market leader in one of the fastest growing segments of healthcare. The company helps people in need of chronic pain management, accelerated injury recovery, improved athletic performance and healthspan longevity. Its most popular services include:
- Whole Body Cryotherapy. A cold therapy that immerses the body in temperatures as low as -260oF for up to 3 minutes. This modality releases endorphins and reduces inflammation in the body. It provides a mood and energy boost, relieves muscle pain, improves sleep, and burns 500 - 800 calories per session.
- IV Therapy. IV therapies deliver vital hydration and micronutrients that provide a range of benefits, including helping detoxify the body and improving its immune function, brain health, energy and longevity.
The company began franchising in 2017. By the end of 2020, Restore plans to grow to over 100 stores nationally (up 294% year-over-year) and deliver over 750,000 services to clients (up 300% year-over-year).
“The Level 5 team is proud to partner with Restore as they align well with our focus on the health, wellness and family markets,” said Chris Kenny, Managing Partner of Level 5. “They deliver an exceptional and unique local alternative wellness solution in a way that generates significant value for Restore’s members, and its franchisees. We are excited to participate in the next phase of Restore’s hyper-growth to 500 units with the goal of changing lives locally through health and wellness.”
The partnership with Level 5 provides growth capital and management expertise for significant national and international expansion, as Restore prepares to open 500 locations by the end of 2024. The capital will also be used to accelerate innovation in Restore Labs which focuses on the following key areas:
Research & Development
Restore’s new research and development division, launched in March 2020, focuses on testing new, science-backed therapies, as well as designing and developing its own innovations to modalities. Its goal is to bring novel methods of healing to Restore clients at scale. Restore Labs recently introduced a proprietary electric whole body cryotherapy chamber they designed and developed that revolutionizes the experience of whole body cryotherapy. The Restore Labs facility is located at the company’s Arbor Trails location in Austin, TX and is open to Restore clients.
Wellness on Demand
Restore’s wellness experience extends beyond its retail locations. Registered Nurses are available on demand to visit clients’ homes and workplaces to administer IV therapies, intramuscular shots, and various medical tests to make wellness comfortable, convenient and accessible via a mobile app.
Digital Health & Return on Wellness
In recent decades, the medical community has achieved significant breakthroughs in understanding the science of why we age. Restore’s therapies help your body recover and feel better immediately. They also positively impact factors that contribute to aging and can potentially slow that process down. Restore’s wellness platform will integrate data across clients’ health and activity tracking devices, usage of Restore therapies, and results from its various medical tests. The platform will then provide clients with a deeper understanding of their health, as well as guidance to extend their healthspan and achieve a state of being that Restore has coined Hyper Wellness®.
“We see a massive opportunity to bring a fully immersible Hyper Wellness experience to our clients that ties together our retail, at-home and at-work experiences with a digital experience that provides data, guidance and measurable outcomes for their health,” said Steve Welch, Co-Founder of Restore. “Improving your health and wellness should be fun, engaging and accessible, whether you’re managing chronic pain, recovering from an injury, training for an athletic event or just want to feel better as you age.”
Restore has won several awards recently for its growth and culture including the following:
- #113 Inc. 5000 Fastest Growing Private Company in America
- #17 Inc. 5000 Fastest Growing Private Companies in Texas
- #1 Inc. Magazine Hottest Franchise Businesses in America
- Austin Chamber Greater Austin Business Award for Employee Health & Wellness
“Health and wellness has never been more top of mind for consumers than it is today. People are realizing the need to take a proactive approach to their wellness,” said Donnelly. “We’re providing innovative wellness experiences in fun and welcoming environments, and making them accessible, so everyone can feel better and do more of what they love with the people they love.”
About Level 5 Capital Partners
Level 5 Capital Partners was founded in 2009 by Fortune 1000 retail services and technology executives to invest in high-end wellness and lifestyle offerings with a focus on yoga. The Level 5 team expanded an investment to build one Core Power Yoga studio into CorePower Yoga’s largest franchisee with 34 locations and the third-largest national yoga studio operator in less than a decade. Level 5 also has investments in a leading franchisee of Orangetheory® Fitness with operations in the Michigan area and Big Blue Swim School, a fast-growing franchisor. Level 5 developed scalable local market expertise by investing in our people and a centralized operating platform, which we seek to leverage for our portfolio of Level 5 companies and concepts.
About Restore Hyper Wellness + Cryotherapy
Launched in Austin, Texas in 2015, Restore Hyper Wellness + Cryotherapy (Restore) is the leading retail provider of Hyper Wellness® services in the United States. As a comprehensive health and wellness center, Restore provides whole body and localized cryotherapy, IV drip therapy, stretch therapy, Hydrafacial, Cryoskin Facial, Slimming and Toning, mild hyperbaric oxygen therapy, infrared sauna, red and near infrared light therapy, compression therapy and micronutrient testing. In its efforts to make wellness treatments more affordable and accessible for everyone, Restore is dedicated to helping as many people as possible feel better, so they can do more of what they love.