AUSTIN, Texas--(BUSINESS WIRE)--Restore Hyper Wellness (Restore), a leading provider of proactive wellness solutions, today announced a $140 million investment led by General Atlantic, a leading global growth equity firm. Piper Sandler & Co. served as the exclusive advisor to Restore. Restore plans to leverage the investment to help accelerate its rapid growth and deliver innovative technology to further propel the promise of Hyper Wellness®, a category pioneered by Restore.
Founded in 2015, Restore is designing an integrated wellness experience and creating proprietary protocols to improve consumers’ near and long-term health. Restore delivers expert guidance and the most extensive array of cutting-edge wellness modalities integrated under one roof. Restore’s most popular modalities include:
- IV Drip Therapy. A modality that infuses a liter of saline with essential vitamins, nutrients, minerals and amino acids. Restore’s medical team provides guidance to customize an IV drip and help achieve health goals, whether they be boosting energy and focus or recharging the body’s defenses.
- Whole Body Cryotherapy. A cold therapy that immerses the body in temperatures as low as -166oF for up to 3 minutes. This modality may help to optimize sleep, relieve pain and swelling, decrease stress, boost mood and energy and help heal injuries.
Restore is the largest retail provider of IV drips in the U.S. and has designed one of the best whole body cryotherapy experiences in the world through its proprietary cryotherapy chambers, available only at Restore locations.
“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,” said Jim Donnelly, Co-Founder and CEO of Restore. “We’re defining a new healthcare experience that we describe as effective, social and transparent. Our prevention-first model (vs. the traditional sick care model) is still new to many consumers and communities. For this reason, it was important to find an investment partner that has experience helping build new categories. We are excited to partner with General Atlantic because of their strong track record of investing in category-creating brands.”
“Jim and Steve are visionary founders who have created a new comprehensive model that seamlessly integrates proactive wellness and preventative medicine,” said Shaw Joseph, Managing Director at General Atlantic. “We look forward to leveraging our experience supporting innovative, high-growth businesses as we partner with the Restore team to scale their services to populations of all kinds, from chronic pain sufferers to elite athletes.”
“The average American lifespan is 79 years, while the average American healthspan—the years we live in general good health and disease free—is only 63 years,” said Steve Welch, Restore’s Co-Founder. “That means that the last 16 years of the average American’s life is increasingly debilitated, unable to do the things they love. Through Restore’s Hyper Wellness model, customers can feel better every time they visit. Long-term, we hope to prove we can help extend our clients’ healthspans, allowing them to continue to live life to the fullest while simultaneously reducing the healthcare costs of the system.”
Restore’s footprint includes 115 predominantly franchised locations in 34 states. In 2021 alone, Restore is poised to deliver over 1.5 million services. The Restore system now employs over 2,400 people nationwide. In 2022, Restore aims to open a new store every four days, on average. Restore serves a wide range of demographics across gender, age and socioeconomic backgrounds.
In 2021, the company’s system-wide sales have grown by 158%, which follows similar year-over-year growth from 2020.
“We believe that Restore is very well positioned to capture a meaningful share of the high-growth, fragmented and underserved wellness market,” said Lexie Bartlett, Principal on General Atlantic’s Consumer team. “As consumers take a more proactive approach to managing their health and wellness, the Restore team has developed an integrated, multi-modality offering to provide new treatment solutions that can meet their diverse needs.”
Jim Donnelly continued, “The democratization of wellness is long overdue. 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.”
About General Atlantic
General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 445 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic currently has over $86 billion in assets under management inclusive of all products as of September 30, 2021, and more than 215 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore and Stamford. For more information on General Atlantic, please visit the website: www.generalatlantic.com.
About Restore Hyper Wellness
Launched in Austin, Texas in 2015, Restore Hyper Wellness (Restore) is the award-winning creator of an innovative new category of care—Hyper Wellness®. Restore delivers expert guidance and an extensive array of cutting-edge wellness modalities integrated under one roof. These modalities include biomarker assessments, IV drip therapy, intramuscular (IM) shots, mild hyperbaric oxygen therapy, whole body and localized cryotherapy, infrared sauna, red light therapy, compression, assisted stretching, HydraFacial and Cryoskin. Restore’s mission is to make Hyper Wellness accessible and affordable so people can do more of what they love to do.