Restore Hyper Wellness Raises $140M for Its Cryotherapy, IV Treatments
Restore Hyper Wellness, an Austin-based company that provides cryotherapy, IV drip therapy and other holistic health treatments, is feeling rejuvenated and ready for growth after a $140 million funding round led by growth equity firm General Atlantic.
Restore was launched in Austin in 2015, and it has since grown to 115 locations, mostly franchised, in 34 states.
The company’s two most popular therapies include IV drip therapy, in which a saline solution with vitamins, minerals and other nutrients is injected into the client to achieve a targeted health goal, and whole-body cryotherapy, in which one immerses their body in a minus-166-degree chamber for up to three minutes.
Restore studios also offer intramuscular shots, mild hyperbaric oxygen therapy, localized cryotherapy, infrared sauna, red light therapy and assisted stretching.
The Restore system employs more than 2,400 people nationwide, including 135 employees who work out of the company’s Austin headquarters. The company expects to hire another 85 employees at its headquarters in 2022.
Restore is hiring in all areas, but primarily technology, operations and marketing. David Fossas, the company’s chief marketing officer, said the technology roles include UX, product development and full-stack developers.
“We’ll be building technology that will help deliver a more technology-enabled experience, providing guidance and care to our clients not only in our retail locations, but also in their homes and workplaces,” he said. “This includes innovating on our new mobile app that’s launching in 2022.”
Restore’s sales have grown by 158 percent this year. In 2022, Restore aims to open a new store every four days, on average.
Restore prides itself on creating a new category of care, called Hyper Wellness, which describes the variety of holistic treatments that blend proactive wellness and preventative medicine.
Restore co-founder Steve Welch said in a statement that he believes their preventive approach will improve clients’ quality of life at an affordable price.
“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,” Welch said. “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.”