Soothe, an on-demand massage company based in Los Angeles, raised $35 million in growth financing led by returning investor The Riverside Company. The round brings Soothe’s total funding to $47.7 million.
Los Angeles (Mar. 10, 2016) — Soothe, the largest and fastest growing on-demand massage and wellness company, today announced that it has closed $35 million in growth financing led by its previous investor, The Riverside Company. This new funding will allow Soothe to bring licensed and vetted five-star massage therapists to every major US market so that new and existing clients can enjoy the convenience of booking same-day, at-home massages in as little as an hour.
With $47.7 million in funding to date, Soothe has launched in 22 cities since its inception in 2013 and has plans to launch in 20 more before year end. Beyond inserting massage into the on-demand economy, Soothe is empowering more than 3,000 of its independent massage therapists to earn three to four times more than the industry standard. This competitive advantage ensures that Soothe’s highly skilled massage therapists receive the pay they deserve, all while managing a work schedule that’s flexible and convenient.
“We’re thrilled by the demand we’re seeing among clients and massage therapists alike who are eager to experience on-demand massage as a routine form of wellness,” says Soothe’s founder and CEO Merlin Kauffman. “Our growth is in large part due to the incredible experience Soothe’s massage therapists provide, and it’s only just the beginning for us.”
Soothe’s founder and CEO Merlin Kauffman created the company while at Harvard Business School, a period when he was frequently traveling, and found it difficult to schedule a massage appointment outside standard business hours and locations. What started as a solution to his own problem, however, has grown into a flourishing business, with the number of massage therapists on the platform more than doubling since last year.
“While many companies have failed on the promise of ‘Uber for X,’ Soothe is a proven leader in a valuable market, and we’re eager to support them again as they look to expand,” said Riverside Company Managing Partner Loren Schlachet.
Massage is estimated to be a $14 billion dollar market in the U.S., and Soothe is meeting this demand by bringing the healing power of massage to clients’ preferred destinations in as little as an hour. Soothe offers a variety of massage options, including Swedish, Deep Tissue and Couples Massage, allowing clients to book a customized experience to meet their wellness and relaxation needs.
Soothe, the on-demand massage service and app, lets users schedule a same-day massage in the privacy of their home or hotel. Soothe currently serves the following cities and regions: Los Angeles, the San Francisco Bay Area, New York, Atlanta, Austin, Boston, Chicago, Dallas, Fort Worth, Ft. Lauderdale, Houston, Indianapolis, Miami, Minneapolis, Philadelphia, Phoenix, San Diego, San Jose, Scottsdale, Seattle, Vancouver (British Columbia), and Washington D.C..
For more information, visit soothe.com or call 800.960.7668.