Aescape, a technology company building fully automated, data-driven massage therapy experiences, raised a $30 million Series A funding round led by Valor Siren Ventures and Valor Equity Partners, an early investor in Tesla and SpaceX. This round brings the company’s total funding to date to $47.5 million.
WHO: Founded in 2017 by Eric Litman and headquartered in New York City, Aescape redefines the massage and wellness category through intelligent technology. The company brings together innovative research, a customizable user experience, and a comprehensive, insights-driven approach to physical wellness and recovery that enables hospitality brands, medical and wellness practitioners, and elite sports teams to deliver advanced massage therapy and holistic wellness experiences that mimic human touch. The product will launch in the US market in late 2023.
WHY: After a seismic shift in the industry, the company created The Aescape Experience to help fill the widening labor shortage and booming demand for massage therapy. ISPA, the International Spa Association, shows that the US massage therapy industry is experiencing revenue loss of up to $4 billion annually due to a shortage of more than 29,000 therapists, with 82% of resort/hotel spas and 71% of day spas reporting staff shortages.
IN THEIR OWN WORDS: "Our team at Aescape is working to bring beautifully-designed, fully-automated, therapeutic massage and wellness experiences to market with a solution that combines innovative research, revolutionary technology, and a holistic approach to physical wellness and recovery," said Eric Litman, founder and CEO at Aescape. "This funding means that our partners are not only investing in our shared vision and world-class team, but also in the future of the wellness industry overall. We're grateful to our investors for believing in our dream, and we look forward to launching The Aescape Experience in 2023."
"We believe there is a significant opportunity to modernize the category of physical recovery, and Aescape's pioneering approach to treatment, user experience, and safety should have a considerable role to play in the transformation of the industry," said Jon Shulkin, Co-President of Valor Equity Partners and Fund Manager for Valor Siren Ventures. "We're grateful to partner with Eric and the Aescape team to create the new gold standard for soft tissue therapy."
“Aescape is on the forefront of consumer innovation, providing a fully-automated massage table that not only solves for the industry's immense labor gap, but fundamentally enables a more advanced and accessible experience," shared Kevin Campos, Partner at Fifth Wall. "The application of their deep proprietary technology can span the built world from an employee perk boasted in office spaces, an essential health benefit offered in medical offices to an amenity provided in hotel spas and beyond. Our extensive limited partner network is comprised of the world's largest corporates across the real estate value chain, who will undoubtedly not only benefit from, but also provide value to Aescape's deployment."
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