Modern Acupuncture, the first franchise of its kind to make the natural health benefits of acupuncture available in an affordable way, has closed a Series A round of funding led by Strand Equity with participation by actress Cameron Diaz.
WHO: Founded in 2016, Scottsdale-based Modern Acupuncture is revitalizing the ancient practice of acupuncture at a time when people are seeking access to affordable wellness solutions to life’s stressors. The company has 49 Zen-inspired clinics across the country in 16 states, with plans to open 11 more by the end of 2019. Future expansion is also planned through developer and franchisee opportunities to qualifying entrepreneurs.
Strand Equity is a Los Angeles-based growth equity firm investing in the next generation of iconic consumer brands and services. Strand Equity is led by a team of experienced and successful investors and entrepreneurs. With a permanent capital base, Strand Equity maintains a flexible approach to structure and partnership, enabling dynamic entrepreneurs and management teams to accelerate growth and build durable businesses. Current beauty and wellness portfolio companies include Hum Nutrition, Wander Beauty, and Youth To The People.
WHY: Funds will be used to develop additional corporate infrastructure, support growth of the franchisee base, and explore new opportunities including international franchising and a proprietary product line.
IN THEIR OWN WORDS: Matt Hale, Modern Acupuncture CEO, said: “Our mission is fueled by the life-changing stories from our patients. We won’t sleep until everyone knows about the benefits of acupuncture. Our goal is to deliver all-natural health, beauty, and wellness to the masses in an affordable and convenient way. Most people are aware of the health benefits of acupuncture, but the no-toxin approach to skin health is a new concept for many and we believe everyone deserves to look and feel their best.”
Seth Rodsky, Strand Equity co-founder and Managing Partner, said: “Modern Acupuncture is changing healthcare by democratizing access to a revolutionary medicine with thousands of years of proven efficacy. We believe that this concept and this management team are uniquely qualified to bring acupuncture to the masses, and we could not be more excited to be a part of their journey.”
DETAILS:
