Expanding to New York City, wellness social club Remedy Place raised $5 million in a funding round.
WHO: Based in West Hollywood, Remedy Place is a revolutionary new concept redefining the world of self-care. The exclusive club offers wellness and recovery services as well as a focus on community with lounges and a bar serving non-alcoholic beverages. The wellness club was founded in 2019 by Dr. Jonathan Leary, a Concierge Wellness Doctor with a bachelor's degree in kinesiology and a doctorate in chiropractic medicine and alternative medicine.
The LA location is limited to 200 memberships, with many being invite-only. Dues run $500 a month, and members can purchase à la carte wellness services at a discounted rate; an all-access pass is available for $2,500 a month. Non-members are also welcome to book full-price treatments based on availability.
On September 4, Remedy Place will open a 7,200-square-foot club in New York City's Flatiron District. There will be 300 memberships sold, and a base membership will be $600 per month or $2,750 a month for unlimited services.
WHY: The funding from this investment round will be used to open the New York club; other locations are reportedly funded and in the works.
IN THEIR OWN WORDS: "It's a whole club that's centered around holistic self-care—it's made to enhance your health and your social life at the same time," Dr. Jonathan Leary, founder and Chief Executive Officer of Remedy Place, told WWD. "Almost every single investor, I've treated at least once. "
"It's not like a spa where you isolate yourself in each room," Leary said. "Everything there in the club, you can do by yourself, but we'd actually rather you do with others, as a substitute for what you normally do to socialize."
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