Othership raises $11.3 million to expand sober wellness concept in the US
Contrast bathing and social wellness start-up Othership has raised US$11.3 million (€10.5 million, £8.94 million) to expand its presence across the US.
The Toronto-based firm is known for its social sauna and ice bath experiences, with three existing sites – two in Toronto, Canada and a US flagship in the Flatiron district of New York City.
Othership will use the funds to increase the number of its sites in New York. The company is already expecting to open its second New York City location in the Williamsburg neighbourhood at the end of this quarter.
Co-founder Robbie Bent previously told Spa Business magazine, “We selected New York because it’s the largest city in North America and it’s one of the most vibrant cities in the world in terms of the art and technology scene and the type of interesting people that live there.”
Backers include pop artist Shawn Mendes and SoulCycle co-founder Elizabeth Cutler as well as a number of investment companies, such as Vine Ventures, Rocana Ventures, 5D World, Arben Ventures, DML Group, AG Ventures and Ambush Capital.
The concept
The concept was created by Bent and four other sober wellness enthusiasts in 2019 in his backyard, with limited facilities and resources. Once he quit drinking, he looked for social alternatives that could help him maintain his sobriety and to connect with people.
He said, “There was a time not long ago when we were running ice baths in my backyard. One tub. One person at a time. No app. No brand. Just us, folding towels, lighting candles, trying to make someone feel safe enough to breathe a little deeper, cry, sometimes and feel something. That’s how Othership started – as a feeling – that people were lonely, numb and starving for connection. And that hospitality — real, human hospitality — could be something special.”
Othership’s modern bathhouse circuit launched in 2022 with the opening of its first 3,000sq m property in Ontario, Canada. It has a 50-person sauna and four ice baths.
The company now also offers sauna and ice bath circuits with music-driven emotional breathwork sessions led by trained guides. There is also an app for these breathwork sessions to be completed away from the bathhouses.
The funding
The funds were raised using a Simple Agreement for Future Equity (SAFE), according to Canadian business and technology news provider TheLogic.com. A SAFE contract is used in early-stage funding, providing companies with immediate capital and investors have the chance to receive equity at a discount when triggered by events – such as further funding rounds or the sale of the company.
The next step for Othership is reportedly to raise a Series B round of funding to help the concept reach other parts of the US. In January 2023, Othership closed its US$8 million (€6.8 million, £5.9 million) Series A round and prior to that it closed a US$1.3 million (€1.1 million, £1 million) seed round a month after opening.
Othership Robbie Bent sober wellness
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