Massage therapy has many important benefits, including improved circulation, lower heart rate and blood pressure, improved immune function, reduced inflammation and pain, and reduced stress levels. has little innovation and relies heavily on manual labor. A workforce facing a shortage of over 29,000 therapists. This drives billions of dollars in industry revenue in the United States alone. escape has built an automated message therapy solution in the form of a modern, sophisticated massage table that mimics human touch while providing data-driven insights. The company targets the hospitality, wellness and athletic markets with a comprehensive Aescape Experience developed by a team of performance, AI, healthcare, fitness and robotics industry experts. Born out of the founder’s personal experience finding treatment options for his stiff neck, Aescape is on a mission to make massage therapy available after its launch in late 2023.
alley watch Catch up with Aescape’s CEO and Founder Eric Litman To learn more about the business, the company’s strategic plans, the latest funding round, and more…
Who are your investors and how much did you raise?
Aescape has raised $30 million in Series A funding. valor siren ventures When Valor Equity Partnersearly investors Tesla When space x, Fifth WallWhen Array Robotics Venturesand from existing investors Crosslink Capital, Alumni VenturesNBA Champion and All-Star Kevin Love.
What products or services does Aescape offer?
Aescape is helping multiple industries to grow their physical health and recovery services by providing workforce augmentation solutions that enable hotels to increase customer demand, satisfaction and retention through innovative massage therapy solutions. We help meet demand. According to Forbes, the wellness industry grew his tourism by 21%, but the U.S. massage industry is losing $4 billion a year to a shortage of more than 29,000 of his therapists (iSPA 2022). .
Aescape offers beautifully designed, fully automated therapeutic massage and wellness experiences to help people feel healthier, happier and more rejuvenated.
Service providers benefit from:
- meet demand Ability to fill labor shortages and serve members 24/7
- new revenue streams By capturing demand and offering add-on services,
- Creation of repeaters Through the convenience and efficiency of the experience and the ability to facilitate instant bookings
- Increased brand awareness for providers As an innovator and industry pioneer
- Servicing and maintaining existing therapists – Alternative treatments allow more flexibility in staff planning. With Aescape, massage therapy becomes a perk for Onhis staff his therapists who work long hours and need massage treatments on their own.
What inspired you to start Aescape?
I founded Aescape in 2017 to solve a personal problem: a debilitating stiff neck that was compromising my quality of life. As a frequent traveler, I struggled to find consistency between treatments and saw no other solution, so I set out to create products that would give people control over their experience.
Aescape Experience is built by some of the best-known talents in robotics and human performance with experience at Accenture, Amazon, Apple, FitBit, Intuitive Surgical, Peloton, and Tonal, and has been in development for over five years.
How is Aescape different?
Aescape is unique in offering a fully automated, self-directed massage therapy solution for those who want more control over their treatment plans. Members can choose the treatment style and length to suit their thinking about their needs. The system provides an insightful and intuitive tablet display with interactive tools for controlling areas of therapeutic focus, pressure, and sequencing.
The massage therapy programs offered have been curated in partnership with highly skilled therapists to provide an exceptional and unparalleled experience.
The platform tracks each member’s sessions, optimizes treatment plans, and provides recommendations and solutions to understand your body. Over time, Aescape can report on improvements in her body and through a connected app, show her Aescape benefits in correlation with mindfulness, better sleep, and fitness/exercise performance. will be
What is Aescape’s target market and size?
Aescape is for people who want to live a healthier and happier life. The total market opportunity for The Aescape Experience is estimated at 39% of adults, or 101 million potential tryers. A survey of 4,000 respondents found that her 4M latent who is not currently getting a massage due to body barriers such as being naked in front of strangers or touching a stranger’s body. You can see that you have a new audience. that.
what is your business model?
We partner with a company that provides massage services. Our team installs, trains and supports companies using Aescape Experience and provides ongoing product and treatment updates.
How are you preparing for a potential economic slowdown?
We have raised an additional $30 million to support our team through the market conditions we may face in the future. We are run by disciplined operators who have experienced multiple recessions and believe that some of the world’s best businesses are built in difficult times.
What was the fundraising process like?
We found the capital markets very receptive to this round of funding due to our compelling product and significant market traction. We received multiple high-quality terms from top-tier investors and eventually partnered with Valor for their experience in building sustainable deep tech brands.
What was the biggest challenge you faced in raising capital?
Our challenge was to raise early rounds where the proof points were lighter.
What factors in your business are driving investors to write you checks?
Our massage experience was amazing and fits our message of “try once, believe forever”. The market has clearly demonstrated that we believe in what we are building and our thoughtful approach to capital allocation puts us in a position to define and lead this category.
What milestones do you plan to achieve in the next six months?
- Our market launch products will be ready for alpha and beta testing
- Invite signed partners to pilot the latest innovations at Aescape HQ.
- We will bring Aescape to our partners in the middle of next year and use the location to learn about product optimization
What advice can you give to New York companies that haven’t injected fresh capital into their banks?
Prove yourself in the market as soon as possible. The method must be cunning. It doesn’t have to be a traditional approach to verification.
Where do you see the company going now in the near future?
We accelerate our growth with partners who see themselves as innovators and category pioneers. Work with partners to define experience, pricing, and go-to-market strategy.
What is your favorite restaurant in the city?
Too many to narrow down to one. Strangeways for brunch. Chino Grande for lots of fun. Aldama on crispy tuna tacos. Mary Lane for a nice dinner. Sichuan Yamakan serves spicy dishes that can be shared. Amor y Amargo for fun cocktails.
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https://www.alleywatch.com/2022/11/aescape-automated-massage-therapy-table-eric-litman/ Aescape Raises $30M to Modernize Massage Experience with Fully Automated Massage Table – AlleyWatch