Aescape announced its $30 million Series A funding round led by Valor Siren Ventures and Valor Equity Partners, with participation from new and existing investors. This funding brings Aescape’s total funding to date to $47.5 million.
The technology company designs fully automated, data-driven massage therapy experiences. With this funding, the company plans to enhance its AI-powered technology and release the Aescape Experience into the U.S. market in 2023. The tech-driven massage experience was created to help fill the widening labor shortage and growing demand for massage therapy.
“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 Litman and the Aescape team to create the new gold standard for soft tissue therapy.”
Recent research from the International Spa Association (ISPA) revealed that the U.S. 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.
Aescape aims to solve this and help grow the industry by providing operators with a scalable, reliable solution that augments the labor shortage, acts as a support tool for massage therapists and athletic trainers and gives customers a consistent, data driven approach to recovery.
The company is seeing strong partnership traction with businesses and global leaders across a wide range of categories, and has signed 17 partners who will be the first to launch the Aescape Experience at their locations.