Get A Drip has announced a $4.5m Series A fundraise led by Nigel Wray, a former chairman of Saracens Rugby Club, best known for his investment in Domino’s Pizza.
The raise, which has also garnered investment from former Holland & Barrett CEO, Tony Buffin, will see Get A Drip further drive franchise expansion with plans to launch 28 clinics in the next three to 12 months, including a brand-new flagship site in Chelsea, London, and others spread across Europe, North America, the Middle East and Australia.
In addition to its expansive franchise rollout, Get A Drip will use the funding to expand its service offering considerably, with cryotherapy, ozone, hyperbaric oxygen and red-light therapies among ground-breaking technologies to come.
The new technologies will match industry-leading standards and provide the highest-quality service on the market as Get A Drip looks to further democratize the health and wellness industry.
Founder and CEO, Richard Chambers, explained: “When I set up Get A Drip five years ago, the goal was to democratise the IV drip space, having felt the benefits first-hand.
“To now be at a point where we’re looking even further beyond that, and at how we can make a whole suite of health and wellness technologies more accessible to consumers to improve their wellbeing is really exciting.
“To have investors with the experience of Nigel and Tony on board shows how far we have come in a short space of time, and their support and advice will no doubt only further our ambitious growth plans, building out our franchise portfolio and driving the business forward. I also cannot wait to open our new HQ in Letchworth in giving back to the local community where I live and grew up.”
News of the investment comes at a time when the wellness market is valued at a growing $4.4tn, and the IV therapy and vein access markets and supplements markets – at $54.9bn and $163.9bn respectively.
Lead investor, Nigel, added: “Looking at the research we know over a third of the U.K. population supplement their diet with daily vitamins too, so the market is there. I think there’s huge untapped potential in the way in which Get A Drip are democratising wellness services to open up accessibility beyond the super wealthy and in hospitals.
“The business’ growth to date has been impressive and I’m looking forward to working with Richard and the team to help them continue on this path in the long term.”