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UKHotViews©

 

Wednesday 15 May 2019

Investors improve Urban’s wellness with extra dosh

logoAs it happens, I had a dreadful night’s sleep last night as I was shifting some boxes around the house yesterday and must have twisted a muscle. Typically I’d go to my local physio; they charge £48 for a 30-minute pummelling and usually fix me up after a couple of sessions.

Or I could tap, tap, tap on my mobile and summon a therapist from London-headquartered but Lithuania-based ‘wellness’ startup Urban and only pay £49 for an hour. Actually, I’ll do neither as I’m a brave soldier (read ‘cheapskate’) and see how I go.

Founded in 2014 in a flat in Ealing (hi, neighbour!), Urban (then called Urban Massage – see Urban Massage de-stresses with $12m valuation) has just raised $10m in a Series B funding round led by Accelerated Digital Ventures. The raise includes $4.5m from a crowdfunding round, and prior backers Passion Capital and Felix Capital also joined in. The funds will be used to build out Urban’s R&D team in Vilnius and expand the scope of its ‘wellness’ services.

Home-based physio services are not a new idea (for example, there’s PhysioComesToYou, which does what it says on the tin). But it must be said that the Urban website looks sassier (I haven’t downloaded the app) and they aim to become the proverbial ‘one stop shop’ for ‘wellness’ services, which now include beauty treatments (too late for me).

The business model will likely look attractive to therapists working for a bricks-and-mortar therapy practices who may only get around 20% of the fee paid, whereas I would imagine they would only pay a similar level of commission if they get a gig from Urban and keep the 80%.  

Urban has significantly dropped its prices since the 2015 raise. Like most ‘on-demand’ services, success will really come down to marketing and of course getting the right price point.

Posted by Anthony Miller at '08:43' - Tagged: funding   startup  

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