The Plunge
Home and commercial cold plunge and sauna systems.
| Date | Investors | Amount | Round |
|---|---|---|---|
N/A | Series A | ||
| Total Funding | 000k | ||
The Plunge designs and manufactures cold plunge tubs and saunas for both residential and commercial use. The company was founded in 2020 by Michael Garrett and Ryan Duey. Garrett, whose float spa business was shut down by the COVID-19 pandemic, began building cold plunge prototypes in his garage with his father's help. He identified a gap in the market for affordable and aesthetically pleasing home units, as existing options were expensive and rugged.
Previously, both Garrett and Duey ran their own float spa therapy centers and connected through the industry. After many iterations, Garrett developed a viable prototype and convinced Duey to join him. They launched with a limited sale of 20 units to friends and business partners before scaling up. The company's business model is direct-to-consumer (DTC), selling its products through its website. They also cater to business clients such as gyms, spas, recovery centers, and professional sports teams. Revenue is generated from the sale of these high-ticket items, as well as accessories and supplies. A key part of their growth strategy involved influencer marketing, gifting plunges to well-known figures in the health and wellness space like Andrew Huberman and Tony Hawk.
The Plunge's products are designed for ease of use and maintenance. The tubs feature powerful cooling, filtration, and sanitation systems, capable of cooling water down to 37-39°F without ice. They are made for both indoor and outdoor use and can be controlled via a mobile app. In addition to cold plunge tubs, the company has expanded its product line to include high-heat saunas, also assembled in the US. The company appeared on Shark Tank, which significantly boosted its national visibility. Having achieved over $200 million in revenue to date, Plunge has recently opened a community funding round to allow customers and the public to invest in the company.
Keywords: cold water immersion, contrast therapy, home wellness, recovery equipment, cold plunge tubs, residential saunas, commercial wellness solutions, direct-to-consumer, health and wellness, hydrotherapy, athletic recovery, Michael Garrett, Ryan Duey, Shark Tank, cryotherapy, ice bath, home spa, fitness recovery, wellness technology, influencer marketing