London-based Urban has a mission; to empower city-dwellers to prioritise their wellbeing. The wellness services app recently raised $10m in its Series B funding round.
This latest funding round was led by patient venture investor, Accelerated Digital Ventures (ADV). The $10m will enable Urban to accelerate its growth, building towards the company’s goal of becoming the one-stop shop for on-demand wellness services. Existing investors also participated, including Passion Capital and Felix Capital. With the company nearing profitability, the startup is hoping this latest investment is help fuel their development and fast-track their success.
Following the investment, Urban is in the process of recruiting a team of 30 engineers in Lithuania, to support the company’s expansion.
“Our new Vilnius office will be instrumental in helping to evolve our service,” said Giles Williams, co-founder and CTO of Urban. “The Lithuania team will work on all aspects of our marketplace platform, including its award-winning client apps, practitioner business software, corporate offering and data science projects.”
As of November 2018, the company expanded its on-demand services beyond massage to include osteopathy, facial, and nail services.
With 80% of the new service revenue coming from existing customers, it’s obvious that these services have been widely embraced. Urban’s goal is to become the city-dwellers’ go-to destination for wellness, and with more services in the pipeline they’re getting closer and closer to achieving that goal.
Urban founder Jack Tang said: “We’re excited to partner with ADV in the next stage of our growth and ambition. ADV’s long-term investment philosophy aligns with our plans to grow sustainably and organically, improving our already robust unit economics.
“Our goal is to become the one-stop shop for on-demand wellness services, and with the services we offer today, we’re just getting started.”