London-based wellness services app Urban has raised $10m to double down on its mission of empowering city-dwellers to prioritise their wellbeing.
The round was led by patient venture investor, Accelerated Digital Ventures (ADV), and it will enable Urban to accelerate towards its goal of becoming a one-stop shop for on-demand wellness services. Existing investors Passion Capital and Felix Capital also participated. This latest round of investment comes at a time when the company is nearing profitability.
To support the expansion, Urban is in the process of recruiting a team of 30 engineers in Lithuania.
“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.”
In November 2018, the London-headquartered company expanded its on-demand services beyond massage to include osteopathy, facial, and nail services.
These services have been widely embraced, with 80% of new service revenue driven by existing customers. And with more services in the pipeline, Urban’s goal is to be the go-to destination for the wellness needs of anyone who lives in a city.
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.”