Securing a $2.4 million investment from BDC Capital was the game-changer WellnessLiving needed to scale their business. Initially a small team operating from a home office, the company grew rapidly into a major player in the Health & Wellness industry. Within four years, WellnessLiving expanded to a team of approximately 200 and a client base of roughly 5,000 businesses, including major clients like Curves. Despite having a functional software product, they lacked the resources to scale, prompting them to seek guidance from the RIC Centre.
In 2015, WellnessLiving was searching for capital to elevate their business. The RIC Centre connected them with various government bodies and programs for potential grants and funding. As RIC Centre Client Entrepreneurs, founders Sasha and Len received quarterly check-ins and guidance from an advisor. This support helped them refine their pitch deck and meet investors. By 2016, WellnessLiving launched their product and, with the RIC Centre’s help, secured the pivotal $2.4 million funding from BDC Growth & Transition Capital. This investment fueled their focus on research, development, and the integration of machine learning and AI.
Since its inception, WellnessLiving has experienced exponential growth. Their business management software now serves thousands of businesses across various verticals, including yoga studios, fitness centers, spas, and salons. The platform enables businesses to manage clients, bookings, classes, appointments, payments, and more. The RIC Centre advisor who initially guided them is now their acting CFO. WellnessLiving continues to grow, boasting over 9.1 million users and maintaining a 100% year-over-year growth rate. Their vision remains focused on helping business owners grow and manage their operations with ease.