Men’s activewear brand Ten Thousand has announced the closure of a 21.5 million dollar Series A raise, led by Provenances with participation from Fernbrook and Alfa.
In a release, the New York-based brand’s founder and CEO, Keith Nowak, said that the funding would be used to “shift the business into high gear by growing our team, investing in more inventory, exploring retail, larger partnerships and new marketing channels”.
In addition to Nowak’s comments, Ten Thousand board director and principal at Provenance, Anton Romash, said: “As our repeat rate shows, once a customer tries Ten Thousand, they stick with Ten Thousand.
“And now with this funding we’ll be able to reach even more new customers through both continued digital marketing as well as further channel expansion.
“The funding will also help us better keep up with customer demand – which has been one of our biggest challenges to date.”
Ten Thousand strikes partnership deal with Life Time
The raise comes alongside the establishment of a new partnership with North America’s Life Time Athletic Country Clubs.
The three-year agreement will see Ten Thousand become the exclusive men’s training apparel partner of the organisation’s Dynamic Personal Training (DPT) team and its Studio, GTX, Alpha and Ultra Fit classes.
As part of the deal, Ten Thousand will sponsor select Life Time events, as well as offer exclusive products and in-club activations.