Men’s Activewear Brand Ten Thousand Raises $21M, Partners With Life Time
In demand and ready for what’s next, the training gear apparel company has been profitable since April 2020
Menswear-focused training apparel company Ten Thousand has raised $21.5 million in a Series A funding round and also secured a sponsorship deal with Life Time.
The funding, led by Provenance, included participation from Alfa and Fernbrook and will be used for growing the Ten Thousand team, investing in inventory and exploring retail partnerships and new marketing channels.
Perhaps most notable is that the funding will fuel Ten Thousand’s production to keep up with its high demand, which has been a challenge for the successful brand, which impressively achieved profitability during the pandemic in April 2020.
The men’s apparel company was founded by former professional soccer player and venture capitalist Keith Nowak, who was fed up with cheaply made sportswear. Nowak completed his mission of bringing quality performance apparel to the market with Ten Thousand, selling shorts, shirts, pants, mid layers and outerwear, all backed by a lifetime guarantee.
William McClelland, co–founder and general partner at Elizabeth Street Ventures, an earlier seed investor in Ten Thousand, took to LinkedIn to celebrate the funding round.
“Elizabeth Street Ventures couldn’t be more thrilled to be partners in their endeavor to build the next great performance athletic wear brand, with a $21.5M Series A round led by our friends at Provenance – Anthony Choe, Anton Romash, Mary Claire Bass – and official partnership with Life Time Fitness,” McClelland posted.
McClelland referenced the authenticity he says Ten Thousand encapsulates, a quality he finds is “sorely lacking” from other activewear startups.
Partnership with Life Time
Ten Thousand also signed on for a three-year sponsorship deal as the exclusive men’s training brand of Life Time’s Dynamic Personal Training team and classes such as Studio, GTX, Alpha and Ultra Fit.
On an April earnings call with investors, the high-end fitness operator had identified its successful dynamic personal training as a significant focus as it looks ahead.
Ten Thousand will also sponsor Life Time events and launch exclusive products for the luxury lifestyle and fitness company.
“Both Life Time and Ten Thousand are premium brands with an aligned mission,” said Kelly Warner, vice president of events and partnership marketing at Life Time. “By joining forces, we’ll provide our coaches with the best products empowering them to provide unparalleled experiences for our valued members and athletes. We are excited to raise the bar together.”
