View details of this raise on Seedstage

Roseville, CA

Scaling premium cold plunge and sauna offerings for residential and commercial wellness markets.

• Explosive growth: $82M in 2024 revenue with over $200M in cumulative sales in just four years.
• Commercial momentum: $13M B2B revenue in 2024 with 111% YoY growth.
• Product expansion: $9.1M sauna revenue in first full year; new models and app features in development.
• High-profile clients: Trusted by UFC, Equinox, Four Seasons, and NY Yankees.
• Profitable and bootstrapped: Built without outside equity and positioned for sustainable 8-figure profitability.

Plunge is raising funds to scale its profitable wellness business, focused on high-end cold plunge and sauna products that promote contrast therapy for recovery, resilience, and performance. The company designs, manufactures, and sells premium cold plunges and saunas supported by an integrated mobile app and growing accessories ecosystem. With more than $200 million in cumulative revenue, strong B2B and D2C traction, and a loyal customer base of over 30,000, Plunge aims to accelerate its commercial channel, launch new product lines, and expand internationally. Proceeds from this round will support operations, continued product innovation, and strategic growth into emerging markets.

Founded during the COVID-19 pandemic by wellness entrepreneurs Michael Garrett and Ryan Duey, Plunge has grown from a garage-built prototype to a leader in the $8B+ U.S. contrast therapy market. Backed by brand partnerships with CrossFit, Liquid Death, and Equinox, and used by the NY Yankees, Four Seasons, and the US Army, Plunge has quickly become the go-to name in at-home and commercial cold immersion. In 2024 alone, the company generated $82 million in revenue and saw 111% growth in its B2B segment. With products assembled in California and built for style and performance, Plunge combines elegant design, robust software, and exceptional health benefits. Its path forward includes new wellness tech integrations, recurring revenue through accessories and app features, and deeper market penetration through strategic partnerships.

Company Info

Plunge designs and sells high-end cold plunges and saunas for wellness-focused consumers and businesses.

Plunge is a wellness brand specializing in premium cold plunge tubs and high-heat saunas designed for both residential and commercial markets. With a focus on contrast therapy, their products combine elegant design, seamless app integration, and superior durability to help users build daily resilience and improve overall well-being. Cold plunges are built in California and feature advanced sanitation, temperature control, and commercial-grade certification, while their saunas include premium cedar construction and flexible configurations for individual or group use.

Since launching in 2020, Plunge has generated over $200 million in cumulative revenue and serves more than 30,000 customers, including elite clients like Equinox, the New York Yankees, and Four Seasons. With strong traction in both direct-to-consumer and B2B channels, the company reported $82 million in 2024 revenue, including $13 million in commercial sales and $9.1 million in sauna revenue. Their mobile app supports customer retention and upselling through smart features, and a commercial platform, PlungeConnect, enables centralized monitoring for enterprise clients. Positioned within a fast-growing $8 billion U.S. market, Plunge continues to expand with new products, brand partnerships, and international growth opportunities.