On July 6, 2023, NEW YORK Ten Thousand, a men’s sportswear company based in New York, announced a USD 21.5 million Series A raise as well as a relationship with Life Time, one of the most athletic country clubs in North America and an omni-channel healthy lifestyle brand. Ten Thousand’s cult following, distinctive positioning, and rapid growth on the way to becoming the next game-changing brand in the technical performance apparel market are highlighted by the raise and partnership. Provenance took the lead on the investment, and Fernbrook and Alfa also contributed. This syndicate joins other seed investors like Elizabeth St Ventures, Blue Scorpion, and Warby Parker co-founder Dave Gilboa.
According to Keith Nowak, founder and CEO of Ten Thousand, “As lifelong athletes who frequently struggled to find adequate training gear, we started Ten Thousand to build what we were looking for in the market — a streamlined assortment of no-nonsense, premium gear that could take us through any and every training session.” Ten Thousand has established itself as the go-to performance brand for severe athletes by only utilising the best materials, paying attention to every detail, and collaborating with top hybrid athletes to design, develop, and test every product.
The end product is long-lasting, purpose-built equipment. Our company has consistently experienced tremendous growth, and we also have one of the most significant percentages of repeat business in the sector. By expanding our workforce, investing in more inventory, investigating retail, forging more extensive collaborations, and utilising new marketing platforms, we can kick the business into high gear with the help of this additional investment and our partnership with Life Time.
“There’s an authenticity and seriousness to Ten Thousand that is sorely lacking from so many of the other activewear start-ups,” says Anton Romash, Ten Thousand Board Director and principal at Provenance, a Los Angeles-based growth-oriented investment firm that uses data-driven insights to promote growth and profitability. They’ve developed themselves as a genuinely best-in-class brand in a concise amount of time, and they’re in a prime position to seize the enormous market opportunity and become the next great American sportswear brand. We’re thrilled to support that progress in any way we can.
Says Nowak as seen by our return customer statistics, once a customer gives Ten Thousand a try, they continue using it. And now that we have this cash, we’ll be able to expand our channels and continue our digital marketing in order to reach even more new clients. The investment will also enable us to better meet client demand, which has hitherto been one of our major obstacles. We recognised Provenance as the perfect partner as soon as we decided to raise our Series A. As a result of the many years we spent establishing relationships with their team, we were aware of their singular ability to combine data-driven decision making with distinctive brand, product, and operational experience.
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