Bathhouse, the Brooklyn-born luxury bathhouse operator, has raised $35 million in a funding round led by Imaginary Ventures, the investment firm known for backing Glossier, Skims, Kosas, and Reformation. The raise positions Bathhouse as the best-capitalized player in the rapidly expanding “social sauna” category, ahead of competitors like Othership, which has raised roughly $20 million to date, and Remedy Place, which has reportedly raised about $5 million.
Founded in 2019 by real estate investor Travis Talmadge and hospitality operator Jason Goodman, Bathhouse operates two New York locations spanning roughly 35,000 square feet each, combining thermal pools, saunas, steam rooms, cold plunges, treatment spaces, and food-and-beverage offerings into what has become a nightlife-adjacent wellness experience. The company is now planning an aggressive national expansion, with new locations slated for Los Angeles, Chicago, Nashville, Philadelphia, Minneapolis, Stamford, and additional New York-area markets.
The centerpiece of the rollout is an 85,000-square-foot Los Angeles flagship at the former Amoeba Music site on Sunset Boulevard, which is expected to open in 2028 with a 250-person sauna, multiple thermal pools, and a large rooftop component. Bathhouse is aiming to operate 10 U.S. locations by 2028.
>> The funding round reflects growing investor appetite for businesses operating at the intersection of wellness, hospitality, and consumer branding. Imaginary Ventures’ investment suggests that venture firms traditionally associated with beauty and direct-to-consumer fashion are increasingly viewing experiential wellness as a scalable lifestyle category rather than a niche hospitality concept.
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