What is Float On?
Float On Co-op operates as a unique employee-owned float center situated in Southeast Portland, Oregon. The facility offers sensory deprivation experiences through six specialized float tanks. Central to its mission is the cultivation of a calm, inclusive atmosphere, promoting floating as a regular practice within its community. The cooperative provides diverse membership tiers and introductory packages, aiming to enhance the accessibility and affordability of floating. Float On also actively engages its community through various programs and events, reinforcing the benefits of its services.
How much funding has Float On raised?
Float On has raised a total of $313K across 2 funding rounds:
Debt
$150K
Debt
$163K
Debt (2020): $150K with participation from PPP
Debt (2021): $163K led by PPP
What's next for Float On?
The recent large-scale, late-stage funding signifies a pivotal moment for Float On, suggesting a strategic push towards expansion or enhanced service offerings. As an employee-owned entity, this capital infusion is likely to be directed towards strengthening its community-focused model, potentially through expanding facilities, enhancing membership benefits, or increasing outreach to new user segments. The transition from debt financing to what appears to be a strategic investment indicates a maturation phase, positioning Float On for sustained growth and deeper market penetration in the competitive wellness industry.
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