Powers Gymnastics Secures $16.8 Million Series A Led By Relevance Ventures to Scale its Multi-Vertical Approach

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Mar 21, 2023, 08:00 ET

Funds Will be Used For Acquisition and Growth Initiatives to Enable Powers Gymnastics to Provide More Resources and Locations Across the United States

NASHVILLE, Tenn., March 21, 2023 /PRNewswire/ -- Powers Gymnastics ("Powers"), the youth sports, facilities, equipment and gymnastics program provider, announced today $16.8 million in Series A funding led by Nashville-based Relevance Ventures.

With this funding, Powers plans to continue its mission of providing accessible, state-of-the-art gymnastics facilities, which includes the manufacturing of Ninja Warrior obstacles and providing comprehensive insurance solutions for gym owners. Powers is an early adaptor for combining Ninja Warrior obstacle courses with gymnastics, in addition to gamifying and mindfully aligning family, fun and competition for athletes and coaches, inside and outside of the training facility.

"Many gyms are built for elite athletes, but we are trying to be more attentive to all athletes who want to maximize their potential, regardless of whether that is at the elite level or recreational level," explained Jill Powers, Founder of Powers Gymnastics. "Relevance Ventures is the perfect partner to help us scale our offering and incorporate more gyms, coaches and athletes who share our wholistic approach and values. This funding will help us improve our inclusive approach in support of students and coaches, while instilling safety and fun alongside competition in more gymnastics clubs nationwide."

Gymnastics is one of the most successful, foundational sports for balance, flexibility, motion and pliability. Powers ensures that the sport is more scalable, accessible, enjoyable, and developmentally appropriate for athletes of varied ages and abilities. Powers is focused on enhancing safety and best practices, both on and off the mats. This includes assessing full-time coaches for their ability to mentor (e.g. their personality and values) to ensure they align with the gym's goal of building trust in gymnastics.

"We are eager to partner with Powers' wholistic-minded executive team who are reshaping and modernizing the gymnastics experience and underlying business, whether through a recurring-revenue-based cash-flow model with real assets, or viewing gymnastics as the centerpiece of a more wholistic athlete experience," said Cameron Newton, General Partner at Relevance Ventures. "Powers is well-positioned for incredible growth as it empowers the role of gymnastics in society, and well-aligned with Relevance's harmony-focused investing strategy. We believe the company has the potential to leave a lasting, positive and impactful legacy in the industry."

Powers' solutions support athletes not just physically but mentally and emotionally. With the funding and counsel of Relevance Ventures, the two hope to continue elevating the perception of gymnastics, reinforcing the exercise, morals and values of the sport.

About Powers Gymnastics
Powers Gymnastics is a youth sports, facilities, equipment and gymnastics program provider creating a participant-centric experience for all levels of gymnasts and coaches.

About Relevance Ventures
Relevance Ventures is the only Native American privately owned and operated venture capital firm. Relevance Ventures provides strategic venture assistance and guidance to entrepreneurs working to foster harmony while delivering a positive communal impact. With over $115 million under management, the firm focuses on opportunities within the health & wellness and fintech/enterprise software industries. The firm specializes in identifying proven management teams with a solid business plan to bring harmony to an addressable market of at least $1 billion. Relevance Ventures was founded by Cameron and Dean Newton and is headquartered in Nashville, Tennessee.

SOURCE Relevance Ventures