Powers Gymnastics inks $16.8m Series A

• The funding will be used for acquisition and growth initiatives
• Relevance Ventures is a Native American privately owned and operated venture capital firm
• Relevance Ventures focuses on the health & wellness and fintech/enterprise software industries

Powers Gymnastics, a Nashville-based youth sports, facilities, equpment and gymnastics program provider, has secured $16.8 million in Series A funding.

Relevance Ventures, a Native American privately owned and operated venture capital firm, led the round.

The funding will be used for acquisition and growth initiatives.

“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, in a statement. “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.”

Headquartered in Nashville, Relevance Ventures focuses on the health & wellness and fintech/enterprise software industries. Currently, it has over $115 million under management. Relevance Ventures was founded by Cameron and Dean Newton.