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Exclusive: Soaak raising $28M Series A for sound frequency therapy

Illustration of a hundred dollar bill as an equalizer. 

Illustration: Aïda Amer/Axios

Soaak, a company using sound frequency therapy for conditions like anxiety and depression, aims to close a $28 million Series A in the coming months, co-founder Henry Penix tells Axios exclusively.

Why it matters: While studies suggest sound therapy is clinically beneficial for reducing symptoms of issues like anxiety and fibromyalgia, the research is still limited.

  • The company has $5 million of bank debt financing earmarked for the Series A, which is likely to close in June, per Penix.

How it works: Tulsa, Oklahoma-based Soaak provides in-person and virtual services, offering sound frequency therapy, brain mapping, neurofeedback and other wellness offerings.

  • Its app reads biometrics from wearables such as Fitbit, Apple Watch and Oura ring to offer additional insights.
  • Soaak aims to help patients with anxiety, depression, insomnia, ADHD and brain fog.

Catch up quick: Founded in 2020, Soaak has completed three small acquisitions to date: Tulsa Natural Health Clinic, Thermography Tulsa and RenuYou Clinics.

What's next: Series A funds are designed to last 24 months, at which point the company will "assess a larger acquisition we have been considering," Penix says.

Zoom in: Soaak has contracts with clients like the U.S. Air Force and expects to secure profitability in the next two years, says Penix, who declined to disclose revenue.

  • Its offering is also available directly to consumers for $29.99 a month or $299.99 a year. Users can also pay with FSA and HSA funds.
  • A majority Native American-owned company, Soaak has offices and team members located within the boundaries of the Muscogee (Creek) Nation and Cherokee Nation.
  • As of 2022, the company was testing its services with members and employees of the Cherokee Nation.

Flashback: Penix started the company with $2 million of his own money in 2020.

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