The Gathering Spot Bounces Back, Securing $30M To Date With Investors Like Charles Barkley, Will Packer, Big Sean, And More
The Gathering Spot has secured strategic funding.
As AFROTECH™ previously reported, The Gathering Spot, co-founded by Ryan Wilson and TK Petersen, is a private membership club that has made its way to major cities, including Atlanta, Chicago, New York, Detroit, Charlotte, Washington, D.C., Los Angeles, and Houston.
The Gathering Spot, which prides itself on creating an inviting and collaborative atmosphere, recently rolled out The Retreat, a 60,000-square-foot space that includes a pool, private dining rooms, and cabanas, all while overlooking Atlanta’s skyline.
“I wanted our community to have access to the best spaces around,” Wilson said on “The Black Tech Green Money” podcast. “This is world class space that we we can go head-to-head with any favorite rooftop that you have around. It really is that sort of product. But the second thing is that I’ve always known that people connect or want to connect for different reasons.”
He added, “If there’s a meaningful community conversation that we need to to host, that’s going to be at The Gathering Spot. That’s the tradition of any Gathering Spot, to host meaningful discussions where we bring everybody together. But if you need a spot to bring your clients or to disconnect, to just sit by the pool and be for a second, that’s Retreat.”
The Gathering Spot appears to remain well-positioned despite some challenges that resulted from being acquired in 2022 by Greenwood.
As AFROTECH™ previously reported, the deal was valued at nearly $50 million and the partnership was forged to “bridge the racial wealth gap and build community for Black and minority people,” but those ties were severed after a year.
Lawsuits claimed Greenwood allegedly withheld payments and “engaged in intentional misconduct,” as previously reported by AFROTECH™.
However, in hindsight, Wilson says even if he had a chance to go back in time, he would not have pulled away from that deal.
“Where the question comes a lot of times is ‘Would we have gone through that acquisition knowing what we yeah know now?’ And again that’s not a question that I can really answer because it was the best decision for us to make at the time that we made it and here I am now coming out of that experience with the biggest project that we’ve ever had,” Wilson explained on the podcast.
Funding
Since launching in 2016, The Gathering Spot has gone from 500 to 12,000 members, according to its website.
It is now positioned to broaden its reach even further in light of new funding, bringing its total raise to $25 million in equity and $5 million in debt financing, according to a press release shared with AFROTECH™.
Investors reportedly include T.I., Big Sean, Charles Barkley, Cam Newton, Baron Davis, Tricky Stewart, and Will Packer.
Funding will support new locations and improving its programming.
“We are thrilled to receive continued support from such an extraordinary group of investors. This funding allows us to further expand our mission and create more opportunities for cultural connection and creativity in our communities,” said Wilson in a press release. “We’re committed to providing a space for people to connect, collaborate, and thrive. The impact has been incredible, and we’re just getting started.”
Packer also made a press statement:
“When I first walked into The Gathering Spot in 2016, I knew it was something special. This wasn’t just a place—it was a movement. Ryan and TK have created a platform that empowers culture and connects people in ways that matter. This is about building a legacy.”
