Enhance has raised $18.2 million in equity and venture debt financing to accelerate its expansion across the United States. The financing includes equity backing from Global Ventures and venture debt from Stride Ventures, supporting the fitness technology company’s next phase of international growth.
Founded in the UAE, Enhance has spent the past eight years building a technology and operating platform focused on personal training management for gyms, trainers and members.
The company’s platform currently supports approximately 15,000 trainers and more than 500,000 booked personal training sessions each month.
Enhance said its technology is now operating across more than 700 clubs in the United States, working with fitness brands including Crunch Fitness, In-Shape, UFC Gym and PureGym USA.
The company initially developed its operating expertise by managing personal training operations across markets including the UAE, Saudi Arabia, Bahrain and Qatar.
Enhance has since converted that experience into a software platform designed to help fitness clubs manage personal training operations at scale.
The company is positioning the U.S. as a major growth market as it expands its SaaS platform and relationships with gym operators.
Enhance Founder and CEO Tarek Mounir said the company’s strategy originated from the view that personal training is one of the fitness industry’s most profitable revenue streams but historically one of its least systematized.
The new capital will support Enhance’s U.S. expansion as it continues scaling its technology, operations and relationships with fitness club partners.
KEY QUOTE:
“Eight years ago we started with a simple observation: personal training is the most profitable revenue line in fitness, and the least systematised. Today our platform supports 15,000 trainers delivering 500,000+ booked sessions a month, and runs in 700+ clubs across the US with partners like Crunch Fitness, In-Shape, UFC Gym and PureGym USA. A UAE-born company, operating in the world’s largest gym market. The next chapter is the one we’re most excited about.”
Tarek Mounir, Founder and CEO of Enhance
