- Gym management software company Glofox announced it raised $10 million in funding
Gym management software company Glofox announced it raised $10 million in funding. Including this round of funding, the company has raised a total of $23 million to date. The additional investment from a new undisclosed investor brings the total Series A funding to $20 million in a round led by Octopus Ventures. And Notion Capital, Partech, Silicon Valley Bank, and Tribal VC also participated.
With Glofox, gyms and fitness studios can deliver live streaming and premium on-demand content. The new platform and funding will enable fitness businesses to keep operating remotely and fulfill its customer fitness needs online during COVID-19 and thrive in a new fitness industry with a stronger digital element in the future.
Gyms and fitness studio owners including Tough Mudder Bootcamp, SNAP Fitness, F45 Training, Elite Bodyworks, Fit 7/8, 9Round, Greco Fitness, and Switch Playground have been bringing their workouts online, retaining members, building communities, and managing all aspects of their businesses with Glofox.
Key Quotes:
“COVID-19 has transformed the fitness industry. Many gyms have made the leap to delivering virtual experiences overnight. Consumers have learned how to consume fitness content digitally and are beginning to feel comfortable with that. Businesses are adapting fast, and those that adopt new tools will survive now and be able to add new revenue streams coming out of this pandemic.”
“We are enabling gyms and fitness studios in 48 countries to transform their businesses by adding live workout streaming and on-demand content. Working remotely has allowed fitness entrepreneurs to learn new skills, enabling them to build better businesses in the future. After the crisis, local businesses that project a digital presence and can deliver complementary online and offline experiences will attract and retain more members.”
-Glofox CEO Conor O’Loughlin
“Glofox’s continued innovation is providing pioneering ways for gyms to adopt the online models they need to both thrive as a business in these challenging times, and help their customers stay fit. This highlights the crucial role played by early stage tech companies in mitigating the economic and social impact of COVID-19. In a time when we are restricted to our homes, it’s more important than ever to support consumers so they can exercise and stay healthy. Glofox is at the centre of this trend in the fitness industry; we are excited to see the continued success of this talented team and to support them on their growth journey.”
-Marieke Christmann of Octopus Ventures
