Freeletics Closes $45 Million Series A Funding
LOS ANGELES--(BUSINESS WIRE)--Dec 4, 2018--, the world’s fastest growing digital fitness company, closed a $45 million Series A funding round led by FitLab, Causeway Media Partners and JAZZ Venture Partners, with participation from Courtside Ventures, Elysian Park Ventures, ward.ventures, as well as world-renowned life and business strategist Tony Robbins. The investor group is affiliated with several professional sports franchises, including the San Francisco 49ers, Boston Celtics, Cleveland Cavaliers and Los Angeles Dodgers. The company, known for promoting and increasing physical fitness as well as mental strength, willpower and self-confidence, has generated overwhelming interest since its launch. The backing from this esteemed group of industry leaders is a testament to the future of Freeletics ′ global movement.
“The funding outcome reflects tremendous global confidence in a product we have always believed represents the cutting edge of self-development for today’s tech-savvy and health conscious consumers,” said Freeletics CEO, Daniel Sobhani. “Our investor portfolio has a deeply rooted understanding of the fitness industry, as well as high-growth tech companies. This new round will enable us to once again intensify our strategy for global growth. This round of funding will also support our ongoing commitment to continue delivering a best-in-class digital fitness proposition that’s both effective and easy to use in any place and at any time.”
Freeletics was founded in 2013 with the mission to challenge and inspire people to become the greatest version of themselves. Since its founding, the bootstrapped company has grown to create some of Europe’s #1 fitness and personal coaching apps, and commands 31 million users worldwide in over 160 countries. The company’s flagship app, ‘Freeletics Fitness Coach’ is the #1 fitness app in Europe and offers the most advanced AI technology in the industry. The training app puts a personal trainer in your pocket, enabling users to train anytime, anywhere with a full program of personally tailored workouts. The program’s unique AI algorithm allows the app to learn from workout feedback, and then develop ongoing smart Freeletics Training Journeys uniquely designed for each user.
With 120% record growth in core markets, including the US, over the last six months, the company is poised for exponential growth. This funding, attracting world-class industry veteran investors, is set to bring valuable experience and resources to advance the company in this next chapter as they are positioned to become the world’s leading app-based fitness program.
“ Freeletics is a phenomenal success story having achieved so much in such a short period of time,” said Mike Melby, Managing Partner at FitLab. “We look forward to this partnership and are thrilled to be a part of the continued growth and progress of Freeletics in the US and internationally.”
“ Freeletics is a true industry leader and the company’s success story is no accident,” said Mark Wan, Managing Partner at Causeway Media Partners. “The oversubscription of this investment round underlines the brand’s continued growth and further commitment to world-class operational execution.”
About Freeletics Freeletics has been built around a single vision since day one: to challenge and inspire people to become the greatest version of themselves. Freeletics is the creator of some of Europe’s #1 fitness apps, promoting and increasing physical fitness as well as mental strength, willpower and self-confidence – all vital tools for shaping a life in accordance with one’s desires and goals. Founded in June 2013, the company has already created one of the most successful fitness movements in the world, with 31 million users in over 160 countries.
About FitLab FitLab is a venture studio and fund focused on human performance. FitLab partners with iconic athletes and proven entrepreneurs across investment stages, from incubation to seed to growth, with an active operational approach. Via an unmatched global network in sports and fitness, FitLab is able to accelerate the validation and distribution of category-defining companies. Visit http://fitlab.vc for more information.
About Causeway Media Partners Founded in 2013, Causeway Media Partners is an investment fund focused on sports media, sports technology, and related companies. Targeting growth equity and venture capital stage organizations, Causeway is committed to forging long-term partnerships and supporting management teams in their growth years. Causeway leverages its teams’ decades of success to help structure, execute, and monetize its investments. The Causeway team offers an uncommonly diverse perspective on business as well as access to a unique network of connections. Causeway is led by: Wyc Grousbeck, former general partner at Highland Capital Partners and lead owner of the Boston Celtics; Mark Wan, co-founder of Three Arch Partners and part owner in both the Boston Celtics and the San Francisco 49ers; and Bob Higgins, co-founder of Highland Capital Partners. The limited partners of Causeway include professional team owners from the NFL, NBA, MLB, and other leagues. In addition, Causeway’s limited partners include media executives, financial institutions, and general partners from a dozen private equity firms. Causeway has offices in Cambridge, MA and Palo Alto, CA. www.causewaymp.com
About JAZZ Venture Partners JAZZ Venture Partners invests in companies that extend the boundaries of human performance — improving how we live, learn, work, play, and experience the world. JAZZ seeks breakthroughs at the intersection of cutting-edge neuroscience and digital technology that are increasingly influencing the human experience, such as augmented reality, immersive gaming, artificial intelligence, and closed-loop human-computer systems. JAZZ portfolio companies are unlocking human potential in broad markets, including health, mind-body wellness, accelerated learning and training, sports, entertainment, and the enterprise. www.jazzvp.com
About Courtside Ventures Courtside Ventures is an early-stage venture capital fund, investing across technology and media, with a particular strategic focus on sports and eSports. Built by a team of notable entrepreneurs and investors, they provide strategic support by leveraging industry relationships and domain expertise to help companies gain a competitive advantage. Backed by investor Dan Gilbert, founder and chairman of Rock Ventures, Quicken Loans and majority owner of the NBA’s Cleveland Cavaliers; and WPP, the world’s leading advertising firm; Courtside Ventures invests in companies across the US and internationally. www.courtsidevc.com
About Elysian Park Ventures Elysian Park Ventures is a private investment firm created by the ownership group of the Los Angeles Dodgers to invest and partner with exceptional entrepreneurs operating at the intersection of sports, technology, and entertainment. Based in Los Angeles and New York, Elysian Park invests across stages from seed to growth, and also provides entrepreneurs with strategic, operational, and management resources through the Global Sports Venture Studio. www.elysianpark.ventures
About ward.ventures ward.ventures is a private investment firm that invests in venture capital and private equity. ward.ventures is based in Dallas, Texas. For more information, visit: www.ward.ventures
About Tony Robbins Tony Robbins is the USA’s #1 life and business strategist. He has been honoured by Accenture as one of the “Top 50 Business Intellectuals in the World”; by Harvard Business Press as one of the “Top 200 Business Gurus”; and by American Express as one of the “Top Six Business Leaders in the World” to coach its entrepreneurial clients. He has also been named in the top 50 of Worth Magazine’s 100 most powerful people in global finance for two consecutive years.
His work has touched the lives of countless people and organizations, from billionaire business leaders to top entertainers — from Aerosmith to Green Day, to Usher and Pitbull. As well as athletes Serena Williams, Andre Agassi, and the Golden State Warriors. For more information, visit: www.tonyrobbins.com
View source version on businesswire.com:https://www.businesswire.com/news/home/20181204005389/en/
CONTACT: Rebecca Campbell
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: TECHNOLOGY CONSUMER ELECTRONICS SOFTWARE HEALTH FITNESS & NUTRITION MOBILE/WIRELESS
Copyright Business Wire 2018.
PUB: 12/04/2018 08:01 AM/DISC: 12/04/2018 08:01 AM