Who really wants to work out? Who really wants to flop onto a stationary bike while an overly-caffeinated instructor screams at you and Britney Spears pumps over the speakers? I’d rather be home binging The Handmaid’s Tale and ordering Postmates.
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Technology allows us to connect with people all over the world, gain access to oceans of information, and get rid of many daily annoyances. However, it has arguably also made a lot of us expect transactional immediacy, which may have bled into our exercise habits. But happily, the good impact that tech has on us may outweigh its negatives, at least when it comes to exercise.
Entrepreneurs have capitalized on our need to add convenience, immediacy, and data into our physical fitness journeys. And investors have followed suit.
According to Crunchbase, as of the time of writing, the 10 most funded U.S. startups in fitness have raised more than $1.6 billion. The first startup on the list, spin bike and treadmill developer, Peloton, raised a $550 million Series F in early August 2018, which brought its total known funding up to more than $994 million and its valuation to $4 billion, post-money.
And it turns out cycling is popular among a variety of investors. Zwift is a London-founded and California-based company which focuses on building an interactive, team-like experience among at-home cyclers. The company just raised a $120 million round led by Highland Europe, bringing its total known raised to $164.5 million, according to Crunchbase. Yet another spinning-focused startup, Flywheel Sports, which was founded by the co-founder of SoulCycle Ruth Zukerman, has raised $120.9 million of its own.
Meanwhile, other companies are tackling the gym. ClassPass, the company that allows its users to attend classes at various studios in their cities, follows behind Peloton at $239 million in known venture funding. Most recently, the Tiger Global Management, GV, and Thrive Capital-backed company scored an $85 million Series D led by TCV in July 2018.
While those well-funded companies have attracted a lot of attention for their ambitious business models and massive valuations, other startups on the list, like personal training app Aaptiv, have targeted smartphone-based training. Still others, like Whoop, aim to help elite athletes improve their performance metrics.
Take a look!
|Organization Name||Description||Total Funding (M USD)|
|Peloton||Peloton uses technology and design to connect the world through fitness, empowering people to be the best version of themselves.||$994.4M|
|ClassPass||ClassPass is a subscription marketplace that lets users find and book fitness classes.||$239M|
|Zwift||Zwift develops a massive, multiplayer video game technology that caters to the cycling, running and fitness communities.||$164.5M|
|Flywheel Sports||It began with a simple idea. Make indoor cycling epic. An immersive experience for riders who want something more.||$120.9M|
|Aaptiv||Aaptiv is a provider of premium digital health and wellness content.||$52.1M|
|Athos||The Athos mission is to help athletes train more effectively and reach their performance goals faster.||$50.7M|
|WHOOP||Whoop is a performance optimization system for elite athletes and teams.||$49.8M|
|Interactive Fitness||Interactive Fitness offers indoor workout equipment with virtual reality programs, creating the similar effects of an outdoor workout.||$41.9M|
|Strava||Strava is an online network that connects the global community of athletes.||$41.85M|
|MIRROR||Mirror is a connected fitness system that streams live and on-demand classes to users in home via a sleek responsive display.||$40.8M|
Illustration Credit: Li Anne Dias