Fitness software start-up raises $10m
Fitness software start-up Glofox has raised $10 million in Series A funding.
The Dublin-based management platform, which serves boutique fitness studio owners and their members, will use the investment to continue its expansion efforts in the US, continuing to build out its Los Angeles HQ, as well as product development.
The company will also use the funds to increase marketing efforts and fill key leadership positions.
The funding round was led by Octopus Ventures, with additional investment from Partech, Notion Capital and Tribal VC.
“The fundraise is a really exciting step for the company,” said Glofox founder and CEO Conor O’Loughlin.
“We’ve spent years optimising Glofoxfor boutique gym owners, and we’re planning to use the funding to ensure Glofox can scale with our partners as they grow their business, while continually offering the features they need to maintain authentic relationships with customers.”
Glofox enables boutique fitness studio owners to create and maintain authentic relationships with their members at every phase of the life cycle and at scale, whether they own one studio or 1,000.
The software’s intuitive interface and complete package of features benefits a rapidly increasing roster of independent studios and large fitness franchises across 43 countries, with 10 million classes booked through the platform each year - and growing.
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With Glofox, gym owners are able to more easily schedule classes, manage memberships and leads, and run their business.
Marieke Christmann of Octopus Ventures said: “Glofox enables fitness entrepreneurs to run their businesses successfully and efficiently so they can focus on their passion: to help their customers get fit and stay healthy.
“At the moment boutique gyms have to battle with a number of not-for-purpose and isolated applications; with Glofox, boutique gyms can manage key business functions and provide a premium customer experience seamlessly.
“While traditional membership gyms are growing at 5%, the boutique market is up 25%, which gives us confidence that the team can transform this startup into a large software player.
“We are excited to welcome Glofoxto the Octopus portfolio and be part of this brilliant team’s journey.”