LOS ANGELES--(BUSINESS WIRE)--Freeletics, 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.”
For more information on Freeletics, please visit www.freeletics.com. The Freeletics Training Coach app can be downloaded for free in the App Store and Google Play Store.
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
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