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Glofox has raised $10m in funding and launched a new platform that allows gyms to livestream and publish on-demand content for members who are now working out from home.
Irish gym management software company Glofox has announced that it raised $10m in fresh funding. The company provides software solutions for fitness studios and gyms, including management, sales and marketing capabilities, as well as payment processing.
As gyms across the world have been shut to slow the spread of the coronavirus, Glofox has also launched a new platform that enables gyms and fitness studios to deliver livestreaming and premium on-demand content for their customers who are staying at home during the pandemic.
The start-up said that the new platform will help enable fitness businesses to keep operating remotely and fulfil their customers’ fitness needs during this time. It added that this could help the fitness industry thrive “with a stronger digital element in the future”.
Glofox’s $10m funding, which adds to its Series A, includes backing from a new, undisclosed investor.
The Dublin-headquartered business has raised a total of $23m to date. The company received $10m last May in a round led by Octopus Ventures, and secured €2m in 2017 from SaaS investors including Notion Capital, Partech Ventures, Tribal VC and Enterprise Ireland.
Glofox, which was founded in 2014, now has offices in Dublin, LA and Sydney. Earlier this year, it announced plans to open a new R&D hub in Belfast.
‘Covid-19 has transformed the fitness industry’
Speaking about the new platform, Glofox CEO Conor O’Loughlin said: “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 adapt 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.”
O’Loughlin added that the experience has helped fitness entrepreneurs to “learn new skills” and he’s hopeful that many businesses will continue to offer complementary online and offline experiences to attract more members in future.
In Ireland, some of the gyms and fitness studios using Glofox’s technology include F45, Tough Mudder Bootcamp, Snap Fitness, Elite Bodyworks and Greco Fitness.
Marieke Christmann of Octopus Ventures said that Glofox launching a new platform is an example what early-stage tech companies can do to mitigate the economic and social impact of Covid-19.
“In a time when we restricted to our homes, it’s more important than ever to support consumers so they can exercise and stay healthy,” she said. “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.”
