Freeletics, a Munich, Germany-based digital fitness company, secures a $45m Series A funding.
The round was 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 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 investment 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.”
Founded in 2013 and led by CEO Daniel Sobhani, Freeletics provides fitness and personal coaching apps, used by over 31 million users worldwide in over 160 countries. Freeletics is the brainchild of Joshua Cornelius, Mehmet Yilmaz, and Andrej Matijczak, who sought to develop an effective, software-based alternative to expensive workout equipment and gym memberships.
Freeletics Bodyweight, the company’s first app, launched in 2013 with a library of guided workouts that didn’t require a gym or equipment. (It now boasts over 1,000 five-to-thirty-minute workouts that can be filtered by duration, goals, and muscle group.)