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14 May 2019
Glofox raises US$10m to fund US expansion
BY
Tom Walker
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The software has been designed to assist independent, small boutique fitness studios as well as larger, global franchise operations
Fitness software startup Glofox has secured a US$10m worth of Series A funding. Led by Octopus Ventures – and supported by Partech, Notion Capital and Tribal VC – the funding round will be used to expand Glofox's US presence.
Glofox will continue to build out its Los Angeles HQ, as well as allocate funds to product development. The company will also use the funds to increase marketing efforts and fill key leadership positions.
The software has been designed to assist both independent, small boutique fitness studios and larger, global franchise operations.
It has been designed to provide operators with critical insights into what members want and need, while streamlining administrative processes by allowing them to manage booking, payments, new leads and memberships.
The software is currently used by studios in 43 countries, with around 10m classes booked through the platform each year. Clients include F45 studios and Elite Bodyworks.
“The fundraising is a really exciting step for the company,” said Glofox founder and CEO Conor O’Loughlin.
“We’ve spent years optimizing Glofox for 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.”
Marieke Christmann of Octopus Ventures added: “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 studios have to battle with a number of not-for-purpose and isolated applications. With Glofox, boutique studios can manage key business functions and provide a premium customer experience seamlessly.
“While traditional membership gyms are growing at 5 per cent, the boutique market is up 25 per cent, which gives us confidence that the team can transform this startup into a large software player."
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