Businesses and startups are always looking for investors who can float in considerable resources, with the hopes of creating the next profitable company.
Freeletics is known for promoting physical fitness as well as mental strength and self-confidence.
The funding round was led by FitLab, Causeway Media Partners and JAZZ Venture Partners. Courtside Ventures, Elysian Park Ventures, ward.ventures also participated in the effort.
Freeletics CEO, Daniel Sobhani, stated,
“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.”
He further added,
“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.”
The company currently boasts of having more than 31 million users in over 160 countries, also being Europe’s top fitness and personal coaching app. Freeletics reported having encountered 120 percent record growth in core markets, including the US, over the past few months.
Mike Melby, the Managing Partner at FitLab, also voiced his words:
“Freeletics is a phenomenal success story having achieved so much in such a short period of time. 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.”
With so many well-known investors and influencers backing the company up, the German startup is all set to expand its operations internationally, becoming the biggest service provider of fitness and self-growth.