Freeletics Closes $45 Million Series A Funding
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.”