The company intends to use the funds to increase its development team, expand its presence in the U.S. by adding an office in the San Francisco Bay area and create scalable revenue channels to secure profitability by year end 2012.
Launched in September 2008 by Mette Lykke, Endomondo Sports Tracker provides a mobile phone app that works as a full-fledged personal trainer and a social training partner.
It can be used for running, cycling, walking and all other distance-based outdoor sports. Using GPS, the app tracks route, distance, duration, split times, calorie consumption, etc., while providing audio feedback on performance and social network tools. On most handsets, the app supports heart rate monitors.
It is available on seven mobile platforms (iOS, Android, RIM, Symbian, Windows Phone, Windows Mobile, Java).