iFit, a Logan, UT-based provider of an interactive fitness streaming platform, raised $200m in funding.
The round was led by Pamplona Capital Management.
The company intends to use the funds to accelerate its growth in the connected fitness category.
Owned by ICON Health & Fitness, which is also the parent company of fitness market leaders NordicTrack, ProForm, and Freemotion, and led by Scott Watterson, Founder, Chairman and CEO, iFit provides a connected fitness streaming platform that allows a multi-faceted interaction between the user, their trainer and their smart machine. The system adjusts the speed, incline, decline, and resistance of iFit-enabled machines in sync with interactive trainer-led streaming workouts shot on location around the world.
Content on all machines includes interactive Studio Classes, Global Workouts, Cross Training Workouts and Google Map Workouts. It is available on NordicTrack treadmills, incline trainers, rowers, cycles, and strength products. ICON and iFit currently hold more than 275 fitness patents, with 138 pending. The workouts are available in English, Mandarin Chinese, Spanish and French, with more languages planned for 2020.