Fitwall, a Newport Beach, CA-based fitness tech startup, has secured additional funding.
The round, of undisclosed amount, was led by Jake Silverstein, who also joined Fitwall’s board of directors, and Jeff Greenberg*, cofounder of Manhattan Beach-based Skechers USA Inc. (NYSE: SKX), who joined the corporate advisory board.
The company intends to use the funds to expand its presence into new markets and further develop its in-studio and at-home fitness offerings.
Led by Josh Weinstein, CEO, Fitwall provides a 40-minute training program that combines coaches and technology for efficient workout. Its studios offer training sessions on the Fitwall, a device with hand and foot grips that allow for vertical “up and down” movement, which was developed by engineers and exercise experts. Members check in on an iPad, click into the Fitwall using a Bluetooth heart rate monitor, and receive constant feedback from the heart rate monitor and iPad throughout the session.
Every second of the training session is monitored and members track progress with FIT Factor (Fitwall Intensity Training Factor), a proprietary metric.
Each workout incorporates a series of moves like pull-ups, kicks and squats by stepping, pulling and jumping on rungs. Interspersed throughout are planks, rows and groundwork done with weighted resistance bungees attached to the Fitwall. The combinations of movements, adjusted based on each individual’s fitness level, are designed to train the body as a whole, instead of in pieces, to mimic the way the body is designed.
FinSMEs
26/06/2014
*Greenberg is a private investor based in Manhattan Beach, Calif., and the founder of G9 Development, a luxury real estate development company. He has been involved with two active lifestyle brands, Skechers and LA Gear, which have reached billion dollar valuations. After helping to found Skechers in 1992, Greenberg held a variety of roles, including senior vice president, Active Electronic Media, and chief operating officer at the company. He currently serves on the Skechers board of directors.