Virtuagym, an Amsterdam, The Netherlands- and and Medellín, Colombia-based provider of a cloud-based fitness software platform and mobile apps, closed a €6m Series B financing.
The round was led by Endeit Capital.
The company intends to use the funds to develop new innovations, strengthen their market position in both Europe and the Americas, while accelerating further expansion in new markets, such as yoga studios, martial arts and dance studios.
Founded by two brothers, Paul and Hugo Braam, Virtuagym provides an innovative fitness software platform for member engagement, coaching and club management. The platform consists of a complete ecosystem with integrated mobile apps with solutions for exercise and nutrition guidance, progress tracking, online coaching, member and staff management, scheduling, online sign-up, payments, access control, etc. Furthermore, it features an array of connections with a variety of partners to enable clients to connect their entire business to the system.
The company has over 200 employees in Amsterdam, The Netherlands and Medellín, Colombia, which support more than 11 million consumers, over 4,500 health clubs and 25,000+ trainers worldwide, including fitness chains Basic-Fit (NL), Xercise4Less (UK), various YMCA’s (USA), and XSport (USA).