Paceline Raises $29.5M in Series A Financing

Paceline, a San Francisco, CA-based retail health and wellness platform that incentivizes consumers to live a healthy lifestyle, closed a $29.5m Series A financing round.

The round was led by Acrew Capital, with participation from Mubadala Capital along with existing investors. Additionally, Mark McCombe, investor and Senior Managing Director of BlackRock, will join the board.

The company intends to use the funds to build out its team, expand their rewards program and further extend the rollout of a full embedded financial platform later this year.

Led by Joel Lieginger, CEO and founder, Paceline is a retail health and wellness platform that incentivizes consumers to be active with curated offerings from health and wellness brands including Home Chef, Echelon,Hyperice, and Brownie Brittle. Consumers earn health and wellness rewards for 150 minutes of elevated heart rate a week.

Over the last fifteen months, Paceline has built a community of active individuals who have already logged over 20 million workouts, over 600 million exercise minutes, with some early members maintaining 60+ weeks of consistent long-term activity. Since its beta launch last year, customers have earned more than 580 thousand rewards to more than 100 brand partners representing over $1.8 million in rewards value.

FinSMEs

23/06/2021