Proteus Motion, a NYC-based fitness technology company, raised $8.5m in Series A funding round.
The round was co-led by Acies Investment and HBSE Ventures with participation from Harrison & Co., Monozukuri Ventures, and 412 Ventures, as well as Blake Griffin’s Blake Griffin Enterprises, NBA Champion Matthew Dellavedova and three-time World Series champion Jon Lester.
The company, which has raised $17m to date, intends to use the funds to expand the team, scale production capabilities and its software offerings.
Led by Founder and CEO Sam Miller, Proteus Motion developed a system that utilizes patented strength measurement software, which guides users through 4-minute physical assessments which deliver performance insights, while also providing a resistance training experience called 3D Resistance™ for some of the world’s top athletes.
Currently, the company has its systems installed in 41 states and two Canadian territories. It is used by a number of high-profile athletes including the MLB’s Miguel Cabrera, Giancarlo Stanton, JD Martinez and Justin Verlander, the NBA’s Damian Lillard, golf stars DeChambeau and Jon Rahm, and NFL quarterback Patrick Mahomes.
In conjunction with its funding announcement, Proteus Motion also announced that Paul Byrne, one of the most recognized and respected executives in the fitness industry, will join its board of directors. Byrne served as president of Precor from 2000-2012. During his tenure, Byrne grew Precor from a $20 million manufacturer of home rowing equipment to a $410 million supplier of home and commercial fitness equipment. Most notably, Byrne is credited with bringing the elliptical trainer to market, which became one of the best-selling fitness products of all time.
FinSMEs
20/07/2022