AI-Supported Fitness Coaching App, Freeletics Raised $25 Million in Series B Funding

 In State
Freeletics

Freeletics, a New York-based AI-sup­port­ed fit­ness coach­ing app, has now secured $25 mil­lion in Series B fund­ing round.

Freeletics is found­ed by Daniel Sobhani. It is a provider of AI-based fit­ness and mind­set coach­ing, with 48 mil­lion users in more than 160 coun­tries. The fit­ness app also pro­vides with an AI tech­nol­o­gy that allows the app to learn from mil­lions of users and their indi­vid­ual feed­back, so it can devel­op ongo­ing smart Training Journeys unique­ly designed to suit every single user, down to the last exer­cise.

Executive Opinion

Freeletics CEO Daniel Sobhani, said, “We are very grate­ful for our suc­cess and the sup­port of our fan­tas­tic com­mu­ni­ty over recent months and years. With our cur­rent tra­jec­to­ry and strong growth effi­cien­cy, this fund­ing will drive us through the next turn­ing point in our jour­ney, fuel­ing major prod­uct inno­va­tions as well as global expan­sion, espe­cial­ly in mar­kets such as the U.S. Now more than ever, with the effects of COVID-19, it’s cru­cial that we pro­vide the most holis­tic and per­son­al­ized solu­tion we can to help people become their best selves phys­i­cal­ly, men­tal­ly, and emo­tion­al­ly.”
John Spinale, a Managing Partner at JAZZ Venture Partners, said, “While a rel­a­tive­ly new player in the U.S., Freeletics is a clear global leader in at-home fit­ness, and we believe they are per­fect­ly posi­tioned to con­tin­ue lead­ing the fit­ness indus­try into the future post-COVID-19 in the U.S. market. Not only is their hyper-per­son­al­ized dig­i­tal fit­ness coach­ing based on the most advanced AI tech­nol­o­gy in the indus­try, but they also take a com­plete­ly holis­tic approach to long-term behav­ior change. In an ocean of unper­son­al­ized fit­ness stream­ing con­cepts, they offer a sophis­ti­cat­ed and adap­tive per­son­al coach for every aspect of per­for­mance and well-being – whether mental or phys­i­cal. This is a promis­ing indi­ca­tion of what is still to come.”

Freeletics’ Latest Funding

The round was backed by the Causeway Media Partners and JAZZ Venture Partners with sup­port from the KKCG.

Freeletics intends to use newly raised funds to devel­op new tech­nolo­gies, build new busi­ness ver­ti­cals, and expand the global com­pa­ny foot­print, notes the announce­ment.

PC: Pablo, Pixabay

TechSutram source|articles

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