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.
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