Virtuagym has raised $2.3 million (2.1 million euros) from Saffelberg Investments, a private Belgian investment firm, for its mobile fitness coaching system. One existing investor is Sanoma Ventures. The company has offices in Amsterdam and Los Angeles.
Virtuagym sells its offering to consumers as well as fitness professionals. The app, available on iOS and Android devices, includes personalized workout plans that help users set objectives, like losing weight or gaining muscle, track calories, access customized nutrition plans, and communicate with others using the app. Virtuagym's app offers a personal trainer that shows users how to do each exercise. The company said it has a community of more than 7 million users. Its product is also used at 1,800 businesses.
"Our new investor recognized that we provide a unique SaaS solution that combines both a consumer and professional service in one platform," the company wrote in its blog. "Since we have already proven to be sucessful in Europe, we all believe that we can now take Virtuagym to the next level."
In the last two years, two fitness coaching apps have been acquired. In February 2014, San Francisco-based MyFitnessPal, which was later bought by Under Armour, acquired fitness coaching startup Sessions. Shortly after the acquisition the company’s product lead and Sessions co-founder Nick Crocker said coaching would be a big part of MyFitnessPal’s future revenue strategy.
Then, this year, San Francisco-based Fitbit acquired fitness coaching app developer, FitStar, to add more training features it its app. Fitbit already offers a premium $49.99 a year service that includes personalized fitness plans and goals generated after an analysis of the user’s Fitbit data. The FitStar acquisition was intended help Fitbit build out its premium subscription features even more.