Netpulse raises $13M for fitness apps for gyms

By Jonah Comstock
05:34 pm
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San Francisco-based Netpulse, a fitness app company that focuses on creating software for gyms and fitness clubs, has raised $13 million in a new round of funding led by August Capital. Javelin Venture Partners, Nokia Growth Fund, and DFJ Frontier also participated in the round.

The announcement follows on a pattern of Netpulse raising similar amounts of funding every two years. The company raised $15.6 million in 2012 and another $18.6 million in 2014. The company says it will use this latest round to develop new features and continue its global expansion.

“While lots of fitness technology companies compete for consumers outside of the gym, no one even comes close to Netpulse inside the gym,” Dave Marquardt, founding partner of August Capital, said in a statement. “They were the leader in bringing entertainment, workout tracking and virtual scenery to nearly all of the brands of cardio equipment, and now they are the clear leader in bringing a sophisticated mobile app to fitness clubs throughout the world.”

Netpulse has increased its customer base by 450 percent and launching a new suite of features for a gym's mobile app that makes it easier to acquire new customers. This is also the company's first announced funding since its acquisition of Club Apps for an undisclosed sum in 2014.

“The first quarter of this year was an exceptional realization of many of the growth initiatives we’ve executed,” John Gengarella, Chief Executive Officer of Netpulse, said in a statement. “We successfully introduced our first suite of mobile acquisition products, expanded into new regions around the globe and strategically accelerated a robust partner ecosystem. With Netpulse experiencing significant demand for the mobile technology to engage club members, the timing was right to raise growth capital and accelerate the deployment of these advanced products."

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