Amsterdam-based fitness app company Virtuagym has raised $7 million (6 million euros) in its second round of funding. European tech investor Endeit Capital led the round.
"Technology is gaining momentum in the health and fitness industry," Hugo Braam, CEO of Virtuagym, said in a statement. "As a front-runner in the space we've been promoting technology for over a decade now, and it's great to see the market finally shifting. We are delighted to have Endeit Capital joining us. They have a strong track-record in scaling tech businesses internationally and are also experts in the areas of software and content. With their support and this new round of funding, it will help us to accelerate the international roll out and to keep investing in innovation to maintain our position as the industry innovator."
Founded in 2008 by Braam and his brother Paul Braam, Virtuagym offers a consumer-facing app for iOS and Android devices, as well as a professional app geared at gyms, health clubs, and personal trainers.
The consumer app includes a database of more than 4,000 workouts, which can be viewed as 3D animations or written instructions. Users can create custom routines for either the gym or the home. The app can also remind users to exercise and help them track exercises. A second app, Virtuagym Food, includes a calorie, carb, and fat counter, and the two apps can share data between them.
The app can connect to Fitbits and the company also has a partnership with wearable maker NEO Health, which makes an activity tracker and a body composition scale.
Virtuagym plans to use the funding to promote international expansion, strengthening its market presence in Europe and the Americas. The funding will also support product innovation, including new tools for yoga studios, martial arts dojos, and dance studios.
"Technology is transforming the way consumers interact with health and fitness clubs as well as their professionals and we believe that Virtuagym is uniquely positioned to tap into this," Hubert Deitmers, cofounder and managing partner of Endeit Capital, said in a statement. "With their innovative and wide-ranging solutions for health clubs, trainers, and studios, Virtuagym has achieved significant traction in this huge and growing market, both in Europe and the US. This, combined with its founders' vision and the company's ambitious outlook on product development, convinced us to assist Virtuagym’s roll-out and build a category leader. “