Fitness-focused digital health startup Pear Sports is buying fellow exercise company Pilates Metrics for an undisclosed sum.
As part of the deal, Pear will be able to integrate Pilates Metrics digital tools into its coaching and wellness offerings. Pilates Metrics brings to the table a digital platform that lets Pilates teachers and studios track, chart and share student progress.
The tool is able to generate anatomical and biomedical stats, graphs and charts. It can send clients motivations and educational reports.
Meanwhile, Pear uses AI to help tailor content and personalize fitness programs. It also has a real-time coaching tool, and smart capturing to help interpret fitness data. The company is able to integrate wearable data into its platform.
Next up the company plans on integrating real-time coaching into workout equipment like treadmills and weight-stack machines.
WHY IT MATTERS
This latest acquisition is posed to help Pear Sport expand into new types of fitness. Pilates is a popular workout in the US. According to Statista, over 9 million people participated in Pilates in 2018.
"The opportunity to apply PEAR Training Intelligence to Pilates and related modalities will take personalized holistic health content to the next level," Joseph Quinn, founder of Pilates Metrics, said in a statement. "Empowering teachers, coaches, and building connectivity is key in today’s wellness world. Together, we will be able to prescribe an adaptive regimen to optimize outcomes for musculoskeletal and neuromuscular disorders, preoperative conditioning, rehabilitation, athletic performance and more."
THE LARGER TREND
This news marks Pear Sports' third acquisition since the start of 2020. In May of 2020, the company purchased Performance Lab, which specializes in using AI to gain insights into athletic performance and then develop a personalized exercise program.
Then in February of 2020, the company announced the acquisition of Functional Solutions, an exercise-focused startup.
Digital fitness tools are plentiful on the market today. Even tech giants are jumping into the game. In September, Apple announced a new video fitness-class offering called Apple Fitness+, which is based on a subscription model. Members can stream videos and integrate the service with its activity-tracking functions.
But there are scores of smaller companies on the market. At-home digital fitness studio Tempo raised $200 million earlier this week, and digital fitness platform Moxie scored $6.3 million earlier this week.