Dutch startup Virtuagym which makes fitness apps aimed at buyers and fitness professionals has picked up €2.1 Million in its latest funding. The amount though seems modest, has been dubbed as Series A. The funding was backed by Saffelberg Investments. The first significant round of venture capital financing was noticed and well received.
What the boss has to say?
The CEO and co-founder of Virtuagym, Hugo Braam, was quoted saying that the corporate will use the latest funding to accelerate and enhance the global expansion. He also said that the company will now invest further in the improvement of its products and amenities for clients including gyms, running shoes and corporate fitness services. The company boasts a hefty count of 7 million buyers and 1800 businesses and it focuses on making fitness a revolution rather than a need.
As per Braam, the core aim of the company has always been to encourage and promote the notion of fitness among individuals. The company wants its users to live a life that is healthier and more active while making complete use of the latest technology. Bram also mentioned that the organization has no aim at achieving more profits, rather it targets a revolutionary change amongst the behavior of people. They want to make the app as easy as possible for their users, through smart feedbacks and advices.
When it comes to dealing with the associated businesses, they focus on helping the health and fitness professionals by leveraging the company’s proven consumer technology within their ventures. After all taking care of both ends through associated businesses and consumers is the unique selling point of Virtuagym.
What makes the Virtuagym stand out?
The best part about the company is its dual approach. The company works on both, business to customer and business to business basis. It concentrates on consumers by releasing centrally focused applications such as Virtuagym Food. The app reportedly is giving a stiff competition to MyFitnessPal. On the other hand, for the businesses, it has made things extremely easy by developing and releasing an ‘all-in-one’ cloud based solution that accommodates tools for booking, billing and member management.
As per Braam, apart from the fact that the company caters towards both professionals and consumers, another thing which distinguishes Virtuagym is the fact that the app offers everything at a single platform. There is not only nutrition tracking but a very solid exercise coaching system as well. This makes them a complete one stop shop for all the individuals including trainers and trainees. The company wants fitness to become a strong agenda.
Though critics claim this ‘business to business and business to consumer’ approach to be an ambiguous one, Braam considers this to be a key part of company’s strategy. According to him, the success he achieves in consumer market allows the company to offer the same tools to its business clients. Thus, making it a formula that well tried and tested. Virtuagym significantly aims at becoming the electronic healthy record of the fitness industry. In the course of expansion and diversification, the company is already partnering with the large fitness industry players such as Life Fitness, matrix and Keiser.
The company hopes to make the most of the newly received funding so that it can extract the maximum out of the money and uphold its distinguished identity.
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