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Fitness app FitOn acquires corporate wellness platform Peerfit

The fitness and wellness startup Win raised $40 million in funds at the Serie C led by Delta-v Capital. Win is also expanding its reach into wellness by acquiring the corporate wellness platform peer fit, based in Tampa. the founder of peer fitEd Buckley will remain in his current role as CEO.

The funding comes as the Los Angeles-based company hit 10 million users last year, with personalized fitness and wellness programs. The app includes workouts with various partners including Orangetheory Fitness, KINRGY, and Zumba, along with celebrity ambassadors Gabrielle Union-Wade, Julianne Hough, Jonathan Van Ness, Halle Berry, and Lindsey Vonn among others.

Founded by the husband-and-wife team of former Fitbit executive Lindsay Cook and AllTrails founder Russell Cook, the app launched two years ago with a mission to offer people an affordable and inclusive way to get closer to the welfare. The duo has as purpose provide premium fitness content that is easily accessible, with a social fitness experience that helps people find motivation.

“Our approach has been to harness the ubiquity of the smartphone to give everyone a fitness in their pocket and a social experience they can't find anywhere else,” said CEO of WinLindsay Cook. “Exercising and being active is an integral part of what helps us stay healthy and feel good, but like many executives, I've found that sometimes we're all just too busy to exercise. I founded Win in 2019 because I wanted to give people an affordable and inclusive way to tackle wellness by putting it at the top of their to-do list.”

Cook says that the acquisition of peer fit brings together both home and gym fitness to support the health and wellness needs of consumers as well as employees and Medicare beneficiaries. peer fit connects businesses, individuals and insurers with local fitness experiences and wellness services and has more than 13 employer clients. Cook says that by integrating peer fit en Win, the company will be able to accelerate its entrepreneurial business.

As for the new financing, Cook says that Win will use a part of the investment to execute the transaction of peer fit and continue to invest in your business product. The company will also dedicate some of the funds to expand its team and drive international growth in the consumer and business wellness markets. The funding round included participation from Accel, Maverick Ventures, Second Avenue Partners and Mantis VC, along with a strategic investment from United Talent Agency Venture Fund, UTA VC. The new investment brings the company's total funding to $70 million.

Cook says that Win has seen accelerated growth in the digital fitness industry during the pandemic and has seen a significant increase in workouts and subscriptions. Win increased threefold in the number of friends exercising together. The company's goal is to get 100 million members to exercise every week in Win. Regarding the future, Cook says that Win focuses on reducing barriers and empowering people to fully engage in their health and wellness.

“We are focused on continuing to innovate premium content, creating more personalized fitness experiences, expanding internationally, and giving every person a social responsibility that you can't find anywhere else,” said Cook.

The investment of the Serie C of the company follows its financing of the Serie B of 18 million announced in October 2021. The round was led by Delta-v Capital, with participation from existing investors Accel, Telstra Ventures, Crosscut Ventures, Maverick Ventures and Second Avenue Partners.

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