People often find themselves ignoring fitness because they say it is too difficult to get spare time in the busy and hectic life. However, with technology evolving as always, there have been a number of startups venturing in the healthcare industry to figure out the possible solutions to keep one fit and healthy.
Aaptiv Inc, a New York-based company which says that they're Netflix of the fitness has bagged $22 million in their Series C funding. The funding round saw growth equity firm Millennium Technology Value Partners lead the funding round along with new investor 14W, a VC firm which has invested in the likes of Wallapop, Glossier, Lyst, and Goop. The investment round also saw participation from the existing investor Insight Venture Partners. The total fund raised by the company with the current C Series round added is now at over $52 million.
The firm intends to use the capital in the company's technology innovation, product growth, and customer acquisition.
Founded by Ethan Agarwal in 2015, the company provides health and wellness app for it’s more than 200,000 paying members which they garnered in last two years time. Commenting on the top investors backing the firm, Agarwal said that "We are honoured to be supported by the world's leading investment firms and technology companies. Aaptiv is now uniquely positioned to continue its dominance in the rapidly growing digital wellness content market. This capital - along with the support from our strategic investors - will allow us to continue to improve the world-class product experience we build for our hundreds of thousands of members."
Ray Cheng, one of the Partner at Millennium has impressed by the speed of Aaptiv in which they have established themselves in the health space industry. "The company's growth and user engagement metrics over the past two years are some of the best we have seen and we believe a large opportunity awaits as Aaptiv continues to deliver the best in class workout experience," said Cheng.
Image Courtesy : martechseries,aaptiv