As part of the deal, Polku will enter into a strategic partnership with Smartum, another company in The Orange Company's portfolio that offers employers a platform to manage benefit programs. The partnership will allow Polku to serve Smartum’s nearly one million strong employee network and more than 10,000 partners.
SportSetter founder Niko Karstikko will continue as CEO of Polku, and will also participate in investment decisions at The Orange Company's investment division, The Orange Capital, which is focused on the wellness industry.
“Polku is the digital future for the wellness consumer and its service providers. We decided to capitalize on the evident synergies and the fantastic team behind the technology” Jarmo Hyökyvaara, Chairman of the boards of The Orange Company and Smartum, said in a statement.
The Polku brand was chosen to replace the SportSetter name to reflect the company’s broader ethos of wellness. The company says that Polku, which is a Nordic term for "your path", covers the entire holistic journey to overall wellbeing, not only fitness.
Polku connects customers and service providers ranging from owner operated yoga studios to large gym chains. It offers 450+ wellness activities, thousands of locations, and thousands of classes, courses, and products.
SportSetter was founded in Finland in 2013, and later expanded to the US and UK markets. The company’s investors include Reaktor Ventures, and Leena Niemistö among others.
“The Polku branding, Smartum synergies and The Orange Company’s involvement are fantastic continuation of what we built to date. Polku now has the opportunity to impact people’s wellness and significantly grow our audience” Karstikko said in a statement.