In a sign of Covid-19 times, Irish gym management software startup Glofox has picked up another $10 million in funding to boost the launch of a new platform that allows fitness businesses and health clubs to handle live streaming sessions and on-demand content.
The financing round, which brings total funding for Glofox to $23 million, was curiously made by a new undisclosed investor. Previous backers include Octopus Ventures, Notion Capital, Partech, Silicon Valley Bank, and Tribal VC.
Founded in 2014, the Dublin-born company's fresh platform will enable gyms to keep operating remotely and fulfil their customer fitness needs online as strict pandemic-related lockdown measures continue to be enforced around the world.
Glofox, of course, hopes that even after the global crisis fitness businesses will continue using its platform to tap into new income streams.
The startup's CEO, Conor O’Loughlin, puts it like this:
"COVID-19 has transformed the fitness industry. Many gyms have made the leap to delivering virtual experiences overnight. Consumers have learned how to consume fitness content digitally and are beginning to feel comfortable with that. Businesses are adapting fast, and those that adopt new tools will survive now and be able to add new revenue streams coming out of this pandemic."
"Working remotely has allowed fitness entrepreneurs to learn new skills, enabling them to build better businesses in the future. After the crisis, local businesses that project a digital presence and can deliver complementary online and offline experiences will attract and retain more members," he added.