Reform RX has secured $5.1M in funding, led by Clarendon Fund Managers - the equity fund manager for the Investment Fund for Northern Ireland.
The investment will fuel the company’s global expansion and drive further development of their already patented technology to further enhance Pilates personalisation and mind-body connection for a more holistic user experience.
Founded by functional movement specialist and Pilates expert Yvette McGaffin and Neal McGaffin in 2018, Reform RX has grown exponentially since then. The company generated $1M in revenue within two weeks of launch and sold out its initial product line in the first quarter of 2023.
Clarendon Fund Managers Investment Manager, Claudine Owens said: “With Neal and Yvette at the helm, Reform RX is an ambitious company that shares our vision for the future. It will be the must-have piece of equipment for every Reformer Pilates enthusiast and studio. The deal is the largest initial investment we have ever completed in a single NI company here at Clarendon, which is a reflection of the confidence we have in the team at Reform RX. I can’t wait to see how their journey develops from here.”
The company’s flagship product, the Reform RX, marks the first innovation of Reformers in 50 years. The machine combines traditional Pilates principles with advanced technology; it tracks user movement to the thousandth of a second, showing real-time biometric data, delivering an unparalleled workout experience.
“This significant investment will allow us to accelerate our global expansion and continue pushing the boundaries of what’s possible in Pilates,” commented Yvette McGaffin, CEO and co-founder of Reform RX. “At Reform RX, our mission is to transform the way people work out, guiding them beyond physical fitness to a deeper mind-body connection with themselves. By integrating mindful movement and mental clarity, we empower individuals to master the essential skill of emptying the mind, fostering resilience and calm amidst the noise of modern life. It's not just about fitness; it's about creating a sanctuary within where body and mind thrive together. Through partnering with Clarendon Fund Managers and completing the Investment Fund for Northern Ireland deal, we are taking the next step in our company’s growth."
Reform RX’s model is the world’s first connected reformer, enabling users to participate in streamed on-demand classes, connect to wearables, and receive meaningful workout metrics. Designed for versatility, it seamlessly integrates into various locations, including boutique studios, gyms, hotels, corporate venues, and direct-to-consumer settings. With the guidance of industry experts like Sam Bowen, formerly of Peloton, and Frank van de Ven, ex-Life Fitness, the team is redefining how Pilates is experienced across the globe by merging British design and craftsmanship with cutting-edge technology. The allure of the reformers extends to the entertainment industry, with many high-profile individuals choosing Reform RX to enhance their wellness routines.
Reform RX lead designer and investor, Austin Owens, added: "As the designer and an investor, I am thrilled to continue supporting Reform RX and its revolutionary vision for Pilates technology. This groundbreaking technology is transforming how people experience Pilates, providing impact and accessibility. It's an incredible opportunity to contribute to a project that is reshaping the future of fitness."
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