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Virtuagym eyes expansion following €2.1m funding boost
Health and fitness software provider Virtuagym is targeting significant international growth after securing €2.1m (US$2.3m, £1.5m) in funding from Belgium-based Saffelberg Investments.
Hugo Braam, CEO and co-founder of Dutch firm Virtuagym, said: “This investment will allow us to speed up our international growth and further invest in the development of products and services for our clients, which include gyms, trainers and corporate health services.”
Having launched in 2009, Virtuagym – which previously received funding from Sanoma Ventures, part of Europe’s Sanoma Media Group – has gained steady traction in both the B2B and B2C markets. Its consumer workout app has been downloaded more than seven million times, while on the industry-side, the company currently serves more than 1,800 fitness businesses across 20 countries, including large European fitness chains such as Basic-Fit, HealthCity and Cityfitness.
“Virtuagym provides an innovative SaaS solution in an interesting and rapidly growing vertical,” said Jos Sluys, CEO of Saffelberg Investments.
“It is quite unique in the way it combines both a consumer and professional service in one platform. The company has already proven to be successful in Europe, and with this investment we believe Virtuagym can take their business to the next level, including further expansion into the US.”