Glofox, a management platform specifically tailored to the needs of boutique fitness studio owners and their members, has announced the closing of a £7.8m Series A funding round.
The round was led by Octopus Ventures, with additional investment from Partech, Notion Capital and Tribal VC.
Glofox will use this investment to continue its expansion efforts in the US, continuing to build out its Los Angeles HQ, as well as allocating these new funds to product, developing additional innovative solutions for the enterprise/franchise market. The company will also use the funds to increase marketing efforts and fill key leadership positions.
Glofox enables boutique fitness studio owners to create and maintain authentic relationships with their members at every phase of the life cycle and at scale, whether they own one studio or 1,000.
The software’s intuitive interface and complete package of features benefits a rapidly increasing roster of independent studios and large fitness franchises across 43 countries, with 10 million classes booked through the platform each year – and growing.
Marieke Christmann of Octopus Ventures said: “Glofox enables fitness entrepreneurs to run their businesses successfully and efficiently so they can focus on their passion: to help their customers get fit and stay healthy. At the moment boutique gyms have to battle with a number of not-for-purpose and isolated applications; with Glofox, boutique gyms can manage key business functions and provide a premium customer experience seamlessly.
“While traditional membership gyms are growing at 5%, the boutique market is up 25%, which gives us confidence that the team can transform this startup into a large software player. We are excited to welcome Glofoxto the Octopus portfolio and be part of this brilliant team’s journey.”