RivalHealth has raised $3 million in financing. The lead investor was Atlanta-based Fulcrum Equity Partners. WRD Capital also participated in the round. According to the company, the capital will be used to expand the sales team and enhance products. Based in Raleigh, N.C., RivalHealth is a provider of health solutions for corporations, schools and organizations.
RALEIGH, N.C. – August 15, 2013 – RivalHealth, an outcomes-based preventative health company offering customized fitness and nutrition programs for corporations, schools and organizations, announced today it has raised $3 million in growth capital led by Atlanta-based Fulcrum Equity Partners. Existing investors participated in the round and were joined by new, value-added investors, including WRD Capital. The new financing will be primarily invested in enhanced product offerings and expansion of the sales team.
“With this new capital infusion, we’re positioned to aggressively expand on our strong, initial customer footprint,” said Pete Durand, founder and CEO of RivalHealth. “Additionally, it will allow us to create more content and enhance both our mobile and social product offerings to have a more complete solution for our customers.”
Founded in 2010, RivalHealth has built a considerable presence in both the corporate and education markets with customers such as BB&T, Twinings of London, Park Ridge Health, First Citizens Bank and Washington Local Schools of Toledo, Ohio. RivalHealth has also entered into a strong partnership with Blue Cross Blue Shield of North Carolina to offer its customized fitness and nutrition programs to Blue clients.
“Pete and his team have built a tremendous platform that enables organizations to engage their population with customized exercise and diet plans that can fit the needs of everyone – from the most fit marathon runner to an individual with substantial wellness needs,” said Jim Douglass, partner at Fulcrum. “Organizations of all sizes are realizing the importance of having healthier workers, not just for lowering the cost of care but for helping increase employee productivity, retention and satisfaction.”
Based in Raleigh, N.C., RivalHealth is an outcomes-based preventative health company offering customized fitness and nutrition programs for corporations, schools and organizations searching for an effective and sustainable wellness solution. Rival Fusion, the company’s primary offering, is a web and DVD-based subscription service emphasizing natural weight management and fitness through exercise and sensible nutrition. Rival Fusion is deployable across any size company yet customized to the individual employee and provides a unique patent-pending measuring system without daily journaling or activity-based tracking. For more information, visit www.rivalhealth.com.
About Fulcrum Equity Partners
Fulcrum Equity Partners is a growth equity fund based in Atlanta, Georgia, with over $140 million under management. Fulcrum invests in a wide variety of industries with an emphasis on information technology, healthcare, business services and technology enabled operating companies. Fulcrum provides initial equity financing of $1-5 million and up to $10 million over the life of the investment to meet a wide range of needs including internal growth initiatives, acquisitions, management buy-outs, shareholder liquidity and recapitalizations. For more information, visit www.fulcrumep.com.