Munich-based eGym, a provider of high-tech fitness equipment and software for gyms, raised $45 million in Series C funding. New investor HPE Growth Capital led the round with participation from existing backer Highland Europe and others.
Munich, March 21 rd, 2016. eGym, the leading provider of high-tech strength equipment and advanced software for organizing the fitness training floor, has today announced $45 million in Series C financing led by new investor HPE Growth Capital. Existing investors, including Highland Europe, also participated in the round.
eGym’s innovative product portfolio is a combination of eGym’s proprietary smart hardware and software, providing gym operators with essential information about their members and enabling gym members to have a personalized, dynamic training plan. By offering one app for both members and personal trainers, eGym simplifies operations by covering the end-to-end fitness process, independent of the equipment and device supplier. The training area is connected by the eGym system, which provides pioneering software that integrates with an ever-increasing number of devices from third party manufacturers.
Philipp Roesch-Schlanderer, founder and CEO of eGym, said: “Our product strategy is unique in the global fitness market. eGym combines the latest German-engineered electronic and machine technology with the advantages of mobile online applications. We support personal trainers and gym operators to make the gym work for everybody and believe that that once we have connected all aspects of the training floor, the usability and effectiveness of that gym dramatically increases. Members will be more successful in achieving their goals, leading to higher retention rates, whilst trainers can leverage real-time data to further support members with their ambitions. Everybody wins! We are hugely excited to have HPE as a new investment partner as they share our enthusiasm for cutting-edge technology and our ambitious growth objectives.”
The new capital injection will allow eGym to accelerate growth and aggressively invest in the expansion of the company’s technology and digitization strategy. Having launched the product successfully in more than half a dozen European countries within the last two years, more international regions will follow shortly.
Manfred Krikke, Partner at HPE: “We strongly believe that technology will revolutionize the way people exercise and contribute to a healthier and stronger lifestyle. Based on eGym’s innovative approach combining connected equipment, software and the Internet, as well as its extraordinary team and vision, we are confident that we’ve found a market leader.”
Irena Goldenberg, Partner at Highland Europe: “eGym’s pioneering product suite continues to redefine the gym industry, which is a massive market that is yet to be disrupted by digital innovative. We are immensely proud to welcome HPE to the eGym journey and are very excited to continue our own support of the company’s ambitious growth plans.”
Among the latest groundbreaking innovations developed by eGym are the eGym Trainer App and the eGym Member App, which provide intuitive and networked training plans for the best fitness experience possible. eGym also offers a full range of 18 internetconnected strength exercise machines for every major muscle group, providing a diverse range of benefits to both users and gym owners.
In conjunction with latest sports science expertise, eGym’s unique software enables fitness club members to design and follow a bespoke training program which automatically synchronizes to each machine as soon as the user engages with the equipment. Thanks to the eGym Cloud, all exercise results are stored, allowing for progress to be monitored closely.
These products, along with other new innovations, will be demonstrated live at the world’s largest upcoming industry conventions, IHRSA which takes place March 21st -24th in Orlando, FL, USA and the FIBO, which will take place from April 7th-10th in Cologne, Germany.
eGym (www.egym.co.uk) is the leading provider of advanced concepts for organizing the fitness training floor in gyms and other health care facilities, offering the complete infrastructure for the digital value chain: intelligent, fully-electronic strength equipment and CRM software for the next-generation training floor.