Real Ventures, White Star Capital lead $2.5 mln seed funding of Gymtrack


Personal Training in Gym

Gymtrack Inc has secured $2.5 million in a seed-stage financing round led by White Star Capital and Real Ventures. Other investors in the deal included 500 Startups and BDC Capital. Based in Ottawa, Gymtrack is a provider of exercise planning and virtual coaching software and devices that help individuals track their workouts. Co-founded in 2014 by Lee Silverstone and Pablo Srugo, the company is a recent graduate of 500 Startups’ accelerator program. Gymtrack’s technology, which is currently available at a number of sites in Canada, will later this year be introduced to additional gyms and fitness facilities, the company said.

PRESS RELEASE

Gymtrack Raises $2.5 Milllion Seed Round to Bring Intelligent Workout Tracking and Virtual Coaching to Gyms Worldwide

Gymtrack is changing the way people work out by introducing exercise planning and tracking software powered by connected devices into the gym. In order to bring its technology to gyms and fitness fanatics across the world, Gymtrack is proud to announce a $2.5 million first funding round, led by White Star Capital and Real Ventures. Additional investors include 500 Startups and BDC. These funds will support Gymtrack’s mission to bring the Internet of Things, wearables and virtual coaching to gyms and fitness facilities around the world.

Founded in Ottawa, CA and a recent graduate of the 500 Startups San Francisco accelerator program, Gymtrack has previously been featured as a leading company by TechCrunch and The Next Web.

Gymtrack represents the future of the fitness industry by offering software and devices to track a member’s movements in the gym while working out. Gymtrack will automatically count the reps of a 100lbs squat on a machine, or an increase from a 25 to a 30lbs weight dumbbell curl. It does this by providing gyms with smart sensors that seamlessly integrate into their existing gym equipment. This includes a smart barbell attachment that automatically scans weight plates and a smart pin that attaches onto weight stack machines to detect what weight is selected. The pin counts repetitions and sets, and keeps track of statistics like range of motion, power and tempo. Gyms install Gymtrack’s technology without replacing any of their existing equipment.

Workouts are tracked via a mobile application available on iOS and Android that tracks each user’s progress. An additional product allows personal trainers at gyms to digitally suggest improvements and focus areas for their clients’ next workouts.

Gymtrack’s technology enables gyms to have a much deeper relationship with its members, and it allows users to efficiently track their workouts and strength progress.

Gymtrack is currently available at a small number of gyms in Canada and will be rolling out across major gym chains later this year.

According to co-CEO Lee Silverstone “Gymtrack is built for people who want meaningful and actionable data about their workouts. We built Gymtrack out of a personal need. There is nothing else on the market that can give me the data I need to get healthier and make progress in the gym. I’m not a hardcore athlete. I’m like everyone else. I want to feel good, look good and be healthy. This means being able to track my weight lifting progress, bodyweight workouts, and my cardio workouts all without having to change the way I regularly interact with my gym.”

“Gymtrack’s unique technology allows gyms to create deeper relationships with their clients, while users get more insight into their progress and health. We are excited to be backing Lee, Pablo and their team, and to continue tracking our workouts with Gymtrack,” said Jean-François Marcoux, a partner at White Star Capital.

For more information, visit gymtrack.co

Contact: Lee Silverstone
Phone: 1 (613) 700-6084
Email: [email protected]

Photo courtesy of Shutterstock

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