Aaptiv Announces Series A and Series B Financing Rounds Led By Insight Venture Partners
The audio fitness company raised $38 million to change the way people work out and achieve their exercise goals
NEW YORK, Dec. 1, 2017 /PRNewswire/ -- Aaptiv, one of the world's largest digital health companies with 200,000 paying members, today announced its Series A funding of $12 million and Series B funding of $26 million, both led by Insight Venture Partners, along with existing investors Arena Ventures, Pear Ventures and Switch VC. This funding will be used to enhance the member experience and fuel growth.
"I'm excited to reach this milestone and invest in the next stage of growth for Aaptiv," said Ethan Agarwal, Founder and CEO of Aaptiv. "In the past, high quality training was an inconvenient luxury; we're making it globally available without jeopardizing quality. We achieve this by being the first and only digital health company dedicated exclusively to audio based fitness content. Audio is the best medium for cardio and strength training activities, and Aaptiv is the leader in audio fitness."
In addition, Aaptiv announced that Thilo Semmelbauer, Venture Partner at Insight Venture Partners, former President and COO of Shutterstock, and previous interim CEO and current board member of Weight Watchers, has joined its board of directors.
"What impresses me about Aaptiv is that it isn't a hot trend that can be replicated or might fall out of favor," said Semmelbauer. "Rather, its appeal is broad because it's not limited to any one set of people or type of community. Aaptiv can reach everyone in their own way to make it truly a personal fitness journey for every individual."
With over 2,500 classes already available, and 30+ additional classes added every week, Aaptiv has revolutionized how and where people can exercise. The app hosts a wide range of fitness categories and invites different lifestyles and levels of experience, appealing to people of all backgrounds, skillsets, and interests.
About Aaptiv, Inc.
Aaptiv is a digital health company that provides unlimited access to audio-based fitness classes, programs, and challenges created by expert trainers. Featuring workouts for cardio, strength, meditation and more, classes are paired with amazing playlists for inspiring and effective music driven experiences.
Headquartered in New York City, and launched in 2015, Aaptiv offers more than 2,500 classes on the platform. Fifteen active trainers create classes, with 30+ new classes added every week. Each class is individually produced in a professional recording space, with state-of-the-art sound mixing technology powered by a talented sound engineering team.
For $9.99 a month or $99.99 for the year, members get unlimited, on-demand access to classes. Access to exceptional personal training has never been easier, coming at a fraction of the cost of hiring a personal trainer, purchasing expensive equipment, or being confined to one fitness location.
For more information, please visit www.aaptiv.com, and follow Aaptiv on Twitter or Facebook.
About Insight Venture Partners
Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight has raised more than $18 billion and invested in over 300 companies worldwide. Our mission is to find, fund and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.
Aaptiv Press Contact
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SOURCE Aaptiv
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