Aaptiv Closes Series C Extension with Investment from Bose Ventures
NEW YORK, July 25, 2018 /PRNewswire/ -- Aaptiv Inc., a leading provider of premium digital fitness content that has garnered nearly 200,000 paying members in two years, has closed an extension of its Series C funding round with a strategic investment from Bose Ventures. The announcement comes a month after Aaptiv closed its initial Series C financing, its largest round to date, and two months after it revealed its audio-guided fitness classes have been streamed more than 14 million times.
Bose Ventures, the investment group within Bose Corporation, will join Aaptiv's existing strategic investors including the Amazon Alexa Fund and Warner Music Group.
"Closing our Series C was a significant milestone for Aaptiv. We are honored to now be supported by Bose, a global leader and innovator in audio products and research for more than 50 years," said Ethan Agarwal, founder and CEO of Aaptiv. "Aaptiv is committed to making audio the preferred format to consume digital fitness content simply because it's a better member experience, and we are thrilled that Bose is helping us achieve that."
Bose Ventures invests and collaborates with start-ups focused on technologies to help people live better and feel better. And as part of its recent introduction of Bose AR, the world's first audio augmented reality platform, Bose Ventures will work with companies creating apps, services, or technologies for the Bose AR platform. The platform combines data from embedded motion sensors and the GPS from an iOS or Android device to deliver an audible layer of information and experiences via wearable audio.
Aaptiv previously announced plans to develop on the Bose AR platform. The company will make its more than 2,500 workouts available through supported devices – allowing Aaptiv members to immerse themselves in audio content while remaining aware of their surroundings. This will be a game-changer for fitness enthusiasts, including competitive cyclists who often unplug their headphones while riding.
"We are impressed with the work Aaptiv has done to change the way people exercise and train," said Steve Romine, managing director, Bose Ventures. "Aaptiv's audio-based workout offerings are a great fit with our vision for the Bose AR platform and provide an excellent opportunity to collaborate around the future of fitness."
Additional investors in Aaptiv's initial Series C financing round, which was led by Millennium Technology Value Partners, included 14W, Insight Venture Partners, and NWS Holdings.
About Aaptiv
This is what fitness sounds like.™
Aaptiv Inc. is a leading provider of premium digital fitness content with a fast-growing community of nearly 200,000 members who take on average 30,000 of Aaptiv's exclusive classes each day. With a mission to empower everyone to live a healthier life, Aaptiv has transformed the way people exercise and train through its innovative use of sound. Every Aaptiv class combines the guiding voice of an expert Aaptiv trainer with motivating music by top artists in every genre. This audio-based format eliminates distractions, allowing members to focus on their fitness goals, when and where it suits them.
Aaptiv members have unlimited, on-demand access to over 2,500 audio-guided workouts and structured programs across every type of exercise and a wide variety of activities, including running, strength-training, yoga, indoor cycling, meditation, and more. Each workout or program is created by one of Aaptiv's 20 certified trainers who focus on goal attainment, encouragement, and positive reinforcement – emphasizing the importance of both mind and body strength in living a healthy life. Aaptiv constantly provides members with fresh content, adding 40 new classes every week. Launched in 2016 by founder and CEO Ethan Agarwal, Aaptiv has over 100 employees in its New York office and has raised over $50M from leading venture capital firms and top companies, including the Amazon Alexa Fund and Disney. To learn more and to download the app, visit Aaptiv.com.
Contact: Lauren Hanafin, [email protected]
SOURCE Aaptiv
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