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cavacapital.com

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Investments

13

Portfolio Exits

3

Funds

6

About Cava Capital

Cava Capital is an early stage venture firm that targets Series A and Series B rounds in Transformational Digital Media, Information Services, Mobile and Internet companies with operations primarily in the Metro New York region.

Cava Capital Headquarters Location

18 South Main Street

Norwalk, Connecticut, 06854,

United States

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Latest Cava Capital News

FitLab Raises Growth Capital, Announces Acquisitions Of Electric, Fitplan And Ragnar

Jan 18, 2022

FitLab, Inc. announced the closing of its Series A financing, bringing total capital raised to more than $15 million. Investors include Two Styx Capital, CAVA Capital, Snoop Ventures, Audie Attar of Paradigm Sports Management, and Courtney Reum of M13. The funds will be used to scale its global brands, accelerate the opening of boutique fitness studios, launch new mass-participation events, and develop technologies to that bridge the gap between at-home and in-person fitness. FitLab, Inc., based in Newport Beach, CA, was founded by former Nike and New Evolution Ventures executives Brian Kirkbride and Mike Melby in 2019. Through partnerships, proprietary development and a series of acquisitions, FitLab developed an integrated platform that includes McGregor Fast, the combat-focused fitness experience by Conor McGregor and his trainers; XPT, the training system from Laird Hamilton and Gabby Reece that combines its proprietary performance breathing with training and recovery methods; and Electric, an action sports brand focused on performance eyewear, apparel and accessories. “We saw a failure from the fitness industry to put the needs of members first,” said Kirkbride. “Even before the pandemic, the data showed that the future of fitness is clearly hybrid, and that has only accelerated. Consumers don’t want to look for a world-class, at-home offering, and find a studio or gym that they love, and then try to track down a challenge or event to motivate them to train let alone pay separately for all of them. They’re forced to do that today because that’s how the industry is set up. Until FitLab, nothing was built from the ground up to provide truly holistic, immersive, connected experiences across the fitness continuum.” FitLab also announced the acquisitions of Fitplan and Ragnar, bolstering the company’s presence in at-home training and mass-participation events. Fitplan is a fitness app that provides training plans, workout routines, nutrition guidance, and advice from leading fitness creators and athletes. The app allows users to track progress, connect with an online community and train with 50-plus athletes, coaches and trainers, like Mike O’Hearn, Michelle Lewin, Rob Gronkowski, Jen Selter, and Alex Rodriguez. “We are constantly searching for innovative companies that we believe add new strengths and capabilities to FitLab’s integrated platform,” Melby said. “Fitplan paved the way for the fitness creator boom we see today, and its roster of world-class trainers provides athletes around the world with democratized access to the biggest names in the game. Along with Electric, Ragnar, and the rest of our brands, Fitplan will leverage FitLab’s omnichannel strategy to better serve its users in more places and across an increasing number of training modalities.” Co-founded in 2004 by CEO, Tanner Bell, Ragnar is one of the largest overnight running relay series worldwide, which the company will leverage across each of its brands. “I am thrilled that Ragnar is joining the FitLab portfolio,” Bell said. “This union will accelerate Ragnar’s quest to bring moments of accomplishment and connection to athletes around the globe, no matter what their fitness interest.” Share:

Cava Capital Investments

13 Investments

Cava Capital has made 13 investments. Their latest investment was in FitLab as part of their Series A on January 1, 2022.

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Cava Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/14/2022

Series A

FitLab

$15M

Yes

4

1/21/2016

Series A

Confirm.io

$4M

Yes

1

9/16/2015

Unattributed VC

CaaStle

$1.5M

Yes

3

8/27/2014

Series B - II

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$99M

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10

11/1/2013

Series B - II

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$99M

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10

Date

1/14/2022

1/21/2016

9/16/2015

8/27/2014

11/1/2013

Round

Series A

Series A

Unattributed VC

Series B - II

Series B - II

Company

FitLab

Confirm.io

CaaStle

Subscribe to see more

Subscribe to see more

Amount

$15M

$4M

$1.5M

$99M

$99M

New?

Yes

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

4

1

3

10

10

Cava Capital Portfolio Exits

3 Portfolio Exits

Cava Capital has 3 portfolio exits. Their latest portfolio exit was Confirm.io on January 23, 2018.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

1/23/2018

Acquired

$99M

1

5/9/2017

Acq - Fin

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$99M

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10

6/14/2016

Acquired

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$99M

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10

Date

1/23/2018

5/9/2017

6/14/2016

Exit

Acquired

Acq - Fin

Acquired

Companies

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Valuation

$99M

$99M

$99M

Acquirer

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Subscribe to see more

Sources

1

10

10

Cava Capital Fund History

6 Fund Histories

Cava Capital has 6 funds, including Cava Capital SPV XII.

Closing Date

Fund

Fund Type

Status

Amount

Sources

11/17/2020

Cava Capital SPV XII

$0.24M

1

11/16/2020

Cava Capital SPV XVI-A

$99M

10

9/28/2020

Cava Capital SPV VIII

$99M

10

3/24/2020

Cava Capital SPV XV

$99M

10

Cava Capital Fund I

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10

Closing Date

11/17/2020

11/16/2020

9/28/2020

3/24/2020

Fund

Cava Capital SPV XII

Cava Capital SPV XVI-A

Cava Capital SPV VIII

Cava Capital SPV XV

Cava Capital Fund I

Fund Type

Subscribe to see more

Status

Subscribe to see more

Amount

$0.24M

$99M

$99M

$99M

Sources

1

10

10

10

10

Cava Capital Team

2 Team Members

Cava Capital has 2 team members, including current Founder, Managing Partner, Geoff Schneider.

Name

Work History

Title

Status

Geoff Schneider

Founder, Managing Partner

Current

Kevin M. Lynch

Chief Financial Officer

Current

Name

Geoff Schneider

Kevin M. Lynch

Work History

Title

Founder, Managing Partner

Chief Financial Officer

Status

Current

Current

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