Future plans to use the funding to hire full-time fitness coaches and expand into new areas. Here are the top-line bullets you need to know.
Future, a personal training app, has raised $75M in a Series C. The round drew participation from SC.Holdings, Trustbridge Partners, Optum Ventures, and Symphony Ventures, among others.
HOW’S THE COMPANY PERFORMING?
- California-based Future offers personalized and flexible training plans via its app.
- The company charges a membership fee of $149 per month per user for its services.
- The startup’s ARR is expected to exceed $100M by early 2023.
- Future has also announced that it will partner with celebrities Kate and Oliver Hudson to co-host, produce, and distribute a six-episode podcast series.
WHY DOES THE MARKET MATTER?
- The global online/virtual fitness market is expected to reach a value of $59.2B by 2027, growing at a CAGR of 33.1%, according to Allied Market Research.
- The increasing use of smartwatches and fitness trackers has contributed to market growth.
- Gym closures and lockdowns amid the pandemic have increased the demand for virtual fitness solutions.