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.”
