Glofox, a gym management software startup out of Los Angeles, announced Tuesday it raised an additional $10 million from an undisclosed investor, bringing its total Series A funding to $20 million.
The COVID-19 pandemic has upended the $94 billion fitness industry. As much of the country continues to shelter in place, many gyms and fitness centers have had to get creative to stay afloat. Soul Cycle has started selling fitness equipment to keep up with virtual fitness startup Peloton and ClassPass has started letting studios to stream live, bookable classes on the platform. Meanwhile, sales of MIRROR, a $1,495 at-home fitness system, have doubled.
In response to this shift toward virtual fitness, Glofox announced it has developed a new platform that lets gyms and studios around the world deliver live and on-demand workouts for their customers. So, instead of just helping gyms handle things like membership, payments and retention, the company will help these businesses navigate a more quarantine-friendly business model.
Glofox claims several fitness studios, including Tough Mudder Bootcamp, SNAP Fitness and 9Round have already used the platform to go virtual.
“COVID-19 has transformed the fitness industry. Many gyms have made the leap to delivering virtual experiences overnight,” CEO Conor O’Loughlin said in a statement. “Businesses are adapting fast, and those that adopt new tools will survive now and be able to add new revenue streams coming out of this pandemic.”
