Virtuagym, the leading global fitness technology provider, has raised a new 3 million Euro investment from Icecat, an Amsterdam-based technology company which invests in innovative technology organisations.
The funding supports Virtuagym’s further international growth, with significant investment going into its innovative All-In-One software for club management, coaching and engagement in the health and fitness industry.
“The last two years have been quite challenging for our industry, but I believe our solutions have shown our customers great value, especially in making the transition towards a more hybrid, digitally-powered customer experience,’’ says Hugo Braam, CEO and Co-Founder of Virtuagym.
“We are extremely excited and humbled by the support of Icecat with this new investment. We’re just getting started with our big plans to positively impact our industry even more, and we’ll keep working hard to help our customers with great new solutions.”
As the physical fitness industry emerges from the global pandemic, this next investment represents an important point in Virtuagym’s mission to make the world a healthier and happier place. The company, which was originally founded by brothers Hugo and Paul Braam in 2008, currently empowers more than 9,000 fitness businesses and 45,000 fitness professionals, serving over 2.5 million end-users every month with its brandable platform and mobile apps.
“We are happy to support Virtuagym in their plans for further health technology innovation and growth,’’ says Martijn Hoogeveen, CEO at Icecat. “We like the Virtuagym team and their cloud vision to help transform the health and fitness industry.”
Virtuagym is a global provider of health and fitness technology for coaching, engagement and management for the fitness industry and corporate wellness. The platform delivers a complete ecosystem of integrated mobile apps with solutions for exercise and nutrition guidance, progress tracking, wearables, online coaching, scheduling, billing and more.
Virtuagym supports more than 20 million consumers, over 9,000 fitness businesses, and 45,000+ trainers worldwide, including Mrs Sporty, XSport, Fit20, Fitness Park and many more.
Virtuagym currently has 200+ employees across their offices in Amsterdam and the Americas.
Icecat International BV is the 25 million euro investment fund of Icecat NV, which participates in this funding round.
Icecat NV – listed on the NPEX stock exchange since 2017 – is a profitable and fast-growing online publisher and syndicator of product information serving the global ecommerce market. One of Icecat’s Dutch portfolio companies Hatch, was recently acquired by its US-based competitor Pricespider.
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