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iFit raises US$200m to accelerate growth plans
18 Dec 2019 . BY Tom Walker
iFit’s proprietary streaming technology allows a multi-faceted interaction between the user, their iFit trainer and their smart machine
Photo: ICON Health and Fitness
Interactive fitness streaming platform iFit has raised a US$200m warchest in order to accelerate its growth plans in the connected fitness sector.

The growth equity investment was led by Pamplona Capital Management and the funding will be used further expand iFit's presence in the connected home and club fitness industries.

iFit is owned by ICON Health & Fitness, which also owns the NordicTrack, ProForm, and Freemotion brands.

iFit’s proprietary streaming technology allows a multi-faceted interaction between the user, their iFit trainer and their smart machine.

iFit can be used to adjusts the speed, incline, decline, and resistance of iFit-enabled machines in sync with interactive trainer-led streaming workouts shot on location around the world.

"This capital raise will allow iFit to further accelerate its rapidly growing interactive fitness platform in the connected home and club fitness industries," said Scott Watterson, founder, chair and CEO of ICON.

"We will dramatically expand consumer awareness, broaden the most expansive library of interactive fitness content in the world, and continue to invest in innovation and technology that truly enhances our customers' fitness experience.

“As a company, we’re laser-focused on bringing iFit’s exceptional interactive fitness experience to as many consumers as possible, on as many products as possible, as fast as possible. This capital raise just accelerated our ability to achieve our mission.

"We have multiple brands including NordicTrack, ProForm and Freemotion, with multiple price points and multiple product lines of treadmills, bikes, elliptical machines, rowers and strength products.

"As a result, we enjoy a booming direct-to-consumer business and a successful retail distribution, with more than 1,500 locations where consumers can shop our connected equipment in person. These factors create a prime environment for sustainable membership growth.

“Our current base of 330,000 paid memberships is growing rapidly. We added more than 77,000 new paid iFit subscribers in our last quarter alone. That uptake is indicative of a strong consumer affinity for the iFit experience across our product lines."
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Jobs   News   Products   Magazine
PRODUCT NEWS
iFit raises US$200m to accelerate growth plans
18 Dec 2019 . BY Tom Walker
iFit’s proprietary streaming technology allows a multi-faceted interaction between the user, their iFit trainer and their smart machine
Photo: ICON Health and Fitness
Interactive fitness streaming platform iFit has raised a US$200m warchest in order to accelerate its growth plans in the connected fitness sector.

The growth equity investment was led by Pamplona Capital Management and the funding will be used further expand iFit's presence in the connected home and club fitness industries.

iFit is owned by ICON Health & Fitness, which also owns the NordicTrack, ProForm, and Freemotion brands.

iFit’s proprietary streaming technology allows a multi-faceted interaction between the user, their iFit trainer and their smart machine.

iFit can be used to adjusts the speed, incline, decline, and resistance of iFit-enabled machines in sync with interactive trainer-led streaming workouts shot on location around the world.

"This capital raise will allow iFit to further accelerate its rapidly growing interactive fitness platform in the connected home and club fitness industries," said Scott Watterson, founder, chair and CEO of ICON.

"We will dramatically expand consumer awareness, broaden the most expansive library of interactive fitness content in the world, and continue to invest in innovation and technology that truly enhances our customers' fitness experience.

“As a company, we’re laser-focused on bringing iFit’s exceptional interactive fitness experience to as many consumers as possible, on as many products as possible, as fast as possible. This capital raise just accelerated our ability to achieve our mission.

"We have multiple brands including NordicTrack, ProForm and Freemotion, with multiple price points and multiple product lines of treadmills, bikes, elliptical machines, rowers and strength products.

"As a result, we enjoy a booming direct-to-consumer business and a successful retail distribution, with more than 1,500 locations where consumers can shop our connected equipment in person. These factors create a prime environment for sustainable membership growth.

“Our current base of 330,000 paid memberships is growing rapidly. We added more than 77,000 new paid iFit subscribers in our last quarter alone. That uptake is indicative of a strong consumer affinity for the iFit experience across our product lines."
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EGYM presents Corona Gym Solution, for the successful re-opening of fitness studios
Finally, the time has come: fitness and health facilities around the globe are gradually resuming operations.
Bicester hotel opens purpose-built performance facilities to attract new target audience
The Bicester Hotel and Spa has launched purpose-built fitness and performance facilities to create a standalone, unique offering to attract a new demographic to the site.
EGYM launches digital functionality to help gyms adjust to a post lockdown world
As Governments turn attention to a lockdown exit strategy, the world is bracing itself for a ‘new norm’ where social distancing and heightened hygiene requirements become a part of daily life.
Adidas calls on BLK BOX for flooring solutions at new World of Sports complex
Adidas believes that creators, just like athletes, need an environment that inspires their employees to perform and believe that through sport, we have the power to change lives.
Gympass partners with Wexer to launch on-demand workouts for operators
Gympass has launched Gympass Plus - including an on-demand platform powered by Wexer - for its 2,200+ operator partners. The platform comprises more than 500 workouts from 18 content providers including Zumba and Gaiam.
What’s your Covid-19 exit strategy? How will you use this time to relaunch your business to thrive, not just survive
There is no escaping the fact that we are operating in extraordinary times. Our physical health clubs, gyms and studios are closed and we’re trying to keep our membership engaged, fit and healthy via online and digital training.
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We design, manufacture and install bespoke timber furniture, including lockers, vanities, bench se [more...]
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CATALOGUE GALLERY
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10-11 Jul 2020

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The Slate at Warwick Conferences, Coventry, United Kingdom
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Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2020

ABOUT LEISURE MEDIA
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