We present the largest investment rounds of companies specialising in the development of fitness software. In addition, we analyse the acquisition of the Spanish startup GymForLess by the quality of life services group Sodexo.
We present the largest investment rounds of companies specialising in the development of fitness software. In addition, we analyse the acquisition of the Spanish startup GymForLess by the quality of life services group Sodexo.
About Sodexo
Sodexo is a leading global Quality of Life Services company. The company offers catering services, facilities and holistic solutions to its customers that support performance and well-being.
Founded in 1966 in Marseille (France) by Pierre Bellon, the Sodexo Group has developed a unique expertise that today brings together 425,000 employees in 80 countries, enabling it to offer a complete range of more than 100 innovative services in 34,300 sites worldwide, with a turnover of €20.2 billion at the end of 2016.
The French Group develops, manages and offers a unique range of On-site Services, Benefit and Incentive Services and Personal and Home Services to improve the quality of life of more than 75 million users every day.
With more than 40 years of presence in Spain, Sodexo provides its services to more than 425,000 daily users, with more than 5,500 employees and 415 centres throughout the country.
About GymForLess
GymForLess is a Spanish startup that has developed a platform that allows users to compare prices of gyms, get discounts, and buy passes for single days for a single fee, with no limit on hours, permanence or enrolment.
Founded in Barcelona in 2014 by former Groupalia members Guillermo Llibre and Miguel Abadías, the company currently has a staff of 12 employees. Its G4L Club product, which already has 200,000 users (20,000 active), allows access to more than 1,000 gyms and sports centres around Europe for consumers and employees of companies. Its corporate channel represents 60% of its business.
Currently, Gymforless is present in Madrid, Barcelona and their areas of influence, as well as in the main cities of the country.
Sodexo buys GymForLess
Sodexo, the French business giant specialising in Quality of Life Services for companies to offer social benefits and incentives to their employees, has acquired the Spanish fitness startup Gymforless.
For GymForLess, the sale is not motivated by any specific objective. "A few months ago we were working on a financing round and we met Sodexo, who expressed their interest. They already work with gym passes in other countries and we thought that selling the company could be the best option for the project to grow and counteract the competition", explains Oriol Vinzia, CEO of the Catalan startup.
For Sodexo, however, the operation stems from Sodexo's desire to focus on innovative proposals that pursue employee satisfaction. For Miriam Martín, marketing and communication director of Sodexo BI, the purchase of this startup is a response to human resources managers looking to expand the portfolio of services to attract, motivate and retain their best talent.
Fitness Software investment analysis
| Inverter | Target | Description | Sector | Country | Amount |
|---|---|---|---|---|---|
| Verizon | Straight Path | Straight Path Communications has an extensive portfolio of 39 GHz and 28 GHz wireless network licences, and is developing next-generation wireless technology through its subsidiary Straight Path Ventures. | Network Operator | USA | $3.100M |
| WOW! Network | WideOpenWest Network operates more than 65,000 km of local and carrier-neutral network that it offers on its own private network. | Network Operator | USA | $225M | |
| AT&T | Vyatta | Vyatta is a Linux-based software platform that provides routing, firewall, intrusion prevention, anti-virus and WAN load balancing services. Provides an enterprise network routing, security and traffic management software solution that enables network administrators to leverage the performance of Intel/AMD hardware, as well as work in VMWare, Xen and Hyper-V virtual environments. | Network Security, Enterprise Software | USA | - |
| FiberTower | FiberTower Corporation is a provider of fixed wireless services. FiberTower is the leader in millimetre-band fixed wireless technology, also known as "wireless fibre". | Network Operator | USA | - | |
| SoftBank | Fortress Investment Group | Fortress Investment Group is an investment management firm that manages alternative assets in private equity, liquid hedge funds and credit funds for more than 1,500 institutional investors and private clients worldwide. | Private Equity | USA | $3.300M |
| Boston Dynamics | Boston Dynamics is an engineering company specialising in the development of dynamic robots and software for human simulation. | Robotics, Hardware, Software | USA | - | |
| Schaft | Schaft is a Japanese company specialising in the development of humanoid robots. | Robotics, Hardware, Software | Japan | - | |
| Telefónica | Statiq | Statiq identifies relationships between people and places over time, enabling digital marketers to make better informed decisions. It analyses variables such as where a person lives, works and visits to extract valuable information about their interests and lifestyle intentions. | Marketing, Big Data Analytics | United Kingdom | $4,2M |
| Airtel (India) | Tikona | Tikona Digital Networks (TDN) is dedicated to building the next generation of wireless broadband services for home and business customers in India. | Network Operator | India | ₹1.600M |
| Telenor India | Telenor serves more than 50 million people in India. It is part of the Telenor Group, one of the world's leading mobile operators with 214 million mobile subscriptions. | Mobile Telephony | India | - |