Notion Capital, Partech Ventures, Tribal VC and Enterprise Ireland Back Glofox with €2M
The Irish government and some of the world’s top VCs have backed a small Irish startup set to take on the €79 billion fitness industry.
Founded by former professional rugby player, Conor O’Loughlin, Glofox is a platform where gym and studio owners can manage their members and classes more effectively. This covers everything from payments to reporting and add-on eCommerce.
Conor O’Loughlin explains: Since starting Glofox, there’s an idea we hear again and again from our customers: “I didn’t set up a fitness business because of my love for spreadsheets.”
On the surface, this is what we solve: we give gym and studio owners a platform for managing their business more effectively.
But in reality, we give them something more than that: Time. Time for the owners to focus on the real reason they started the business: improving health and fitness. And time for their customers who want to be able to quickly book a class then move on with their day.
This funding will help us give more time to more of these business owners, more globally and with more value than ever.”
How will we use the funds?
Already, 40% of our business takes place in the US. We will be investing further in our team there to give more customers more direct attention, with a base directly in their region.
Of course, that includes existing customers. We will be introducing new product enhancements and improving the way we are able to give them the best possible experience.
- 27% of the world’s population use some kind of health and fitness facility
- That market is growing by around 12-17% per year.
- 36% of current users prefer class based exercise.
This is a critical time of the growth of this market.
How much do we help fitness entrepreneurs?
Users of Glofox:
- Increase revenue by 33%
- Save 2 hours a day in admin time
- Drive member retention by 25%
What do SaaS experts see in us?
On the Notion Capital blog, Jos White explained a little as to why they chose to support us at this key time: “The latest generation of SaaS products are lovable. They have taken their cues from consumer apps and are optimized for mobile. They think well beyond the functionally and deliver a great user experience that drives engagement and retention.”
“Glofox very much falls into this category, something that is reflected in the levels of customer satisfaction, engagement and growth that the company is seeing.”
Boris Golden at Partech Ventures explained why they decided to support Glofox at this key time:
“We were instantly attracted to Glofox’s virtuous value proposition, making it possible for both fitness studios & their customers to focus on just one thing: improving health!”
“Furthermore, we’ve been very impressed by how efficiently Glofox is building a global customer base from Dublin, thanks to their superior product and light touch sales process. We are looking forward to using our transatlantic experience to support them in future growth.”
We are completely committed to making life easier for a very specific and narrow customer. If we can make those fitness entrepreneurs more successful, we can help improve the health and fitness of communities worldwide.
Glofox is a platform where gym and studio owners can manage their class-based business more effectively. The product covers member management, class scheduling, payments, reporting and ecommerce for the manager, customers and trainers. Glofox is a better way to manage health and fitness, for both customers and trainers.
Thanks to everyone who has supported us so far. We’re just getting started, and we know our mission will only grow in importance in the years ahead.
Glofox is the complete management software for gym, yoga and fitness studio owners who want to save time, increase revenue and drive member retention. The business was founded in 2014 by myself (Conor O’Loughlin), Anthony Kelly and Finn Hegarty. We have since grown to a team of 28, servicing over 500 customers in 20 countries.
The software itself provides automations that keep gym and studio owners in control of their business: from class scheduling and membership management right up to billing, reporting and marketing. Coupled with a branded Mobile App & Website Portal this ensures members can book and pay for services anytime, anywhere.
As a team we are on a mission to make fitness business management easier, giving business owners the tools to retain and grow their fitness community.
Source Glofox’s press release