FitLab Raises Growth Capital, Announces Acquisitions Of Electric, Fitplan And Ragnar | SGB Media Online
Summary
Investors include Two Styx Capital, CAVA Capital, Snoop Ventures, Audie Attar of Paradigm Sports Management, and Courtney Reum of M13.The funds will be used to scale its global brands, accelerate the opening of boutique fitness studios, launch new mass-participation events, and develop technologies to that bridge the gap between at-home and in-person fitness.FitLab, Inc., based in Newport Beach, CA, was founded by former Nike and New Evolution Ventures executives Brian Kirkbride and Mike Melby in 2019.Through partnerships, proprietary development and a series of acquisitions, FitLab developed an integrated platform that includes McGregor Fast, the combat-focused fitness experience by Conor McGregor and his trainers; XPT, the training system from Laird Hamilton and Gabby Reece that combines its proprietary performance breathing with training and recovery methods; and Electric, an action sports brand focused on performance eyewear, apparel and accessories.We saw a failure from the fitness industry to put the needs of members first, said Kirkbride. Consumers dont want to look for a world-class, at-home offering, and find a studio or gym that they love, and then try to track down a challenge or event to motivate them to train let alone pay separately for all of them. The app allows users to track progress, connect with an online community and train with 50-plus athletes, coaches and trainers, like Mike OHearn, Michelle Lewin, Rob Gronkowski, Jen Selter, and Alex Rodriguez.We are constantly searching for innovative companies that we believe add new strengths and capabilities to FitLabs integrated platform, Melby said. Fitplan paved the way for the fitness creator boom we see today, and its roster of world-class trainers provides athletes around the world with democratized access to the biggest names in the game. This union will accelerate Ragnars quest to bring moments of accomplishment and connection to athletes around the globe, no matter what their fitness interest.