Hybrid fitness platform FitLab has closed its US$15m Series A financing
FitLab will use the funding to scale its portfolio of brands
The company's brands include McGregor FAST, a fitness experience by UFC star Conor McGregor
FitLab plans to open its first wave of connected fitness studios during 2022
Hybrid fitness platform FitLab has closed its Series A financing, bringing total capital raised to more than US$15m.
FitLab will use the funding to scale its portfolio of brands, which will see it accelerate the opening of boutique fitness studios, launch new mass-participation events and develop new technologies designed to bridge the gap between at-home and in-club fitness.
The company's brands include McGregor FAST, the combat-focused fitness experience by UFC star Conor McGregor; XPT, a high-performance training system from Laird Hamilton and Gabby Reece; and Electric, a sports brand focused on performance eyewear, apparel and accessories.
FitLab's first wave of connected fitness studios will open during 2022, combining fitness tech – such as tracking and performance measuring – with an immersive, in-person training experience.
Each connected studio will also have an integrated, at-home offering and a live event series, providing members with a "rich and seamless fitness experience".
Plans are for 500 locations by 2025 and according to FitLab co-founder, Brian Kirkbride, the company already has partnerships in place for 250 locations in the US and plans for international development are currently underway.
"We saw a failure from the fitness industry to put the needs of members first," said Kirkbride.
"Even before the pandemic, the data showed that the future of fitness is clearly hybrid, and that has only accelerated.
"Consumers don't 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.
"They're forced to do that today, because that's how the industry is set up. Until FitLab, nothing was built from the ground up to provide truly holistic, immersive, connected experiences across the fitness continuum."
To strengthen its hybrid offer, FitLab has also recently acquired of at-home fitness app Fitplan and Ragnar, an event organiser specialising in running relay series.
California-based FitLab was founded in 2019 by Kirkbride and Brian Mike Melby – former Nike and New Evolution Ventures executives.
At the time, they said FitLab will "solve the siloed nature of fitness and leverage the power of iconic athletes and brands to inspire people to move – wherever, whenever and however they desire".