Funxtion, an Amsterdam-based B2B SaaS digital fitness content platform, has raised €5.8M in equity capital from Lexar Partners and current shareholders.
The Dutch company will use the investment to accelerate the innovation of its platform and fuel rapid international expansion.
“We believe that a hyper-personalised, omnichannel member experience is the future of fitness. With this funding, we will invest in the intelligence of our platform by leveraging the power of data science, machine learning, and AI, enabling our clients to provide personalised digital fitness experiences at scale,” says Ernst de Neef, Co-Founder, and CEO at Funxtion.
Personalised digital fitness experiences
The company supports fitness operators in more than 27 countries with its content platform and digital delivery solutions. The Funxtion platform houses an ever-expanding library of premium and white-labeled digital fitness content in virtual classes, workouts, and training plans. In addition, it comes with built-in customisation tools and delivery device integration software.
The Funxtion platform is an open ecosystem that can integrate with membership management and other digital fitness applications.
“Funxtion’s platform is already being used by fitness operators in 27 countries around the world, but we believe that we could be supporting many more. With this funding, we will solidify our presence in our current markets and invest heavily in sales and marketing to move into new territories, like the United States,” adds Ernst.
Provides growth capital
Lexar Partners is an investment company based in Laren, the Netherlands that provides growth capital to leading innovative software, technology, and e-commerce businesses that focus on improving people’s lives.
“Funxtion are leaders in the digital transformation of the fitness industry worldwide, and the founders’ product and vision support our passion for investing in businesses that use innovation to help people live healthier lives,” says Sander van Woerden, Founding Partner at Lexar Partners.
“We are pleased to support Funxtion in its plans to accelerate the innovation of its platform and grow 10x in the next few years,” adds Sander.