An award-winning hybrid studio and digital fitness platform BLOK has received £3.75 million in funding. The financing round was led by ACF Investors along with additional investment from Elcot Capital and The Santon Group.
New hybrid fitness model
The funding round also includes investment from the UK government’s Future Fund, Crowdcube and angel investor Rob Wirszycz. BLOK will use the proceeds of this round to build upon its new hybrid model, which combines in-studio, at-home and at-office programmes, all linked through a single digital platform.
Commenting on this latest investment, Founder and CEO Ed Stanbury said: “BLOK began in an empty warehouse and since then, we’ve grown to three sites across the UK and have rolled out a comprehensive digital platform, which has experienced very strong growth. As people’s approach to fitness has changed in the last two years, our new hybrid model caters directly to customers’ growing demand for personalised fitness and wellbeing, accessed from anywhere. This investment will accelerate our growth plans and allow us to bring our ground-breaking hybrid on-off line services to a bigger audience.”
George Whitehead, Partner at ACF Investors commented: “BLOK is meeting the demands of a post-pandemic fitness world head-on. Its hybrid model ensures customers are given a wealth of choices to support their wellness, both at home and in its physical studios offering the kind of flexibility people need to adapt to hybrid working and the increasing demands on everyone’s time. BLOK seamlessly brings together fitness, art and design and we are delighted to be supporting them to reach more people than ever with BLOK’s truly holistic fitness offering”
Appoints new executives
To facilitate this strategic move, BLOK is making a number of key additions to its management and sales teams and continues to invest in its tech platform. Also, it announced that Rob will join BLOK as the Chairman.
Rob Wirszycz, angel investor and Chairman of BLOK said: “I am delighted to be joining BLOK as Chairman and supporting this funding round. I believe the team at BLOK have created the hybrid offering and design-led approach that meets the new demands for physical and mental wellbeing. I’m excited to be joining them for the next stage of their journey to scale.”
Sustainable, balanced approach to fitness
Founded in 2016 by Ed Stanbury, Reema Stanbury and Max Oppenheim with a focus on promoting a sustainable, balanced and multidisciplinary approach to fitness, BLOK’s studios combine fitness, art and design all under a single roof.
Notably, the company specialises in Cross Discipline Training. As a result, it provides benefits such as increased fitness, improved mental clarity and creativity to reach peak performance, prevention from getting bored, decreased risk of injury and the ability to meet the body’s ever-changing needs.
Having grown to be a global fitness brand, the boutique studios host more than 500 classes a week in beautifully designed spaces across London and Manchester. Also, it hosts classes in its online fitness platform BLOKtv.
In May 2020, BLOK rolled out its digital offering, BLOKtv, which produces over 500 videos to meet the demand for physical and mental wellbeing during the pandemic. BLOKtv grew by 35% month-on-month in its first year. Also, it has produced a series of Instagram live classes in partnership with Beats by Dre. Currently, BLOK offers over 200 live fitness classes every month.
BLOKtv offers three different packages for users. There is a 14-day trial that is available for free of cost. The BLOK studio pricing starts from £15 a class or from £147 a month for unlimited classes on a annual membership.