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
Funxtion was founded in 2011 by Mendel Witzenhausen and Ernst de Neef. The company provides members of fitness centers worldwide with digital experiences that are tailored to their needs. By doing this, the company allows fitness centers to provide these experiences on a larger scale.
The startup’s content platform offers white-labeled and premium digital fitness content. Its library is constantly growing and can be customized with the included tools. It also has device-specific integration software to deliver its classes and workouts. Funxtion’s platform supports fitness operators in over 27 countries with these services.
Funxtion’s platform is a open-ended system that allows other fitness apps to be used in conjunction with their membership management system.
Their platform is used by fitness businesses in 27 different countries around the world. However, Ernst believes they could support many more users. With this funding, they will focus on stabilizing their presence in current markets while investing heavily in sales and marketing to expand into new territories like the United States,” says Ernst.
Growth Capital
Lexar Partners is a investment company located in Laren, the Netherlands. They provide funding to software, technology, and e-commerce startups that create revolutionary new products that improve people’s lives.
Sander van Woerden, a partner at Lexar Partners, says their passion for investing in businesses comes from the founders of Funxtion who are leading the digital transformation of the fitness industry across the world.
Sander adds that Funxtion’s plans to grow their platform 10x in the next few years motivated the company to support them.
