PRESS RELEASE
Virtuamgym Closes €6 Million Series B Investment Led by Endeit Capital
AMSTERDAM, THE NETHERLANDS, May 23rd 2018 - Virtuagym, provider of a cloud-based fitness software platform and mobile apps, announced it has closed a €6 million Series B financing round led by growth investor Endeit Capital, to fuel international growth of the company.
Founded by two brothers, Paul and Hugo Braam, Virtuagym has grown from a single-room start-up to a scale-up with over 200 employees and offices in Amsterdam, and Medellín, Colombia. The company serves businesses in the fitness space in over 80 countries worldwide, including the United States and key European markets. 
Virtuagym will use the new funding to develop new innovations, strengthen their market position in both Europe and the Americas, while fueling further expansion in new vertical markets, such as yoga, martial arts, and dance studios.
"Technology is gaining momentum in the health and fitness industry," says Hugo Braam, CEO of Virtuagym. "As a front-runner in the space we've been promoting technology for over a decade now, and it's great to see the market finally shifting."
“We are delighted to have Endeit Capital joining us. They have a strong track-record in scaling tech businesses internationally and are also experts in the areas of software and content. With their support and this new round of funding, it will help us to accelerate our international roll out and to keep investing in innovation to maintain our position as the industry innovator."
"Technology is transforming the way consumers interact with health and fitness clubs as well as their professionals and we believe that Virtuagym is uniquely positioned to tap into this,” said Hubert Deitmers, co-founder and Managing Partner of Endeit Capital.
“With their innovative and wide-ranging solutions for health clubs, trainers and studios, Virtuagym has achieved significant traction both in Europe and the US. in this huge and growing market. This, combined with its founders' vision and the company's ambitious outlook on product development, convinced us to assist Virtuagym’s roll out and build a category leader.“
About Virtuagym
Virtuagym provides an innovative fitness software platform for member engagement, coaching and club management. The platform consists of a complete ecosystem with integrated mobile apps with solutions for exercise and nutrition guidance, progress tracking, online coaching, member and staff management, scheduling, online sign-up, payments, access control and more. Furthermore, it includes a wide array of connections with a variety of partners to enable clients to connect their entire business to the system.
With 200+ employees and offices in Amsterdam, Netherlands and Medellín, Colombia, Virtuagym supports more than 11 million consumers, over 4,500 health clubs and 25,000+ trainers worldwide, including fitness chains Basic-Fit (NL), Xercise4Less (UK), various YMCA’s (USA), and XSport (USA). For more information, please visit www.virtuagym.com or contact Pieter Verschuren (pieter@virtuagym.com +31-20-7165216 ext 235).
About Endeit Capital
Endeit Capital, founded in 2006, invested in about 30 European internet scale-ups to date. Its focus is on pan-European "Connected Consumer" firms in digital media/marketing, adtech, ecommerce and enterprise services, actively supporting them to become leading international players in their industries. With offices in Amsterdam (NL) and Hamburg (DE), Endeit Capital has investments in 6 European countries, being Germany, Austria, Switzerland, UK, The Netherlands and Belgium.
Some latest investments have been Chronext (DE, platform to buy and sell luxury watches). TourRadar (AU, multi-day travel booking platform), Gastrofix (DE, cloud-based hospitality POS systems), Blis (UK, location data marketing platform), Roamler (NL, crowdsourcing) and RIAKTR (BE, big data apps). Some recent successful exits are Contorion (DE, order platform for industrial tools, to Hoffmann Group), Unruly (UK, advertiser video engagement platform, to News Corp) and Metrixlab (NL, online market research platform, to Macromill).
For further information, please visit www.endeit.com or contact Wendy Horlings (wendy@endeit.com +31-20-7947777).