Total amount raised
$61.5 Millions
Latest funding date
04/01/2020
Location
Aaptiv has successfully raised funding through multiple rounds, with its last known funding round occurring on April 14, 2020. The company has attracted a diverse group of investors, including Insight Partners and Warner Music Group.
As a digital health company, Aaptiv combines scientific programming, empathetic trainers, and uplifting music to enhance members' health. Keep reading to explore the intricacies of Aaptiv's fundraising journey and the investors backing this innovative platform.
What Is Aaptiv?
Aaptiv, founded in 2015 by Ethan Agarwal, is a digital health company based in New York, New York. The company operates within the fitness, health care, mobile, music, and payments industries.
With a team of 51-100 employees, Aaptiv offers a range of audio-based workouts guided by expert trainers and accompanied by motivating music. The platform has over 230,000 paying members who have completed more than 20 million classes since its inception. Aaptiv was acquired by PEAR Health Labs in October 2021.
How Much Funding Has Aaptiv Raised?
- Seed Round
- Amount Raised: $450K
- Date: February 2016
- Lead Investors: Pear VC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of the app and launch it to the market.
- Seed Round
- Amount Raised: $1.1M
- Date: May 2016
- Lead Investors: Outlander Fund I Archimedes
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the app's features and increase user acquisition.
- Series A
- Amount Raised: $12M
- Date: October 2016
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and enhance the app's capabilities.
- Series B
- Amount Raised: $26M
- Date: December 2017
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the user base and improve the app's technology.
- Series C
- Amount Raised: $22M
- Date: June 2018
- Lead Investors: Millennium Technology Value Partners
- Valuation at Round: $200M
- Motivation Behind the Round: To scale the business and enhance its product offerings.
- Series C
- Amount Raised: Not publicly disclosed
- Date: July 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling the business and enhancing its product offerings.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: April 2020
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand Aaptiv's new Enterprise channel, providing fitness classes via API to other platforms.
Total Amount Raised: $61.55M
Current Valuation: $200M
Key Investors
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm. They focus on growth-stage technology and software companies.
- Investment Focus Areas: Technology, software, growth-stage companies.
- Notable Investments: Twitter, Shopify, DocuSign.
- Millennium Technology Value Partners
- Details: Millennium Technology Value Partners is a venture capital firm that invests in technology companies. They focus on providing growth capital to companies with innovative technologies.
- Investment Focus Areas: Technology, growth capital, innovative technologies.
- Notable Investments: Not publicly disclosed.
- Outlander Fund I Archimedes
- Details: Outlander Fund I Archimedes is a venture capital fund. They invest in early-stage companies with high growth potential.
- Investment Focus Areas: Early-stage companies, high growth potential, technology.
- Notable Investments: Not publicly disclosed.
- Pear VC
- Details: Pear VC is a seed-stage venture capital firm. They focus on investing in early-stage startups across various sectors.
- Investment Focus Areas: Early-stage startups, technology, various sectors.
- Notable Investments: Not publicly disclosed.
- Amazon (via Audible)
- Details: Amazon, through its subsidiary Audible, is one of Aaptiv's investors. Audible integrates Aaptiv's fitness content into its platform.
- Investment Focus Areas: E-commerce, cloud computing, artificial intelligence, digital media.
- Notable Investments: Rivian, Deliveroo, Whole Foods.
What's Next for Aaptiv?
As Aaptiv looks to the future, the expansion of its Enterprise channel presents a significant opportunity. By providing fitness classes via API to platforms like FitReserve, Weight Watchers, and Audible, Aaptiv can tap into a broader market. The surge in usage during the pandemic underscores the potential for large-scale integration into corporate wellness programs, which could drive substantial growth.
With the company nearing profitability, future fundraising opportunities appear promising. Insight Partners' recent $9.5 billion fundraise suggests potential for continued support. However, Aaptiv will need to navigate challenges such as maintaining user engagement post-pandemic and balancing AI integration with human trainers to ensure a personalized experience.
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