Total amount raised
$34.5 Million
Latest funding date
01/01/2024
Location
Paceline has successfully raised funding over three rounds, with the latest being a Series A round. The company is backed by 13 investors, including notable names like PGV and Mark S. McCombe.
Paceline's innovative platform rewards physical activity with financial benefits, making it a unique player in the wellness industry. Keep reading to explore the intricacies of Paceline's fundraising journey and the investors backing this promising platform.
What Is Paceline?
Paceline is a health and wellness platform that rewards physical activity with financial benefits. The company operates in the financial services, fitness, and health care industries. It is based in San Francisco, California, and has a team of 11-50 employees.
Founded to incentivize healthy living, Paceline connects with fitness trackers to monitor users' physical activity. By maintaining a streak of 150 minutes of elevated heart rate per week, users can unlock various rewards. The company also offers a cashback credit card that provides additional financial incentives for maintaining a healthy lifestyle.
How Much Funding Has Paceline Raised?
- Seed Round
- Amount Raised: USD 5,000,000
- Date: November 2020
- Lead Investors: Montage Ventures, Propel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial development and launch of Paceline's health and wellness platform.
- Series A Round
- Amount Raised: USD 29,500,000
- Date: June 2021
- Lead Investors: Acrew Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team, enhance the rewards program, and roll out a full embedded financial platform.
- Series A Round
- Amount Raised: Not publicly disclosed
- Date: January 2024
- Lead Investors: PGV
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale the platform and enhance user engagement.
Total Amount Raised: USD 34,500,000
Current Valuation: Not publicly disclosed
Key Investors
- PGV
- Details: PGV (Punja Global Ventures) is a major investor in Paceline. They led the Series A funding round in January 2024.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
- Acrew Capital
- Details: Acrew Capital is a venture capital firm that led Paceline's Series A funding round in June 2021. They focus on early-stage investments in technology companies.
- Investment Focus Areas: Technology, early-stage investments.
- Notable Investments: Chime, Exabeam, Pie Insurance.
- Montage Ventures
- Details: Montage Ventures is a major investor in Paceline, participating in the Seed round in November 2020. They are known for investing in early-stage companies.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
- Propel
- Details: Propel is another key investor in Paceline, also participating in the Seed round in November 2020. They focus on supporting innovative startups.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
- Mubadala Capital
- Details: Mubadala Capital is the asset management subsidiary of Mubadala Investment Company, a sovereign wealth fund of the Government of Abu Dhabi. They participated in Paceline's Series A round in June 2021.
- Investment Focus Areas: Technology, healthcare, real estate.
- Notable Investments: Waymo, Medallia, EMI Music Publishing.
What's Next for Paceline?
Paceline stands at the cusp of significant growth opportunities. With a successful Series A round, the company is poised to expand its team, enhance its rewards program, and develop a comprehensive embedded financial platform. These steps are crucial as the health and wellness industry continues to grow, driven by an increasing focus on incentivizing healthy lifestyles.
Future fundraising opportunities seem promising, given the company's strong performance and ambitious plans. However, challenges such as competition from other wellness platforms and maintaining user engagement could pose hurdles. Successfully integrating financial services will be key to sustaining long-term growth and attracting further investment.
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