FitLab Focusing on Hybrid Fitness: Acquires Electric, Fitplan, & Ragnar
The fitness platform says it will expand to over 500 locations by 2025
FitLab believes that hybrid fitness is the way of the future. The fitness platform has announced the completion of its Series A funding round, which raised more than $15 million, as well as the acquisition of Electric, Fitplan, and Ragnar. FitLab aims to connect studios, connected at-home experiences, and participation events.
FitLab intends to launch its first wave of connected fitness studios this year, with plans to expand to over 500 locations by 2025. The connected fitness studios will include at-home offerings as well as event series and FitLab says partnerships are in place for 250 locations in the United States with plans to expand internationally.
FitLab, based in California, plans to use the money to expand its global brands, accelerate the opening of boutique fitness studios, launch mass-participation events, and develop new fitness technologies. Investors in FitLab include Two Styx Capital, CAVA Capital, Snoop Ventures, Audie Attar of Paradigm Sports Management, and Courtney Reum of M13.
Founded by Brian Kirkbride and Mike Melby in 2019, FitLab recently introduced Conor McGregor’s FightLab.
“We saw a failure from the fitness industry to put the needs of members first,” said Kirkbride. “Even before the pandemic, the data showed that the future of fitness is clearly hybrid, and that has only accelerated. Consumers don’t want to look for a world-class, at-home offering, and find a studio or gym that they love, and then try to track down a challenge or event to motivate them to train – let alone pay separately for all of them. They’re forced to do that today, because that’s how the industry is set up. Until FitLab, nothing was built from the ground up to provide truly holistic, immersive, connected experiences across the fitness continuum.”
With the acquisitions of Fitplan and Ragnar, FitLab says it will bolster its fitness integration presence in the industry.
Fitplan, a fitness app that offers training, workout routines, recipes, nutrition, and advice, has more than 3.4 million users from around the globe.
“We are constantly searching for innovative companies that we believe add new strengths and capabilities to FitLab’s integrated platform,” Melby said. “Fitplan paved the way for the fitness creator boom we see today, and its roster of world-class trainers provides athletes around the world with democratized access to the biggest names in the game. Along with Electric, Ragnar, and the rest of our brands, Fitplan will leverage FitLab’s omnichannel strategy to better serve its users in more places and across an increasing number of training modalities.”
Ragnar, co-founded in 2004 by Tanner Bell, is an overnight running relay series with 100,000+ runners participating annually. FitLab says Ragnar’s expertise in mass participation events will help round out its vision.
“I am thrilled that Ragnar is joining the FitLab portfolio,” Bell said in a press release. “This union will accelerate Ragnar’s quest to bring moments of accomplishment and connection to athletes around the globe, no matter what their fitness interest. The best-in-class FitLab platform serves the needs of every athlete on their path to greatness.”
According to a recent report by TeamUp, hybrid and creative fitness solutions are two of the top trends for 2022.
