Fit Tech Firm Sport Alliance Gets $100M for International Expansion
Serving fitness chains, franchise systems and independent fitness brands, Sport Alliance has received its second investment from PSG Equity
Sport Alliance, a sports-meets-tech software solutions company, has landed an additional $100 million growth investment from PSG Equity, a growth equity firm specializing in the international growth of software and tech companies.
The new funding follows a previous $65 million strategic growth investment led by PSG in Sport Alliance in August 2021. Sport Alliance reports that the initial investment has led the company to more than double revenues by way of “organic growth and four add-on acquisitions.”
The Hamburg, Germany-based Sport Alliance says it intends to take the sports and fitness training industry to the next level with cloud-based and digital software solutions. The software solutions company currently serves over 8,000 sports and health facilities clients, predominantly in Europe, with over 5.2 million gym members using its app solutions to access facilities digitally.
“I am incredibly proud of the great performance of the team at Sport Alliance and very pleased about the trust that PSG has in us,” said Daniel Hanelt, CEO of Sport Alliance. “It proves once again that our products and services offer exactly the solutions that the market needs and that we are making an important contribution to the digitalization of the fitness industry.”
Sport Alliance’s management software, ‘Magicline’ is what the software company believes gives it an edge. The enterprise resource planning product boasts member apps and integrated financial services such as Finion Capital and Finion FairPay, which manages member fees and debt collection, attracting clients such as the RSG Group (McFit, John Reed, Gold’s Gym), Clever Fit and Bodystreet.
“PSG’s investment once again encourages us to continue our success story beyond the German-speaking region in an international context,” Hanelt continued. “I am looking forward to the exciting future that lies ahead of us.”
Edward Hughes, managing director at PSG, noted that since partnering with Sport Alliance, there has been an “incredible trajectory of success.”
“We’re delighted to be deepening our commitment to Sport Alliance and look forward to seeing what the incredible team achieves next,” he added
