The “AI-powered” fitness coaching app Freeletics, has closed $25 million in Series B funding. Leading the round is U.S.-based JAZZ Venture Partners and Causeway Media Partners, with support from KKCG.
The fresh injection of capital follows $45 million in Series A funding in late 2018. It will be used by the company to develop new tech, further expand globally and launch new business verticals.
The Munich, Germany-founded company’s self-described mission is to “challenge and inspire people to become the greatest version of themselves, both mentally and physically.”
Founded in 2013 and well-established in Europe, Freeletics has been steadily trying to conquer America since its Series A (the company was impressively bootstrapped until then).
The Freeletics app offers AI-powered fitness and mindset coaching, and has 48 million users in more than 160 countries, claiming to be the No. 1 fitness app in Europe with more than 600,000 paid-for subscriptions. The “personal trainer in your pocket” aims to help you train anytime, anywhere, with personalised training plans and workouts. Its algorithms learn from the app’s millions of users and the individual feedback they provide, with the goal of developing “smart” training journeys uniquely designed to suit different users in different contexts.