Motionsoft Closes $17M in New Financing
Posted: May 23, 2019 in Suppliers
ROCKVILLE, MD – Motionsoft, a pioneer of Software-as-a-Service for member-based organizations in the fitness and wellness markets, announced it secured a $17M round of financing. The round was funded exclusively by existing investors including Edison Partners, Route 66 Ventures, and co-founders Al and Hossein Noshirvani. The funds will be used to fuel the Company’s growth, further enhance its product offering and extend its leadership position in health and fitness industry.
“This new funding demonstrates continuing investor confidence in our company and the marketplace we serve,” said Motionsoft CEO, Rick Auletta. “Our focus over the coming years will be to capture a larger share of a growing world-wide market, deliver unparalleled levels of customer service, and provide our employees with a challenging and rewarding work environment. This funding will allow us to invest in the tools and resources needed to help our clients exceed their members’ expectations.”
Utilizing technology and data to understand member behavior, reduce attrition and improve profits has become an economic imperative for health and fitness operators. In an era of unprecedented growth, club operators are reevaluating their business strategies, focusing on the full life cycle profitability of a member rather than just the initial cost to acquire. Motionsoft’s proprietary member management SaaS platform is an industry leader in helping its customer Get, Know and Keep their members.
“Motionsoft has been changing the way gyms and fitness centers serve and support their members since 2004,” said Al Noshirvani Chairman and Co-founder of Motionsoft. “With the success of MoSo™ and MoSoClub™, this round of funding is well-timed to meet the growing demand of health and wellness facilities who want to take their companies—and their members—to the next level.”