Netpulse Fuels Growth with $13M in Expansion Capital
Posted: June 6, 2016 in Suppliers
Netpulse
SAN FRANCISCO, CA – Netpulse, a provider of mobile apps and technology solutions for health clubs, announced that it has raised $13 million to support its accelerating growth. The investment, led by August Capital and with participation from Javelin Venture Partners, Nokia Growth Partners and DFJ Frontier, will fuel Netpulse’s continued expansion as a market leader for mobile technology in the fitness industry.
“The first quarter of this year was an exceptional realization of many of the growth initiatives we’ve executed,” said John Gengarella, Chief Executive Officer of Netpulse. “We successfully introduced our first suite of mobile acquisition products, expanded into new regions around the globe and strategically accelerated a robust partner ecosystem. With Netpulse experiencing significant demand for the mobile technology to engage club members, the timing was right to raise growth capital and accelerate the deployment of these advanced products.”
The investment comes on the heels of a year of rapid growth at Netpulse, including a 450% increase in customers, the addition of experienced leadership both in the US and EMEA and the successful launch of Mobile Acquisition — new marketing features for the club’s mobile app that deliver the lowest cost to acquire a new member in the fitness industry.
“The Netpulse mobile platform has been adopted by many of the largest global players in the industry,” said Tom Proulx, Netpulse’s Chairman and the co-founder of Intuit. “They’ve demonstrated an ability to introduce innovative and effective digital solutions to an industry that’s ripe for innovation.”
Industry leaders such as Planet Fitness, Goodlife Health Clubs, UFC Gym and Gold’s Gym already leverage the Netpulse platform to power their mobile apps.
“While lots of fitness technology companies compete for consumers outside of the gym, no one even comes close to Netpulse inside the gym,” said Dave Marquardt, founding partner of August Capital. “They were the leader in bringing entertainment, workout tracking and virtual scenery to nearly all of the brands of cardio equipment, and now they are the clear leader in bringing a sophisticated mobile app to fitness clubs throughout the world.”
