Wellness apps are having a moment, and Aaptiv is helping lead the charge. The company just raised $22 million in Series C funding.
This brings the startup’s total funding amount to $52 million, which is especially noteworthy considering it was founded just two years ago. The announcement points to investors’ confidence in companies making fitness and health more easily accessible.
“Closing this round is a tremendous moment for Aaptiv as we continue to lead the industry with our innovative technology and world-class product,” said CEO and Founder Ethan Agarwal. “The digital wellness content market is rapidly growing as health and wellness becomes a bigger priority in many people’s lives.”
The digital wellness content market is rapidly growing as health and wellness becomes a bigger priority in many people’s lives.”
Local companies like ClassPass and Peloton, as well as a number of startups outside of NYC, are finding success as a result — and it’s one of the reasons why Built In NYC featured Aaptiv on our 50 Startups to Watch in 2018 report.
The company produces audio-guided fitness classes for its 200,000 members, who have unlimited access to a diverse set of workouts. Each program is created by a certified Aaptive trainer.
Millennium Technology Value Partners, 14W and Insight Venture Partners contributed to the Series C round. A number of strategic investors, including Amazon Alexa Fund and Disney also participated, signaling that big video enhancements could be on the horizon.
“We are most excited by how fast Aaptiv has established itself as a category leader in the wellness and fitness space,” Ray Cheng, partner at Millennium, said in a press release. “The company's growth and user engagement metrics over the past two years are some of the best we have seen, and we believe a large opportunity awaits as Aaptiv continues deliver the best in class workout experience.”