MapMyFITNESS, a Denver-based company that provides online and mobile fitness tracking applications, recently announced it raised $5 million in Series A financing led by Austin Ventures. The company said it will use this financing to consolidate its leadership position in the emerging global online and mobile fitness application market, further develop its core offerings, and push its brand deeper into a wide range of fitness categories.
In addition, following this financing MapMyFITNESS intends to move its corporate headquarters to Austin, Texas while continuing its presence in Denver. The dompany said that it is planning to aggressively expand and further build its web and mobile development teams in both locations in the coming months.
Founded in 2007, MapMyFITNESS offers a suite of websites and associated mobile applications including MapMyRUN.com, MapMyRIDE.com, MapMyWALK.com, MapMyHIKE.com, MapMyFITNESS.com, MapMyMOUNTAIN.com, and MapMyTRI.com. The company stated that it currently has more than two million members, who upload their fitness data via one of its mobile apps or websites at a rate of between 30,000 to 60,000 times each day. MapMyFITNESS' network of sites and mobile applications have recorded more than 15 million workouts recorded by its users.
"With smartphone proliferation, GPS enablement and cloud computing, tracking fitness is now at everyone's fingertips and is as easy as pressing "start" and "stop." "MapMyFITNESS saw this trend a few years ago and has built the leading brand and applications to address this opportunity across the most popular fitness verticals," said Mike Dodd, Venture Partner at Austin Ventures and MapMyFITNESS board member. "Their fitness data output is intuitive enough for anyone to understand and the social sharing of your fitness data is addictive and motivating." MapMyFITNESS' substantial user and traffic growth over the last 12 months validates that this category has mass market appeal as well as the Company's leadership position in this emerging category."
"We've been working to establish MapMyFITNESS as the premier fitness tracking and social network for active individuals and also provide those individuals with pioneering online and mobile fitness applications that can help them achieve their health and fitness goals," said Robin J. Thurston, MapMyFITNESS's CEO. "Our relationship with Austin Ventures and their relationships in these markets is great validation of our growth and success to date and the reception so many of our users have towards our company and its offerings. This funding gives us the opportunity to further drive the company forward down exciting and productive avenues in both the online and mobile fitness spaces."