Software-as-a-Service based data pioneer for fitness and wellness services Motionsoft, announced it has successfully completed its latest funding round.
This round landed the service $17 million in new financing. Existing investors Edison Partners, Route 66 Ventures, co-founders Al and Hossein Noshirvani are among the contributors to this round. Motionsoft plans 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 Rick Auletta, Motionsoft CEO, in a statement. “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.”
It’s total funding haul since it was launched in 2004 is $59.7 million, according to CrunchBase.
Motionsoft uses technology and data to understand fitness club member behavior, reduce attrition and improve profits. Gyms, schools, hospitals, hotels, spas and corporations all use the service to retain its members. It’s customers include Gold’s Gym, Mayo Clinic, NASA and Equinox.
Photo: (Left to Right) Motionsoft co-founder and chairman Al Noshirvani, CEO Rick Auletta and CFO Tom Hopkins. Credit: Motionsoft.