Fitness tech startup Hapana raises $17m from OIF Ventures, Bailador
Make us a preferred source
Make us a preferred source on Google
The news: Hapana, a software-as-a-service platform for gyms, group fitness studios and franchises, has raised $17 million in a funding round led by Australian venture capital firms OIF Ventures and Bailador.
The context: The Sydney-based startup said the funds will be used to expand its global footprint, cement its position in the Asia-Pacific region and grow its reach in the US. The raise will also support the launch of Hapana’s second-generation platform, designed to streamline user experience and enhance functionality for large franchise fitness brands.
Hapana’s technology manages memberships, payments, retention and loyalty for fitness brands. The platform is currently used by brands such as BFT (Body Fit Training), KX Pilates, Gold’s Gym, STRONG Pilates, UFC Gym, Club Pilates, F45, FS8, Vaura and Air Locker Training.
Hapana said that over a million fitness club members engage with its platform as part of their studio memberships, and more than half a billion dollars in payments were processed annually through the platform last financial year.
What they said: Hapana CEO Jarron Aizen said: "These funds will enable us to expand our go-to-market plans in the US and across the APAC region, facilitating the signing of more franchises and independent gyms."
"By providing these businesses with a holistic technology solution, we allow them to focus on what they do best, helping their clients achieve their fitness goals."
OIF Ventures partner Kevin Wilson said: "We have been closely following Hapana's journey and are deeply impressed with their execution and commitment to becoming the leading fitness management software for premium health and wellness clubs worldwide."
"During our diligence process, we spoke with numerous Hapana customers and consistently heard about the positive impact of their innovative solutions," Wilson said. "With this capital raise, we are confident that Hapana's robust product roadmap will further enhance their offerings and accelerate their growth."
The source: Hapana media release
