MapMyFITNESS Secures $9M in Series B Funding Led by Austin Ventures and Milestone Venture Partners

Posted: June 5, 2012 at 2:14 pm


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Posted June 5, 2012

Leader in online and mobile fitness applications poised to accelerate growth through latest round of funding and new strategic business partnerships with Competitor Group, Inc. and run.com, the e-commerce platform for The Running Specialty Group, LLC

AUSTIN, Texas -- MapMyFITNESS, a health and fitness technology company powering the Internet's largest and fastest growing community of fitness enthusiasts, today announced $9 million in Series B funding led by Austin Ventures and Milestone Venture Partners. Strategic business partners Competitor Group, Inc. and The Running Specialty Group, LLC also announced their participation in the funding as part of larger business partnerships.

MapMyFITNESS is an online and mobile platform that helps over nine million active users plan workout activities, measure their fitness and track their progress both in real-time and over time. The company leverages a fast-growing business model that has doubled revenue each of the past four years and is projected to nearly triple in 2012. This investment will help MapMyFITNESS continue to advance its leadership position in the global online and mobile fitness application markets and further develop its offerings.

"Austin Ventures' continuing enthusiasm is a great validation of our success to date. We're also thrilled to leverage Milestone Venture Partners' unique expertise on healthcare technology services, and to deepen our business partnerships with Competitor Group and run.com, the e-commerce platform for The Running Specialty Group," said Richard Jalichandra, chief executive officer of MapMyFITNESS. "This Series B funding allows us to continue innovating and improving our tools for people of all levels to improve their fitness, nutrition and overall health."

"MapMyFITNESS has built the leading fitness activity tracking technology platform for consumers and enterprise alike," said Mike Dodd, partner at Austin Ventures and MapMyFITNESS board member. "The company has also proven its ability to build the business, with growth in audience and revenue far exceeding expectations."

"The connected health space is rapidly expanding, and the MapMyFITNESS team has established a solid early leadership position," said Todd Pietri, partner at Milestone Venture Partners.

"MapMyFITNESS' amazing growth of one of the largest audiences of runners, walkers, cyclists and active people has tremendous synergy with what we're doing at Competitor with events like the Rock N Roll race series," said Scott Dickey, president and chief executive officer at Competitor Group, Inc.

"The MapMyFITNESS team has created one of the most engaging utilities for fitness enthusiasts, one that complements what we're trying to do with our new website, run.com," said Ken Gart, President of The Running Specialty Group.

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MapMyFITNESS Secures $9M in Series B Funding Led by Austin Ventures and Milestone Venture Partners

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June 5th, 2012 at 2:14 pm

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