Private coaching company CoachUp has raised USD6.7m in its series A round, co-led by venture capital firms Point Judith Capital and General Catalyst Partners.
"We are pleased to continue to support CoachUp — we love the marketplace they are building. There's a significant opportunity for CoachUp to connect consumers with fitness professionals," says David Fialkow, managing director of General Catalyst Partners, both a seed and series A investor.
CoachUp helps connect athletes with private coaches, on the web and with iOS and Android applications. Since its seed round a year ago, the company has seen a 642 per cent growth in bookings and a 136 per cent growth in users.
In addition, the team hired key executives to accelerate growth: Gene Shkolnik, former senior vice president of product development at Kayak, joined as the company's chief technology officer; and Isabelle Plante, former head of marketing at Wahanda.com, joined as the company's vice president of acquisition.
The funds will be used to further build CoachUp's national brand presence, reach new customers and expand the product offering beyond team sports to include dance, yoga and fitness. In addition, CoachUp is exploring ways to integrate athletic facilities into the mix.
Sean Marsh of Point Judith Capital joins CoachUp's board of directors bringing e-commerce marketplace expertise.
"I first got to know Jordan and CoachUp as part of Mass Challenge, nearly two years ago, and I have been incredibly impressed with the extraordinary people he has recruited to his company since then. CoachUp is building a platform that serves the passion and need of every athlete to excel at their sport, which is resonating strongly across the consumer web," says Marsh.
Other new investors include Data Point Capital (founded by Scott Savitz, founder and former CEO of Shoebuy.com), Suffolk Equity Partners, (investors in Alex & Ani & Warby Parker), plus angel investors such as Paul English (co-founder & CTO of Kayak.com) and Albert Dobron (managing director at Providence Equity Partners). Current investor Breakaway Ventures (Dennis Baldwin, former CMO of Reebok) also participated in the round.
