US-based virtual exercise class provider Aaptiv has secured $22m in a series C round featuring e-commerce firm Amazon, conglomerate NWS Holdings and entertainment providers Walt Disney and Warner Music Group.
Growth equity firm Millennium Technology Value Partners led the round, which included 14W and Insight Venture Partners. Amazon participated through its Alexa Fund, and NWS Holdings is the holding company for infrastructure and services group NewWorld.
Aaptiv has created a mobile app that offers subscribers access to audio fitness classes that can be searched by trainers, duration or music type. It has secured more than 200,000 paying subscribers and its classes have been streamed a total of more than 14 million times.
Alexa Fund director Paul Bernard said: “Connected fitness is emerging as a compelling new domain for consumers. We are excited about Aaptiv’s voice-first approach to personal training, and look forward to helping them explore innovative ways to bring that experience to Alexa.”
The round took Aaptiv’s total funding to $52m and follows a $26m series B round disclosed in December 2017 alongside a $12m series A. Insight Venture Partners led both rounds, investing together with Arena Ventures, Pear Ventures and Switch VC.
Arena Ventures, Pear Ventures and Switch VC had all participated in the company’s $1.1m seed round in June 2016, back when it was still known as Skyfit. Pear Ventures, then called Pejman Mar Ventures, had led an initial $450,000 round five months before.