Google Ventures, the corporate venturing arm of internet company Google, is set to exit Us-based fitness video platform FitStar after it agreed to an acquisition by wearable technology provider Fitbit on Wednesday.
Founded in 2012, FitStar operates a digital health and fitness platform that offers personalised fitness videos for users on its app. Neither company disclosed how much Fitbit is set to pay in the transaction.
Post-acquisition, users will be able to track their activity each day with one of Fitbit’s wristbands and then receive a personalised exercise plan through FitStar, or they can publish their FitStar plan on Fitbit to see how it is benefiting their health.
FitStar had raised $5m prior to acquisition. Google Ventures participated in both its $1m seed round in 2012 and a $4m series A the following year. Advancit Capital, Trinity Ventures and Floodgate also invested in both rounds.
James Park, Fitbit’s co-founder and CEO, said: “FitStar has created some of the most popular and top-rated fitness apps in the world with a mission very similar to ours and a history of success.
“The addition of FitStar to our Fitbit family will allow us to offer a custom-fit experience based on personalised tracking data and also deliver on our promise of providing enhanced services and coaching.”
– Image courtesy of FitStar.