Fortë Closes New Funding Round as Fitness Streaming Platform Continues To Grow
Fortë bills itself as the fitness industry’s only premium live and on-demand streaming white-label digital solution
Fortë has successfully closed another round of funding, which the live and on-demand streaming solution for gyms and studios will use to continue its growth.
The funding round, led by Elysian Park and The W Fund, included strong participation from Billie Jean King Enterprises, the Los Angeles Dodgers, SeventySix Capital, R/GA Ventures, How Women Invest, Mindshift Capital and Golden Seeds Venture Fund. Harvard Business School Angels and Golden Seeds Angels also participated.
Fortë founder and CEO Lauren Foundos confirmed to Athletech News that the company’s latest funding round was in the seven figures. Prior to this latest round, Fortë had raised $12.5 million.
“We are very excited to close a round of funding with strong institutional investors in this economic environment as valuations continue to slide, coupled with the Fed signaling more rate hikes ahead,” Foundos told Athletech News. “We have been working extremely hard to enhance our B2B, white-label video solution for gyms and boutique studios, and are gearing up to make a big announcement. Customer reception to this product has been extremely strong and we are seeing some of our strongest growth to-date in Q2 as it’s clear the omnichannel fitness consumer is here to stay.”
Fortë lists notable angel investors including Rosie Rios, former Treasurer of the United States, NSYNC’s Lance Bass, former NBA player Matthew Dellavedova and Reshma Saujani, founder of Girls Who Code.
The company also confirms that Allyson Kapin, partner at The W Fund, Chris Dey, managing partner at Commerce City and former president of the New York Islanders, and Tony Deluca, a Wall Street executive, will join Fortë’s board along with Foundos and SeventySix Capital partner Chad Stender.
Fortë, a B2B company that builds white-label branded digital experiences for clubs, boutique studios, sports leagues and teams, and digital fitness offerings, has worked with brands including UFC Gym, MyCurves On Demand, Under Armour and 305 At Home.
The company bills itself as the fitness industry’s only premium live and on-demand streaming white-label digital solution.
Fortë’s platform offers content from boutique fitness classes covering barre, boxing, dance, yoga, Pilates, jump rope, TRX, meditation, HIIT, Tai Chi, cardio and metabolic burn. New content is available every day for members.
To enhance membership growth, fitness businesses utilizing Fortë’s platform receive comprehensive monthly metrics highlighting which classes perform better live or on-demand as well as user feedback.
Fortë recently announced Holly Rilinger’s Lifted Method as a new partner after the meditation and strength training concept opened a new studio in East Hampton, N.Y. The Lifted Method is now delivered live with the assistance of the streaming platform, so fitness enthusiasts anywhere can enjoy a class.
The video streaming platform announced a partnership with tech company LiveLike earlier this year to enhance virtual workouts.
