NEOU, ‘Netflix of Fitness,’ Raises Funds From Investing Titans

Some Wall Street titans are betting the at-home fitness boom will far outlast quarantine life.

NEOU, a startup that describes itself as the “Netflix of fitness,” raised $5 million in fresh capital from investors including Ares Management Corp. Chief Executive Officer Mike Arougheti and David Flannery, a former GSO senior managing director. The round valued the company at about $40 million, CEO Nathan Forster said in an interview.

Named for the company’s mission to help create a “new you,” NEOU has raised $30 million since its 2015 founding. Existing investors including Bowers & Wilkins CEO Gregory Lee, and Fresh Direct LLC co-founder Jason Ackerman contributed to the latest round. New funds will be used to expand its offerings to attract new… READ MORE @ Bloomberg