Genova, Italy-based Buddyfit, an app that offers personal trainers anywhere, anytime, announced that it has raised €10M in its Series A round of funding. The round was led by Milan-based Azimut Digitech Fund. Cairo Communication, RCS MediaGroup, and a number of undisclosed private individuals also participated in the round.
Helping people lead active lives
Founded in 2019 by Giovanni Ciferri, Stefano Manzoni and Stefano Cortese, Buddyfit is on a mission to make an impact on the lives of people by helping them take care of their physical well-being.
The company’s app offers a live workout session with a professional (personal trainer or sportsman) to follow along with other connected users also included in the session. Its fitness app is designed for everyone, including “from children to older and less active people.”
Buddyfit app was launched at the end of 2020 with football star Zlatan Ibrahimovic, who also became their global ambassador and partner. Besides Ibrahimovic, the company also has ambassadors including Diletta Leotta, a famous sports journalist, TV and radio host, and Federica Nargi, a TV host, actress, and mom.
Co-founder Giovanni Ciferri told Tech.eu, “Our goal is to help millions of people stay healthy while having fun. It is a mission that fills us with pride and motivates us every day, also seen in Western countries as individual wealth increases – absurdly – the rate of obesity and physical inactivity has grown over time. We started with fitness, but we have always had in mind to expand to other segments with the aim of becoming the reference service in the wellness field.”
The company also offers a “Buddyfit for Business” solution wherein a series of unique and innovative services are provided to both employees and administrators. It offers more than 1000 classes in live streaming with over 15 disciplines so that everyone can find the course they prefer. “Users will be able to interact directly with our personal trainers, and in case they have lost their favourite class, they’ll have the replay function available that allows you to retrieve the lessons at any time,” says the company.
Capital utilisation
The proceeds from this round will help Buddyfit in further developing its product as well as support its expansion plans, which started in September, 2021, when the company made its entry into the Spanish market. Besides, with already a team of 50 people, the company is looking to hire 50 new “buddies” by the end of 2023.
