VC firms invest in Freeletics

Causeway Media Partners, Jazz Venture Partners, Courtside Ventures, Elysian Park Ventures and Ward.ventures all took part in the financing. Terms of the deal were not disclosed but the investment was in the "high double-digit millions", according to German press.

Freeletics CEO Daniel Sobhani partnered with FitLab, a venture studio managed by former executives of Nike and New Evolution Ventures, to recapitalise the company and provide growth capital.

The company has approximately 30 million users, according to a statement. The fresh capital will be used to accelerate the company's global growth.

Mark Wan of Causeway and John Spinale of Jazz will join Sobhani on the board of directors.

Company
Freeletics was founded in 2013 and is headquartered in Munich. The business has developed mobile applications Freeletics Bodyweight, Freeletics Wear, Freeletics Running, Freeletics Gym and Freeletics Nutrition, which offer users support with different aspects of health and fitness. It currently employs 120 people.

People
Freeletics – Daniel Sobhani (CEO).
Causeway Media Partners – Mark Wan (managing partner).
Jazz Venture Partners – John Spinale (general partner).

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• Topics
• Expansion
• DACH
• Technology
• Germany
• Venture