Notion et al. inject €2m into Glofox

The fresh capital will enable the company to expand its US-based team, where sales currently account for 40% of the company's total turnover, with the appointment of 12 new recruits.

Glofox will also invest in product development.

Earlier in March, Notion took part in a Holtzbrinck Ventures-led £10m investment round for UK digital documentation business Dealflo. The VC is currently investing from its third fund, which held a first close on $120m in July 2015.

The Glofox deal is Partech's first investment in the UK & Ireland region in 2017. Earlier this month, it led a £10.5m series-B round for French-American software business Akeneo alongside Alven Capital.

The VC held a €100m final close for its seed-only fund Partech Entrepreneur II in December last year, which makes investments of €300,000-1m. It also recently closed the late-stage technology-focused fund Partech Growth on its €400m hard-cap.

Company
Founded in 2014, Dublin-headquartered Glofox develops management software for independent gyms, and yoga and fitness studio owners. Its product enables business owners to manage class scheduling, membership, reporting, marketing and billing activities. The business also provides online and mobile platforms allowing customers to manage their accounts.

Glofox has a headcount of 28 and has 500 customers in 20 countries. According to a statement issued by the company, it has increased its revenues by an average of 33% per year since its first year of sales.

People
Notion Capital – Jos White (partner).
Partech Ventures – Boris Golden (principal).
Glofox – Conor O'Loughlin (CEO, co-founder).

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• UK / Ireland
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• Partech Ventures