FitLab is a multi-brand fitness company that operates a fully integrated platform designed to solve the siloed nature of the fitness industry. The company integrates multiple channels of the fitness ecosystem to deliver immersive experiences for members anytime, anywhere, and however they train. Using capital from the recent financing, FitLab acquired a fitness equipment manufacturer to further integrate its customers' fitness journeys. The company is ramping boutique fitness studios and has a partnership with a best-in-class global brand, which Atlas cited as complementary to the acquisition. FitLab received a $65 million Strategic Financing Facility from Atlas Credit Partners, with roughly $35 million funded at closing and $30 million of remaining availability. Billings & Company and Compass Point served as FitLab's financial advisors on the strategic acquisition financing. FitLab operates a hybrid fitness model that blends in-person training and at-home offerings, and is rolling out “connected fitness studios” to support that approach. The company says it will begin studio rollouts this year and is planning 250 U.S. locations with more internationally, targeting 500 locations by 2025. FitLab was founded in 2016 as a venture firm focused on sports and fitness and has since partnered with and acquired fitness brands including McGregor FAST and XPT. Recently it acquired the Fitplan app, sports apparel company Electric, and running-events organizer Ragnar to expand its portfolio. Financially, FitLab has closed a Series A funding round and says its total capital raised is now more than $15 million; the company did not disclose the exact size of the latest round.

Total raised

$80M

Funding rounds

2

Latest round

Debt Financing

Latest activity

Mar 2024