freebeat is a connected home fitness company that sells user-friendly indoor cycling bikes paired with a large library of gamified cardio classes and leaderboard-driven on-demand sessions. Its bikes are priced significantly lower than competitors while delivering professional-grade equipment. The platform offers thousands of classes led by experienced instructors from top cycling studios and includes features designed to incentivize continued use. The company reports a strong social presence with over 150K Instagram followers and a growing global community of influencers, brands, and media partners. freebeat plans further expansion into mass markets and will use recent funding to scale production, worldwide distribution, and research and development. It is headquartered in New York, NY. Freebeat develops connected exercise bikes that deliver interactive indoor cycling and crosstraining classes via an on-bike 22" HD touchscreen. The company's xbike is bundled with a smart dumbbell, frontend mechanical features and intelligent software that synchronizes with the system; it also uses sensors designed to avoid missed pedal readings and computer-generated special effects matched to class rhythm. The product is priced at $1,499 with a special launch deal at $1,199. Freebeat highlights gamification features that let users connect and compete with friends, plus smart class recommendations based on detected preferences and performance. The company operates manufacturing, production and assembly facilities in Asia to regulate product quality for its global customer base. Freebeat received $20 million in strategic funding from Susquehanna International Group and GSR Ventures and plans to use the proceeds to boost manufacturing and production. Management and founders are alumni of institutions including Stanford, Wharton, WashU, UC Berkeley and University of Toronto, with product team experience at companies such as SoulCycle and Morgan Stanley.

Total raised

$20M

Funding rounds

2

Latest round

Equity

Latest activity

Aug 2021