The digital fitness industry is booming as a result of the pandemic. Investments continue to pour in for tech products that can accommodate an at-home fitness regimen, from D2C pilates equipment to AI-powered workout mirrors.
SF-based coaching app Future is the latest digital fitness company to win big financially. On Thursday the company announced the close of its $75 million in a Series C round led by SC Holdings and Trustbridge Partners.
The round also included investments from a few A-list celebrities including Fabletics co-founder Kate Hudson and NBA All-Star Kevin Durant.
Actor Oliver Hudson, Kate’s brother, also participated in the raise. As part of the investment, the two siblings plan to produce and host a podcast that highlights the brand, as well as general topics surrounding health and wellness.
“Fitness and wellness have been passions of mine for years and are at the heart of everything I’m doing with my businesses,” Kate Hudson said in a statement.
Unlike its peers in the digital fitness world, a majority of Future’s coaches have experience training professional athletes or Olympians, according to the company. For $149 a month, users gain access to coaches who can create interactive workout programs for them via the Future app. Coaches communicate with their clients every day via text to make sure they stay on track. Client progress is tracked via a company-issued Apple Watch.
“We’re delivering 1-on-1 coaching in a way that nobody else has ever been able to achieve. This will radically change consumer health,” CEO Rishi Mandal said in a tweet.
Given Mandal’s experience it’s clear that Future is in good hands. Mandal previously held leading positions at Google and NASA. His co-founder and CTO, Justin Santamaria, is a former Apple engineer who led the charge on essential iPhone functions like FaceTime and iMessage.
Future plans to use the fresh financing to accelerate its marketing and product development efforts. The capital will also support the company’s effort to surpass $100 million in annual revenue by early 2023.
“Fitness is only the beginning for us and we have big plans for the larger picture of personal health,” Santamaria said in a LinkedIn post.
In order to support its extensive plans for growth, Future is expanding the size of its team. The company is now hiring for 13 open positions spanning its engineering, operations and product teams, to name a few. Every position up for grabs is available to work remote.
