US$200 million investment to benefit FreemotionMarch 03, 2020
A $200 million investment in iFit – the industry-leading, interactive fitness streaming platform – is poised to propel Freemotion Fitness to the forefront of connected fitness and will be on full display this year.
THE EXPERIENCE THAT KEEPS YOUR MEMBERS COMING BACK FOR MORE
A $200 million investment in iFit – the industry-leading, interactive fitness streaming platform – is poised to propel Freemotion Fitness to the forefront of connected fitness and will be on full display at IHRSA this month.
This significant capital investment by Pamplona Capital Management will allow ICON Health & Fitness – the parent company of iFit, Freemotion, and other leading brands – to further accelerate iFit’s rapidly growing interactive fitness platform in the connected club fitness industry.
Dan Toigo, Senior Vice President and Managing Director of Freemotion, is thrilled by what this investment means for Freemotion. “This capital raise puts Freemotion in a unique position to help operators connect the fitness ecosystem by joining the dots between the gym and home – subsequently, enhancing member attraction, retention, and revenue. This growth capital will allow Freemotion customers to offer their members iFit, the best connected-fitness and workout experience, through our content-driven equipment,” he said.
“Our iFit-powered machines are unlike anything else available on the market,” Toigo continued. “A member steps on one of our innovative cardio machines – like the fat-burning Incline Trainer, the impact-reducing REFLEX™ Treadmill, or the incredibly engaging CoachBike™ – selects from thousands of trainer-led workouts shot in exotic global locations or in-studio, and they are immediately transported to an engaging and energizing workout experience,”
Once a streaming workout is underway, iFit’s smart technology then auto-adjusts the speed, incline, decline, and resistance of the machine to mirror the on-screen training – allowing users to focus on their workout and enjoy a uniquely immersive experience.
With a diverse and comprehensive selection of more than 100 world-class coaches – including professional and Olympic athletes and celebrity trainers – iFit delivers training that can match each individual’s personality and fitness goals. iFit provides the ultimate solution to engage, motivate and inspire members to keep them coming back for more.
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ICON Health & Fitness is a global health and fitness leader and owner of iFit, NordicTrack, ProForm, Freemotion, and other fitness brands. Based in Logan, Utah, the 43-year old company has a multi-decade heritage of innovation, quality, and profitability. ICON and iFit currently hold more than 330 technology patents, with 80 pending, and its products are present in 116 countries. iFit workouts are streamed in English, French, German, Italian, Mandarin Chinese, Russian, Spanish, and Portuguese, with more languages planned for 2021.
For more than 20 years, Freemotion Fitness has been the global pioneer in fitness equipment and technology, introducing the world to cable-based strength training, the Incline Trainer, the first road simulating indoor bike, and is now leading the way in connected fitness. With science and innovation at its core, Freemotion questions how we work out in commercial fitness facilities, and then redefines it – creating products that deliver an unbeatable user experience and ultimately drive revenue for its partners.