Amsterdam-based Funxtion secures €5.8M for its B2B smart digital fitness content platform

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Amsterdam-based Funxtion, a digital fitness content platform, announced on Thursday that it has raised €5.8M in a Series A round of funding. The investment came from Lexar Partners and current shareholders, with advisory from Beekers Capital.

Sander van Woerden, Founding Partner at Lexar Partners, says, “Funxtion are leaders in the digital transformation of the fitness industry worldwide, and the founders’ product and vision support our passion for investing in businesses that use innovation to help people live healthier lives. We support Funxtion in its plans to accelerate the innovation of its platform and grow 10x in the next few years.”

Beekers Capital, is a corporate finance boutique that offers capital raising and M&A advisory services for Benelux companies and investors.

Capital utilisation

Funxtion says it will use the proceeds to accelerate the innovation of its platform and fuel rapid international expansion.

Ernst de Neef, co-founder and CEO of Funxtion, says, “We believe that a hyper-personalised, omnichannel member experience is the future of fitness. With this funding we will invest in the intelligence of our platform by leveraging the power of data science, machine learning and AI, enabling our clients to provide personalised digital fitness experiences at scale.”

He further adds, “Funxtion’s platform is already being used by fitness operators in 27 countries around the world, but we believe that we could be supporting many more. With this funding, we will solidify our presence in our current markets and invest heavily in sales and marketing to move into new territories, like the US.”

Funxtion – a smart digital fitness content platform

Founded in 2011, Funxtion enables gym owners to scale up the personalisation of the digital fitness experiences of their members. The company, founded by fitness industry experts Ernst de Neef and Mendel Witzenhausen, currently supports fitness operators in more than 27 countries with its content platform and digital delivery solutions.

The platform includes built-in customisation tools and delivery device integration software, as well as collection of premium and white-labelled digital fitness content in the form of virtual courses, exercises, and training programmes.

Funxtion is used by gyms, hotels, wellness apps, and corporate businesses, and works with major brands, including Fitness First Germany, GoodLife Canada, PureGym UK, and Life Fitness Group Australia.

Brief about the investor

Founded in 2022 by Max van de Blaak and Sander van Woerden, Lexar Partners is an investment firm that offers growth capital to innovative software, technology, and e-commerce enterprises with an emphasis on enhancing people’s lives.

Prior to their recent collaboration, the founding partners have been involved in over 30 investments and 60 add-ons, including multiple companies with over €100M in revenues. Since its inception, Lexar Partners has accumulated three businesses in its investment portfolio that are involved in the digital transformation of mental healthcare, education, and fitness industries.

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Vishal Singh

Vishal Singh is a News Reporter and Social Media Marketing Lead at Silicon Canals. He covers developments in the European startup ecosystem and oversees the publication's social media presence. Before joining Silicon Canals, Vishal gained experience at the Indian digital media outlet Inc42, contributing to its growth with insightful content. Despite being a college dropout, his passion for writing has driven his career in journalism.

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