Sport Alliance, a Hamburg-based startup providing software solutions and services to gyms and fitness suites, announced today that it has secured €60M in a fresh round of funding from PSG.
The company says it enables the digitalisation of the health and fitness sector with a holistic solution that digitises all processes in a fitness studio and helps them engage with their members.
PSG is a growth equity firm that focuses on partnering with middle-market software and technology-enabled services companies.
Speaking on the development, Edd Hughes, Managing Director at PSG, says, “We want to further expand Sport Alliance’s market position in the DACH region. We believe that with our support, Sport Alliance has the potential to become a leading provider of mission-critical software solutions to gyms and fitness studios globally.”
Capital utilisation
The proceeds from this round will help Sport Alliance to accelerate its growth by expanding product development, strengthening go-to-market teams, and supporting international expansion, as well as through M&A activity.
Daniel Hanelt, CEO of Sport Alliance, says, “The fitness industry is undergoing even more change as a result of the pandemic than it was before. We already have a market leading position in the DACH region and now we want to take the next step and position ourselves globally as a technology driver for the industry. We are therefore very pleased, as we believe that PSG’s investment will help us achieve our ambitious goals.”
“In addition to expansion into strategic growth markets, staff expansion and continued product development are priorities going forward for the Group,” Hanelt adds.
“Tech meets sports”
Founded in 2011 by Daniel Hanelt, Sport Alliance specialises in software solutions revolving around gym management, financial services, and purchase management for fitness studios.
The company provides their services to fitness chains, franchise systems, and independent fitness providers to make gym management more efficient while also broadening digital access to sports and exercise for their members.
The company’s flagship product is the ‘Magicline’ app. It is a cloud-based all-in-one management software for the fitness industry and supports operators with optimising and digitalising their facilities. Currently, it has more than four million customers on its member app (according to the company’s website). The app is used by large studio chains including McFIT, Gold’s Gym, clever fit, and Bodystreet, among others.
Besides Magicline, the company’s portfolio also includes the booking portal and training app MySports, Bedarf.de, which specialises in the supply and purchasing management for fitness studios, as well as Finion and PAYDUE, two brands focusing on factoring and debt collection management.
The company currently counts more than 5,000 sports and health facilities among its customers in the DACH region and is operational in countries including Italy, Spain, France, the UK, and the US.
Brief about the investor
PSG is a growth equity firm that invests in growth-stage software businesses and the founders and management teams that drive them. The firm has already backed more than 80 companies and facilitated over 325 add-on acquisitions.
Founded in 2014, the firm claims to bring investment experience, expertise in software and technology, and a commitment to collaborating with management teams. PSG operates out of offices in Boston, Kansas City, and London.
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