Another company is capitalizing on the stay-at-home fitness movement.
New York-based startup Talent Hack raised $4.7 million in seed funding for its brand-to-consumer fitness platform Spaces.
Unlike digital fitness giants like Peloton, Talent Hack doesn’t curate a front-end selection of classes for users. Instead, it provides software for fitness instructors and studios to deploy their services directly to customers.
Global Founders Capital led the funding round. Rick Stollmeyer – founder of wellness services software company MindBody — and a group of influencers that included Hannah Bronfman also participated.
Spaces launched in January 2019 and 50,000 fitness professionals have since signed up, according to TechCrunch. “Top earners” have made $250,000 using the platform, the company says.
“We are the first fitness and technology company that is a true partner for the individual wellness instructor,” CEO and co-founder Alexandra Bonetti said in a release.
Talent Hack plans to use the funding to boost marketing, consumer experience and recruiting efforts.
The global online fitness market size was estimated at $6.04 billion in 2019 and is projected to reach $59.32 billion by 2027, according to a report from Allied Market Research.