• Loading stock data...
Tuesday, November 5, 2024
The Best Employers in Sports survey is open through Nov. 6 Learn More

Q&A: CLMBR CEO Avrum Elmakis Talks Reimagined Fitness Category

  • CLMBR has secured both celebrity investors and ran a successful crowdfunding campaign.
  • The connected climbing machine is expected to ship in the middle of 2021.
CLMBR
CLMBR

CLMBR is about six months away from shipping its connected climbing machine and at least a few weeks away from closing out the startup’s Series A round of funding that already includes Pitbull, Jay-Z and Novak Djokovic.

Beyond the traditional start-up fundraising route, CLMBR is also the latest fitness company to utilize crowdfunding. Its Indiegogo campaign, launched on Dec. 2, has already surpassed $700,000, more money raised by either Peloton or Hydrow in a week’s time.

Serial entrepreneur Avrum Elmakis, founder and CEO of CLMBR, spoke with Front Office Sports about its multi-pronged approach to landing investors, how he came up with the idea for the product, and using crowdfunding to market the equipment, which is a modernized version of the venerable VeraClimber from decades ago. 

Front Office Sports: You’ve got some big-name investors already. What has attracted them to your upstart?

Avrum Elmakis: Why we are bringing in the level of talent that we have, is that it’s authentic to them. They’ll actually use it. They’re purposeful in what they’re investing in because they’re concerned about the longevity of their bodies. … We are very well capitalized. We have way more interest than we have room for investors.

FOS: The VersaClimber has been around since the 1980s. It had a bit of resurgence a couple years ago, but that’s flattened out. Take us through how CLMBR came about.

AE: I was introduced to climbing on a VersaClimber in early 2018 at a local boutique gym in Denver. What I realized very quickly was, ‘Wow.’ I’m a triathlete, so lots of running, biking and swimming. I was like, ‘You know, this is an incredibly efficient, interesting modality.’ It has never been popularized. It kind of exists in the back of the gym. A lightbulb just clicked on for me.

FOS: Beyond your celebrity and VC backing, you also just launched an Indiegogo with many getting dibs on an at-home CLMBR for $1,999, 60% of the retail price. Why’d you decide to do crowdfunding? 

AE: I absolutely love those platforms because they have an audience that is interested in the latest and greatest disruptive technology. It’s also very common. Whether we’re talking about Peloton or Hydrow, they kind of start out that way.

Social Exercise Sharing App Strava Raises $110 Million

Strava — particularly popular among runners and cyclists — says it has…
November 16, 2020

FOS: Peloton has been both the plaintiff and defendant in cases of alleged patent infringement in proceedings with competitors like Icon Health & Fitness (the parent of NordicTrack and ProForm) and Echelon. Are there any intellectual property concerns related to VersaClimber?

AE: No. What’s really exciting for us is that VersaClimber had one patent filing and that patent expired in 2002. We feel comfortable in saying that we’ve got a significant portfolio of IP around our machine and the modality of vertical climbing.

FOS: What would be a successful launch of CLMBR as far as units sold in your first year? 

AE: The market is speaking to us in real time [via the Indiegogo campaign] agreeing with the value proposition around the fact that it is time for something. To specifically answer your question, do we want to sell a thousand units, 10,000 and 50,000 units? We are going to look at this campaign to better formulate what that looks like, but I would say many thousands of units will likely ship based data.

FOS: Since this is the kind of product most have never come across, I’d think demos would be huge in terms of introducing people to CLMBR. What do you have planned as far as rolling out demo units around the U.S.?

AE: It will be a combination, everything from partnerships with world-class gym locations that will serve as demo sites. We are going to be working with the companies b8ta and Showfields. Both have storefronts that display innovation. We believe people will be out shopping again in May, June and July next year. We are in the process of having conversations with many national retailers, but haven’t finalized anything yet.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Vanderbilt Commodores fans head to the south end zone as the goal post is taken down by exuberant fans after beating No. 1 Alabama 40-35 at Vanderbilt Stadium in Nashville, Tenn., Saturday, Oct. 5, 2024.
opinion

Something New in College Football This Year: Parity

Upsets, surprises. CFB is more fun on the field than the NFL.
Sep 28, 2024; Tuscaloosa, Alabama, USA; GOP Presidential candidate Donald Trump waves flanked by former Georgia Bulldogs player Herschel Walker, recording art Kid Rock, professional golfer John Daily, Alabama senators Tommy Tuberville (R) and Katie Britt (R) during the second half of the game between the Alabama Crimson Tide and the Georgia Bulldogs at Bryant-Denny Stadium.

Mission Swing State: College Football’s Political Advertising Battle

Trump, Harris, and the PACs that support them are utilizing the sport.

The Untapped Revenue ‘Powder Keg’ of Women’s NFL Fandom

There’s a “boatload” of money at stake for brands and the league.
Peloton Bike

Peloton Earnings Beat Expectations As It Still Loses Subscribers

Peloton tapped Peter Stern, former Ford executive and cofounder of Apple Fitness+, to be its new CEO.
podcast thumbnail mobile
Front Office Sports Today

Surprising Start to MLB’s Offseason

0:00

Featured Today

Oct 19, 2024; Gainesville, Florida, USA; Florida Gators quarterback DJ Lagway (2) shakes hands while entering the locker room after a game against the Kentucky Wildcats at Ben Hill Griffin Stadium.
October 28, 2024

NIL Director Is the Trendy New Job in College Sports. But the Role Is Chaos

Athletic departments nationwide are hiring for what’s become their most important position.
FuboTV signage
opinion
October 26, 2024

Fubo’s Fight Against Streaming Giants Feels Futile

Fubo notched a legal win, but subs and stock still slump.
October 25, 2024

Inside The Wall at L.A. Clippers’ New $2B Home

FOS went inside the “contagious” energy at the L.A. Clippers’ Intuit Dome.

Under Armour Sells MapMyFitness Back to Founders 11 Years Later

The founders sold the tracking app to the apparel giant in 2013.
August 13, 2024

Federer’s On Brand Continues Surge, Challenging Sportswear Giants

Earnings weren’t all positive for On, causing a dip in its premarket stock price.
A view of a Nike retail store in New York City.
August 15, 2024

Nike Shares Surge As Bill Ackman Invests, Igniting Turnaround Hopes

The billionaire hedge-fund executive holds significant influence in the market.
Sponsored

World Series Delivers High-Demand Marquee Matchup

The hype around the World Series matchup drove ticket prices to record levels—but the Dodgers’ dominance quickly quieted the fervor.
Peloton
May 2, 2024

Peloton Timeline: CEO Changes, Layoffs, Recalls, and Falling Stocks

The company has fallen from grace after roaring success in 2020.
October 18, 2023

Peloton To Bring Live Sports To Its Fitness Devices

NBA League Pass will be available to watch on Peloton devices.
August 10, 2023

Alternative Golf Venues Thriving ‘Off-Course’ By Attracting Younger Players

In 2022, 15.5 million people participated in off-course golf activities. 
Nike's group fitness studios follow its Netflix workout streaming deal.
August 3, 2023

Nike Leans Into In-Person Fitness As Lululemon Cuts Back

With fitness classes already on Netflix, Nike now plans in-person studios.