Demand for workout supplements is growing, and companies are finding new ways to reach customers.
This week, startup Gainful — which offers personalized subscriptions for protein powder blends and hydration products — raised $7.5 million in Series A funding.
The round was co-led by BrandProject and Courtside Ventures, with participation from AF Ventures, Round13 Capital, Barrel Ventures and the founder of Polaris Sports.
Gainful, whose subscriptions start at $39, has seen a boost in interest during the pandemic, citing a shift toward e-commerce and a new recognition of the benefits of a healthy lifestyle.
Eric Wu, chief operating officer and co-founder of Gainful, says the four-year-old company plans to continue its move beyond protein, adding more new products and flavors.
Wu and co-founder Jahaan Ansari met playing soccer in high school. “We really believe that we’ve created a system of products that all have complementary benefits,” Wu said.
The pre-workout supplement market is expected to reach $23.8 billion by 2027, according to a 2020 report from Grand View Research. Powders have the largest market share, while ready-to-drink options are projected to be the fastest-growing segment.
