LegitFit closes €1m in seed funding to accelerate its UK expansion
LegitFit, the Irish-based gym and studio software company, today announces its closure of €1m in seed funding, led by Delta Partners.
Since launching in 2019, we are proud to have become one of the top management software providers for the fitness and wellness industry. Today we have customers spanning 15 different countries and 5-star ratings across all review sites.
Commenting on the announcement, our co-founder and CEO Ryan O' Neill explains: “This is a very exciting milestone for our company and our customers - some of whom are also investors. It has been a phenomenal year of growth for us. This funding comes as an added stimulus to support our ambitious business goals. We will continue consolidating our presence as leaders in the Irish market whilst progressing with our accelerated expansion across the UK".
We will continue consolidating our presence as leaders in the Irish market whilst progressing with our accelerated expansion across the UK. - Ryan O' Neill, Co-founder and CEO at LegitFit
The fast-paced and forever-changing fitness and wellness industry is expected to reach over €1.3tn by 2025. To support our customers to go further, we believe in building a platform that will save them time and boost their efficiency and revenue - all from one place.
Delta Partners is a venture capital firm that invests in early-stage startups in Ireland, and their General Partner, Rich Barnwell, commented on the most recent investment: "The customer-obsessed focus of the LegitFit team and their ability to build a product that delivers what fitness business owners actually need, in a complex and rapidly evolving industry, compelled us to invest. We have been impressed with Ryan, Gearoid and Ian, and we are excited to be joining their journey as they continue to progress and expand into new markets".
The customer-obsessed focus of the LegitFit team and their ability to build a product that delivers what fitness business owners actually need, in a complex and rapidly evolving industry, compelled us to invest. - Rich Barnwell, General Partner at Delta Partners
With this round of funding, we amount a total of €1.6m raised through the most varied investors profile. In 2021, our family, friends and customers supported our preceded round, and now we gladly receive this added Delta investment backed by Bank of Ireland, Enterprise Ireland, Fexco and others.
“Our ambition over the next 12 months is to double our customer base and explore other market opportunities - like franchises and chains", states our CEO. This remarkable milestone has also inspired Ryan O' Neill to look back and revisit the story of the company: "It's amazing that the seedling of an idea in college has rapidly grown into a strong business making real revenues. I think the best part is that we get the opportunity to help thousands of fitness and wellness professionals impact their communities and their own lives".
The best part is that we get the opportunity to help thousands of fitness and wellness professionals impact their communities and their own lives. - Ryan O' Neill, Co-founder and CEO at LegitFit
About Delta Partners
Delta Partners is a venture capital firm that invests in early-stage startups in Ireland, supporting entrepreneurs to build great businesses for over 30 years. With a track record of high-performing investments, Delta has invested in over 120 companies with exits generating €1.8bn. Their LPs include Enterprise Ireland, Bank of Ireland and Fexco, and the family offices of successful Irish technology entrepreneurs.
About LegitFit
We were founded in 2019 by Ryan O’ Neill, Gearoid Collins and Ian O’ Sullivan. LegitFit provides gyms, studios and independent fitness professionals with business management software that saves its customers up to €10,000 per year. Our core mission is to empower fitness entrepreneurs, to optimise their time so they can focus on what really matters to them - be that inside or outside the business.
Our platform manages the core aspects of running a fitness business including member management, scheduling, payments and communications. We also have more recently launched a website builder that helps its customers to attract and convert more inbound leads while ensuring costs for the creation of the site are manageable.
We are a client of Enterprise Ireland and were previously supported by accelerator programmes such as Ignite & Techstars. You can follow their journey here:
