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Motosumo secures a third round of investment for their revolutionary cycling and group-fitness app

Press release   •   Feb 07, 2019 07:00 UTC

Kresten Juel Jensen, CEO and Co-founder of Motosumo (PR photo, Motosumo)

Investors include Promentum Equity Partners, Vedere Ventures, Pre-Seed Ventures, and business angel Niclas Bönström, founder of Mrs. Sporty. This recent round of funding comes on the heels of a partnership deal with Core, one of the world’s leading manufacturers of fitness equipment.

Motosumo, a Copenhagen-based fitness tech startup, has a secured a third round of investment to continue financing their growth. The Motosumo app brings advanced analytics and fun gamification features to both indoor cycling classes and other group fitness workouts, without the need for expensive equipment. The app works on any bike or other equipment for group workouts thanks to its use of motion detection algorithms.

The investment shows continued faith in the success of the app – loved by instructors and users alike – and is underscored by Motosumo’s recent partnership with Core. The fitness equipment giant has pledged to train 10,000 instructors a year to use the Motosumo app in group classes around the globe.

According to Motosumo’s CEO, Kresten Juel Jensen, this latest capital injection is a sign that Motosumo delivers on its growth plan, as they gear up for a planned series A in a not too distant future.

“This third round of investment exceeds the original commitment from our investors. We see that as a sign of confidence in our product and it shows that they’re ready to go the extra mile to support our international growth.”

Motosumo’s growth is already in full swing. “We’ve just added another six members to our team,” says Kresten. “It’s a fantastic opportunity to grow not just our tech skills and product development, but also our efforts in sales, marketing, and communications. All of which are vital for spreading the news of Motosumo as a disruptor in the fitness market,” adds Kresten Juel Jensen.

Motosumo’s advanced tech, easy-to-use interface, and almost instant setup time has been a hit with gyms, particularly as an instructor tool for group classes. The gamification features also help it stand out in an increasingly digitalized fitness industry.

Nana Bule, chairperson of the board at Motosumo and COO at Microsoft Denmark, agrees: “We have great confidence in the team and their ability to go global with the added capital and the partnership with Core, which is a strong testament of the innovation Motosumo brings to the industry”.

Further information

Kresten Juel Jensen, CEO, Motosumo, +45 40 13 64 71, kresten@motosumo.com

About Motosumo

Based in Copenhagen, Motosumo makes group classes fun and inclusive with an app packed full of gamification features and advanced tech.

Using the sensors in smartphones, Motosumo provides analytics only found in expensive, high-end fitness equipment, which makes it a cheap and powerful instructor tool for any gym.

Fitness solutions needn’t be super serious and elite. We want group fitness to be about community. An enjoyable, welcoming space for users to compete, compare, and cooperate.

Check us out: www.motosumo.com

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