Health and fitness SaaS platform FitBudd has raised $3.4 million in a seed round from Accel India, Sequoia Capital India, Beenext and Waveform Ventures, the company’s co-founder and CEO Saumya Mittal told.
FitBudd was a part of Accel India’s first cohort of the Atoms program in February. Launched in August 2021, the accelerator program makes pre-seed funding of $250K in startups without taking any stake.
FitBudd is a SaaS platform for global health and fitness coaches to deliver personalized coaching. A brainchild of Mittal, Pranav Chaturvedi, and Naman Singhal, it allows coaches on the platform to cater to a global audience.
Coaches on FitBudd can create customized workouts for trainees and equip them with full stack solutions including CRM, payments, comprehensive fitness and nutrition modules, analytics and audio-visual communications among others.
The startup will use the fresh funds towards product development with a focus on the business growth of coaches on the platform.
“While personal coaching has been established as a proven method for long-term fitness, it has been inaccessible for the vast majority of the population due to cost. With FitBudd, we aim to democratize personal coaching by making it available at 1/5th the cost,” said Mittal.
The Gurugram headquartered company has a presence in more than 20 countries and its coaches are from US, India and Europe. It mostly acquires coaches through referral programs and social media platforms such as Instagram and Facebook.
FitBudd works on the B2B2C model and makes revenue from the fee it charges from coaches and subscription plans for end customers with monthly fees ranging from $29 to $99. It claims that 1,000 coaches are using its platform at the moment.
According to Mittal, the company is targeting a 5X to 6X jump in its revenue in the ongoing fiscal year (FY23) and may explore the coach discovery space at large.
FitBudd counts Lenus and Future as its global peers whereas Khosla Ventures-backed HealthifyMe is also a prominent player in the consumer space.
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