The Amsterdam based fitness app startup Fitmo announced yesterday evening that it signed a deal with Jawbone, news site Nu.nl reports. Backed by Tier-1 VC firms like Khosla Ventures, Sequoia Capital and Andreessen Horowitz and famous for its Fitness Up wristband, Jawbone is recently valued $3 billion.
Fitmo has developed an app that takes the personal trainer online and mobile. Months before the deal the 1-year old startup raised €1.2M in funding from informal investors.
Its value proposition is to connect users to real trainers that provide structure and accountability. “You can lie very easily to an app like 7 Min Workout or actually to yourself. You won’t do that to the real trainer behind Fitmo”, co-founder Dave Roeloffs said recently in an interview.
Structure to users is provided through daily messages or video chats. Trainers can track users performance by analyzing the health data that’s collected via wearables like Runkeeper, Fitbit and Jawbone UP.
Fitmo charges users $40 per month for their online personal trainers. Trainers are allowed to coach up to 100 people. A 80/20 revenue share deal is offered to trainers.
The traction of users and trainers of Fitmo is quite modest. It has 400 users and 30 personal trainers on it platform. However, raising €1.2 million in seed funding in Europe is quite a feat for a 1-year old startup. But even more so the deal with Jawbone shows that Fitmo is on to something.
Photo Credit: Fitmo