Fitness tech company Myzone hits $ 102 million valuation after new investment

Myzone, the global manufacturer of wearable fitness tracking technologies, today announced it has secured a US $ 17.2 million investment from BGF, the UK’s most active growth capital investor.

Coinciding with the announcement of the investment, renowned tech entrepreneur Vin Murria has joined the company as non-executive chairman.

Established in 2011 by fitness industry expert Dave Wright, Myzone has experienced impressive growth since its inception and currently serves over 9,000 facilities in 84 different countries, with over two million devices shipped.

Designed to engage and motivate people to be more physically active, Myzone is used in many of the world’s largest fitness clubs and has entered new markets such as elite sports teams, hospitals, schools, universities and the business sector.

BGF investor Seb Saywood said: “Myzone is a pioneer in the growing health and wellness industry.

“We were impressed with its unique business model, scalability, market presence and exceptional leadership team. “

Explaining that Myzone chose BGF because of his experience in supporting fast growing businesses, Myzone Managing Director Phil Whittam said, “We have been in a very lucky position as we have grown so far. organic to date, without the need for external capital. We needed an experienced partner who could accelerate our growth plans.

“We are particularly delighted that Vin Murria OBE has also decided to invest in the company. Vin is a visionary leader in the tech world and has created many tech companies. In 2018, she was awarded the Order of the British Empire (OBE) for service to the UK digital economy, as well as for the advancement of women in the software industry.

This news follows the successful launch of the Myzone MZ-Switch – the world’s first interchangeable heart rate monitor with chest, arm and wrist options – in 2021.

Whittam added, “The launch of the MZ-Switch has opened up new markets for us.

“It is now an ideal solution for a corporate and school environment, and our partnership with BGF and Vin will help stimulate these new markets in addition to building on our long-standing support for the traditional fitness industry. “

BGF has invested over £ 100million (US $ 135million / AU $ 188million) in technology companies in 2021 and has announced seven successful exits in the industry this year.

Related Articles

November 22, 2021 – Summit to showcase how technology adoption will drive the renaissance of aquatic, fitness and recreation facilities

September 29, 2021 – Myzone appoints new Global Head of Product

August 4, 2021 – Myzone joins forces with WIFA’s Run the World campaign

May 22, 2021 – Myzone recognized as Tech Company of the Year at the APAC Fitness and Wellness Awards of Excellence

April 21, 2021 – Myzone launches MZ Switch mobile heart rate monitor

March 22, 2021 – Life Fitness integrates with Myzone to further improve the connected fitness experience

February 19, 2021 – Les Mills Asia Pacific and Myzone Partner to Offer Integrated Solution to Drive User Engagement

February 8, 2021 – Myzone shares strategies for gym owners to push their clubs above the competition

July 31, 2020 – Myzone announces management restructuring for the post-Coronavirus operation

July 8, 2020 – Evolt and MyZone team up to offer seamless technological integration

April 8, 2020 – The Myzone Global challenge helps with physical motivation

April 1, 2020 – Myzone launches a global challenge with incentive prizes

February 2, 2019 – World Gym and Myzone team up to launch World Gym Athletics program in Australia

December 5, 2018 – Myzone launches a new course booking feature

October 24, 2018 – Anytime Fitness partnership aims to make Myzone the most portable activity technology

Ask for a little favor
We hope you enjoy the news we publish. While you are here, can we ask for your support?

The news we publish on is independent, credible (we hope) and accessible for free, with no pay walls or annoying pop-up ads.

However, as an independent publisher, can we ask you to support us by subscribing to the print version? Australasian recreation management magazine – if you don’t already.

Published bimonthly since 1997, the print Australasian recreation management differs from this website in that it publishes longer, in-depth and analytical articles covering water sports, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and management sites.

Subscriptions cost just $ 90 per year.

Click here register.

Comments are closed.