Led by investor Jake Silverstein, funding capitalizes on expansion of footprint and offerings
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–June 25, 2014–
Fitwall, one of the World’s Top 10 Most Innovative Companies in Fitness according to Fast Company, announced today that it has secured additional funding in order to continue its meteoric growth and dominance as the future of fitness. The latest round, led by investor Jake Silverstein, will be used to expand Fitwall’s growing footprint and further its development of in-studio and at-home fitness offerings.
“Fitwall’s goal is to provide the best fitness experience in the world by empowering people to succeed like never before in a fun, engaging and effective way,” said Josh Weinstein, Fitwall’s chief executive officer and founding board member. “This capital will help us to expand quickly and strategically into new markets, innovate rapidly, and deliver on our vision around the world.”
Silverstein, a private investor based in Florida, is the founder of E’lir Capital, an investment company focused on early-stage technology and consumer companies. Previously, he was an early employee of Prodea Systems, a connected-home technology company founded by telecommunications pioneers Hamid and Anousheh Ansari, the first female space tourist and the first Iranian in space.
Silverstein holds a master’s degree from the University of Michigan, and received his bachelor’s degree in mathematics at age 19. An avid reader and fitness enthusiast, Silverstein is a member of the X-Prize Foundation Vision Circle, and a board member of the William James Foundation and Mama Hope. With his investment, Silverstein also joins Fitwall’s board of directors.
“As a lifelong fitness enthusiast, I believe we are at an inflection point regarding the global potential for health and wellness,” said Silverstein. “Given Fitwall’s world-class team and exciting approach to fitness technology to me this feels like a sure bet. By every metric, Fitwall’s innovative strategy is powering a major evolution in fitness, and I am excited to be their partner as they continue to grow.”
Fitwall studios offer 40-minute, technology-driven, high-intensity interval training sessions on the Fitwall, a ladder-like device with hand and foot grips that allow for vertical “up and down” movement, which was developed by engineers and exercise experts. Members check in on an iPad, click into the Fitwall using a Bluetooth heart rate monitor known as a peanut, and receive constant feedback from the heart rate monitor and iPad throughout the session. Every second of the training session is monitored and members track progress with FIT Factor (Fitwall Intensity Training Factor), Fitwall’s proprietary metric.
Each workout incorporates a series of moves like pull-ups, kicks and squats by stepping, pulling and jumping on rungs. Interspersed throughout are planks, rows and groundwork done with weighted resistance bungees attached to the Fitwall. The combinations of movements, adjusted based on each individual’s fitness level, are designed to train the body as a whole, instead of in pieces, to mimic the way the body is designed. This innovative approach lends itself to incredible athletic gains as well as quick changes to muscle gain and fat loss.
To learn more about Fitwall and its studio locations, visit Fitwall.com. The future of fitness also can be found on Twitter and Instagram by following @Fitwall with #trainsmarter and by liking the Fitwall Facebook page.
Fitwall is 40-minutes of fun and innovative training that combines world-class coaches with the latest in technology for the most effective and efficient workout possible. Our unique approach on and off the Fitwall works the body as a whole rather than in pieces, building strength, cardio and flexibility, helping our members to train smarter rather than longer or harder. Recognized as the future of fitness, Fitwall’s inviting approach enables members to achieve better results than ever imagined. To learn more about our company, its people and our technology, visit Fitwall.com.
KJ Greenwood, 612-877-1107