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Online Fitness Firm Liteboxer Notches $20 Million

Online Fitness Firm Liteboxer Notches $20 Million

June 08, 2021 at 10:48PM
by PYMNTS

At-home boxing fitness company Liteboxer has raised $20 million in a Series A funding round, the company announced in a Tuesday (June 8) press release.

Nimble Ventures led the round, with participation from B. Riley Venture Capital and returning investments from Raptor Group and Will Ventures, per the release.

“We set out to create a workout experience that’s so immersive, people forget they’re even exercising,” Liteboxer CEO and Co-founder Jeff Morin said in the announcement. “Since our launch last year, it’s become clear that this is exactly what Liteboxer does for anyone who tries it. We’re thrilled to partner with Nimble Ventures to continue building on that vision.”

Liteboxer works on providing high-intensity training sessions, which the release says helps build cardio, strength and mental acuity.

The program also comes with music playlists, which the company posits entices people to work out longer and harder. “Liteboxer crafts beat-driven punch tracks that sync up with hit songs, enabling users to physically feel the music as they match their punches to the rhythm,” according to the release, which notes a feature called Punch Tracks allows music to automatically sync with the workout.

Users of Liteboxer are able to choose between dozens of exercises including ones for sparring, functional strength training, weight workouts and other things like yoga.

Liteboxer, according to a previous PYMNTS report, intends to “retire” that big punching bag some people keep in their garage. Instead, the Liteboxer is a stop-sign-shaped contraption with more rounded edges.

Co-founder Todd Dagres reportedly got the idea from his own workout routines, wanting a better alternative to the “uninspiring, tedious” heavy bag he’d been using. His idea was to apply a rhythm to the workout, making it an “interactive sparring partner.”

Dagres also founded Spark Capital, which has invested in Twitter, Oculus, Plaid, Tumblr, Slack, Wayfair, Postmates and Mirror.