Strength training app, Ladder, has secured more than US$100 million investment to support new growth initiatives and reach a global audience.
The US$15 million Series B funding was led by Point72 Ventures and ADvantage VC, along with PagsGroup and Series A lead investors Tapestry VC and LivWell Ventures, as well as a further US$90 million go-to-market investment from General Catalyst. This follows last year’s US$12 million Series A investment.
CEO, Gregory Stewart, says: “This is a huge day for Ladder – our team, our investors and most importantly our incredible member community. Fundraising is not an end-game, but these partnerships will help us deliver an even better experience to our members and find new opportunities to serve their health and fitness journey.
“Our members come to Ladder and stay because we offer so much more than a workout library. The app delivers personalised, progressive plans typically only available through expensive personal training, along with a supportive community that keeps members motivated.”
The investment will allow Ladder to reach a global audience, accelerate product development and support expansion into new business lines, including apparel, as well as move into corporate wellness.
Ishan Sinha, partner at Point72 Ventures, says: “As the fitness landscape continues to evolve, we anticipate strong demand for training programmes that deliver highly personalised and progressive workout experiences while fostering a sense of community and accountability. We believe that Ladder is well-positioned to capitalise on these trends.”
Ladder offers strength training workouts suitable to be used at home, at the gym, or outside. It providers subscribers with a new workout plan every week, put together by top coaches. Users choose their preferred training modality from a choice that includes bodybuilding, HIIT, kettlebell training, Pilates and yoga-infused strength training.
The app also offers progress tracking, milestone badges, streak counts, leaderboards and interactive communities to keep members focused and celebrate their achievements.
Sixty five per cent of Ladder members use a commercial gym at least once a week, as well as at-home workouts. Ninety two per cent say they lacked confidence in their workout routine before joining and 80 per cent hadn’t previously used a training app.
A free seven day trial is offered, with no credit card details requested until sign up. The monthly subscription costs US$29.99 a month or US$14.99 for an annual subscription.
