Future Raises $24M Series B for Workout Coaching App

The closure of numerous gyms nationwide due to the pandemic has created a significant opening for companies offering fitness solutions for the home. This situation has led to remarkable success for publicly traded companies such as Peloton – with its market capitalization approaching $40 billion – and has also attracted substantial venture capital investment within the fitness industry.

Future entered the market with a distinct proposition for consumers: a subscription application priced at $150 monthly, connecting users with qualified, live fitness coaches. Utilizing the health-monitoring features of the Apple Watch, the company is focused on developing a platform that combines motivation, tracking, and valuable fitness data.

Approximately eighteen months after securing a Series A funding round led by Kleiner Perkins, the company has informed TechCrunch that it has completed a $24 million Series B financing round. This round was spearheaded by Trustbridge Partners, with continued participation from Caffeinated Capital and Kleiner Perkins.

Driven by the surge in at-home fitness, Future has experienced considerable growth. Chief Executive Officer Rishi Mandal reports that the company’s growth rate has tripled in recent months, coinciding with widespread gym closures. He believes that the current circumstances have simply accelerated a pre-existing trend toward technologically advanced fitness services that enable busy individuals to incorporate exercise into their daily routines.

”The core belief driving the company is that contemporary life is consistently hectic, not only during a pandemic but also under normal conditions,” Mandal explains. “The concept of maintaining a fixed schedule is often unrealistic.”

Priced at $149 per month, Future is not targeting the broad consumer market in the same way as digital fitness programs from companies like Peloton, Fitbit, or Apple. Instead, it appears to be geared toward individuals who might consider hiring a personal trainer but may not be prepared for the financial commitment, or who require general guidance and encouragement rather than intensive instruction.

With this new funding secured, the company has ambitious plans for expansion. Mandal intends to grow the network of coaches on the Future platform to 1,000 by the same time next year. Achieving this scale could allow the service to address new challenges. Mandal envisions opportunities for Future to broaden its coaching services beyond fitness as the company expands, stating, “There is a significant potential to assist people with all facets of their well-being.”