talent hack Secures $4.7M for Spaces Fitness Platform

The past year has presented significant changes for fitness companies, as people globally have adjusted to exercising outside traditional gym settings. Notable events include Lululemon’s substantial acquisition of Mirror and the introduction of exercise technologies by major companies such as Apple and Samsung, demonstrating a surge in the fitness tech sector during the pandemic.

Talent Hack is among a considerable and expanding group of businesses aiming to broaden access to fitness, recognizing that gym access isn't feasible for many. Instead of developing its own dedicated platform, the New York-based startup’s Spaces is structured as a B2C platform specifically for fitness professionals and studios.

The company recently revealed it has secured $4.7 million in seed funding, with Global Founders Capital leading the investment. The Fund also contributed to this round, alongside Rick Stollmeyer of Mindbody Online, and investors Lucy Deland, Hannah Bronfman, Amanda Freeman, Ellie Burrows and Amy Klein.

Spaces has maintained a relatively quiet presence since its launch in January 2019, yet has attracted over 50,000 fitness professionals to its service. The company reports that it has enabled some top instructors to generate up to $250,000 in revenue.

“We represent a new kind of fitness and technology company, functioning as a genuine partner to individual wellness instructors, and providing them with the control and resources needed to succeed in the rapidly growing at-home fitness market, which is increasing by 30% year-over-year,” explains CEO and co-founder Alexandra Bonetti in a statement accompanying the funding announcement. “Our core goal is to equip fitness and wellness professionals with the necessary tools and support to grow their businesses, allowing them to concentrate on their expertise.”

Talent Hack states that the new funding will be allocated to enhancing its marketing efforts, refining the user experience, and expanding its recruitment initiatives.