SaaS health and fitness platform FitBudd has raised $3.4 million in a seed round from Accel India, Sequoia Capital India, Beenext & Waveform Ventures, company co founder & CEO Saumya Mittal.
FitBudd was part of the first cohort of Accel India Atoms program in February. Launched in August 2021, the accelerator program provides $250K seed funding in startup without taking any stake.
FitBudd SaaS platforms
FitBudd is a SaaS platforms for global healths & fitness coaches to deliver personalized training. The creation of Mittal, Pranav Chaturvedi & Naman Singhal, allow trainer on the platforms to cater to a global audience.
Fit Budd trainer can create personalized workout for student and equip them with complete solution including CRM, payment, comprehensive nutrition & fitness modules, analytics, audio visual communication & more.
The startups will use the fresh funds for products developments with a focus on growing the business of trainers on the platforms.
Although personal training has been established as a proven method for long term fitness, it has been inaccessible to the vast majority of the populations due to cost. With Fit Budd, our goal is to democratize personal training by making it available at 1/5 the cost, said Mittal.
The Gurugram based company has a presence in more than 20 countries and 50% of its trainer are from India while the rest are from the United States & Europe. It primarily acquires trainer through referral programs & social media platform like Instagram & Facebook.
FitBudd works on the B2B2C model & earns revenue from the fee it charges to trainer & subscription plans for end customer with monthly fees ranging from $29 to $99. He claim that 1,000 trainers are using his platform right now.
According to Mittal, the company is targeting a 5-6x increase in revenue in the current fiscal year FY23 & may explore the coach discovery space in general.
Fit Budd counts Lenus & Future as its global peers, while Khosla Ventures backed HealthifyMe is also a prominents player in the consumers space.