PumpUp Inc has secured US$2.4 million in seed-stage financing. The round was led U.S. venture capital firm General Catalyst Partners with the participation of Canadian firm Relay Ventures, as well as Azure Capital Partners, Freycinet Investments and a number of angel investors. PumpUp, creator of a photo-based social network for healthy and active living, said the funds will be used to grow its community, expand its internal team, and develop its app, which currently has more than 1.7 million users. Co-founded in 2012 by CEO Garrett Gottlieb and president Phil Jacobson and venture-backed since 2013, the company has its headquarters in Toronto and an office in San Francisco.
PumpUp Secures $2.4 Million in Seed Funding Led by General Catalyst Partners
The Inspiring PumpUp Community Continues Rapid Growth, Hitting More Than 1.7 Million Users
SAN FRANCISCO, CA–(Marketwired – Jul 24, 2014) – PumpUp, Inc., creators of the first photo-based community for healthy and active living, today announced the closing of a $2.4 million seed financing round led by General Catalyst Partners. The funding will be used to accelerate the rapid growth of the PumpUp community, expand the internal team, and further develop the app, which currently has over 1.7 million users.
PumpUp is the leading social network for those interested in a healthy, active lifestyle. The PumpUp app combines photo sharing, community and fitness tracking, immersing members into a comfortable and positive community where they can share content around their personal fitness goals, progress, healthy meals, mental health, and more.
“We’re delighted to announce the closing of our seed round,” said Phil Jacobson, co-founder of PumpUp. “As the PumpUp community has quickly grown to over 1.7 million members, we’ve seen countless inspiring stories come to life. From members gaining the confidence to share the very first photo of their body publicly, to members seeking support, to members simply sharing and discovering healthy meal ideas. The community we’ve cultivated is a positive, comfortable space where members come together to share, support, and motivate each other.
“While this a great milestone, we’re just scratching the surface,” said Garrett Gottlieb, co-founder of PumpUp. “With PumpUp, we’re leveraging mobile technology to connect like-minded individuals across the planet who would have never met otherwise. The connections made on PumpUp are transforming the lives of millions. We’ve already started to expand our company with the top engineers in Canada and the US so we can continue to deliver world-class experiences to our rapidly growing user base.”
General Catalyst Partners led PumpUp’s seed investment round. Additional investors included Azure Capital Partners, Relay Ventures, Freycinet Investments, and a number of angel investors.
“We are thrilled to partner with Phil and Garrett to build a category-defining community in the health and fitness space,” said Niko Bonatsos of General Catalyst Partners. “Consumers today are looking for inspiration and guidance regarding their physical activity and eating habits without being overwhelmed by a plethora of applications. PumpUp is uniquely positioned as a horizontal platform that provides an open, safe and positive community to engage with compelling health and fitness related content.”
Since inception, PumpUp has rapidly grown in popularity among females, who make up over 90% of the PumpUp community. People across the world are choosing PumpUp because they can comfortably share content they don’t want to share on other social networks, while being able to connect with like-minded people in a highly supportive manner.
Join the community and download PumpUp on the iOS App Store or Google Play Store for Android. To find out more about PumpUp, visit www.pumpup.co.
Uproar PR for PumpUp
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