Future Raises $8.5M in Series A Funding Led by Kleiner Perkins to Digitize the Personal Training Experience
The $5 a day personal coaching platform
May 23, 2019, 06:05 ET
SAN FRANCISCO, May 23, 2019 /PRNewswire/ -- Future, digitally pairing fitness enthusiasts with world-class trainers to receive personalized and flexible training plans, today announced $8.5M in Series A funding led by Kleiner Perkins, bringing the company's total funding amount to $11.5M. The company will use the capital to expand its go-to-market strategy, scale trainer operations, and develop key business partnerships to enhance the personal training experience for customers. Kleiner Perkins partner Mamoon Hamid will join Future's Board of Directors.
Future leverages a data-driven technology approach to pair each customer with a remote personal trainer who coaches one-on-one from the company's digital platform. For just $5 a day, users can access a weekly training plan, nutritionist information, and monitor their progress daily while staying in constant contact with a personal training partner. Each personal trainer is certified, formally educated in exercise science, and employs a distinct, customized approach based on an individual's personal fitness needs. The flexibility of Future's platform means members aren't required to access a gym and can easily use the app at home or on the road, whenever it's convenient to get in a workout. Trainers communicate with trainees via text message to provide advice, adjustments, and continued support. Leveraging data available on Future's app, trainers can know if their clients are following training schedules and can send alerts and feedback based on a customer's goals, progress, preferences, and work or travel schedule, all at a low cost.
Future was co-founded in 2017 by Rishi Mandal and Justin Santamaria who were looking for a better way to optimize their fitness results, without the overhead of personal training expenses. While having a coach is the best predictor of fitness success, 99% of Americans can't afford in-person training, which routinely costs $5k-15k per year. Additionally, without the support to sustain improvement, people often fail to maintain healthy habits. With Future, members are held accountable for maintaining their fitness routines through real-time, constant contact with trainers. For trainers, Future's platform also amplifies a coach's reach, allowing him or her to manage and train many more clients than they could in person.
"Every year 125 million Americans try to get fit to look great, feel great, or improve their overall health and longevity, but nearly 80% quit their exercise routine within 3 months," said Rishi Mandal, co-founder and CEO of Future. "We created Future to help people stay accountable for their personal health and fitness aspirations while providing continuous support and coaching to meet those goals."
On average, Future members trade thousands of text messages per year with their trainer, while they might typically speak to their doctor only one to two times per year. Through the platform's two-way communication capabilities, Future has also been proven to establish long-term relationships between trainer and client, empowering members to better manage more aspects of their daily health – from their diet to sleep and stress -- on a sustained basis.
"Nearly 70% of people in the United States today are overweight or suffer from obesity, severely impacting their long-term health and well-being," said Mamoon Hamid, partner at Kleiner Perkins. "We're thrilled to have Future in our portfolio as a great example of how technology can help the many, not the few."
Current seed investors in Future include Khosla Ventures, Mike Krieger (founder Instagram), Caffeinated Capital, Founders Fund, Ndamukong Suh (NFL), Kelvin Beachum (NFL).
Request an invitation to join Future today.
ABOUT FUTURE
Future provides personal training experience with elite coaches through its 1-on-1 digital training platform for just $5 per day. Believing that personal training can be effective and affordable, Future pairs members with certified trainers to design customized workout plans incorporating a preferred exercise routine and whatever equipment they have available — from being at home with no equipment to being at a gym fully-stocked with the latest gear, and everywhere in-between. Founded in 2017, Future's team is led by a group of trainers and engineers who have worked at Apple, Nike, Fitbit, Google, and the NBA. The company has raised capital from investors, including Kleiner Perkins, Khosla Ventures, Mike Krieger (founder Instagram), Caffeinated Capital, Founders Fund, Ndamukong Suh (NFL), Kelvin Beachum (NFL). Request an invitation to join Future today at www.future.fit and follow Future on Instagram @futurefitapp.
ABOUT KLEINER PERKINS
For five decades, Kleiner Perkins has partnered with some of the most ingenious founders in technology, helping them make history with their bold ideas. Through 19 venture funds and four growth funds, we've invested $9 billion in hundreds of companies including pioneers such as Amazon, Genentech, and Google. Today, Kleiner Perkins continues to invest in founders and their bold ideas helping them to make history. For more information, visit www.kleinerperkins.com and follow us on Twitter @kleinerperkins.
SOURCE Kleiner Perkins
