Barcelona-based boutique fitness software platform bsport has raised €30 million ($31.5 million) in a Series B funding round, setting the stage for international expansion, including a bigger push into the United States market.
Bsport announced the funding round this week, which was led by American venture capital firm Base10 Partners and U.K. firm Octopus Ventures. Stanford University, Seventure Partners and Seed4Soft also participated in the round.
With the new funding, bsport intends to drive expansion across the North American, European and Asia-Pacific (APAC) markets, accelerate its investment in generative AI and triple its workforce by 2026.
“With the support of our new and existing investors, bsport is on a mission to unlock the full potential of wellness studios by providing an unparalleled, all-in-one solution that combines advanced technology and innovation with a deep understanding of our clients’ needs,” bsport co-founder and CEO Zakaria Mansour said.
Founded in 2018 and launched in 2020, bsport serves around 2,000 gyms and fitness studios across Europe and North America, predominately small and medium-sized businesses. Its clients include U.K.-based brands Paper Dress Yoga, United Fitness Brands and Boom Cycle, according to its website. In 2022, the company raised €4 million in a Series A round led by Seventure Partners.
By next month, bsport expects to reach over €10 million in annual recurring revenue, Mansour has told Axios.
Bsport says its software offerings are designed to “reduce operational costs and maximize revenue to enable scalable growth” for fitness studio owners. Its services include class bookings, payments, staff management, sales and marketing, and member experience tools.
The company has its headquarters in Barcelona and additional offices in Paris, London, Berlin and the United States, employing a multilingual staff of around 160. As it pursues expansion, bsport will place a special focus on the North American, Asian-Pacific and DACH region (Germany, Austria, Switzerland) markets, the company says.
“Bsport is well-positioned to take on the needs of small and medium-sized businesses in the wellness space – an industry that has largely gone underserved by technology,” TJ Nahigian, a managing partner at Base10 Partners, said. “Zakaria and team’s all-in-one platform helps these businesses take control of their own growth, and we are thrilled to be supporting this special team.”
Bsport isn’t the only fitness software firm to reel in funding for international expansion. Hapana, an Australia-based brand, landed $17 million earlier this month to fuel expansion in the APAC region and the U.S., and launch a next-generation platform.
Sport Alliance, a software platform based in Hamburg, Germany, that serves the sports and fitness industries, got a $100 million growth investment from PSG Equity late last year to drive global growth.
