Endomondo, the startup that developed the Endomondo Sports Tracker app, raised $800,000 in its first round of funding from SEED Capital, the largest venture fund in Denmark. The app provides GPS tracking of and distance-based sport, according to the company, and already has more than 2.3 million downloads. The app receives about 10,000 new downloads per day and counts users in more than 200 countries. The app first launched in 2007.
What sets Endomondo apart from most of its competitors is it multiplatform approach: The app is available on iPhone, Android and BlackBerry, sure, but also on Symbian, Windows Phone, Windows Mobile and Java phones. According to the company the app is available on more than 250 handsets and supports almost all GPS phones.
"Similar apps such as RunKeeper cover just a couple platforms," Endomondo noted in its press release.
"From the beginning, our vision has been to make sports more fun and help people become physically active," Mette Lykke, Co-Founder Endomondo stated in a company release. "We strongly believe that technology - used in the right way - can be very motivating. This infusion of funding will help us to continue to grow the Endomondo Sports Tracker and expand its most distinctive element – the social aspect of sharing and peptalking."
Endomondo's angel investors include Victor Feddersen, a Danish Olympic champion and world record rower, and Jacob Aqraou, a general manager at eBay Classified Group.
Endomondo's app works in conjunction with Bluetooth-enabled heart rate monitors from Polar and Zephyr if the user has certain phones.
For more on the investment, read the full press release after the jump.
Endomondo Runs Up $800,000 in Fundraising Round for Sports Tracker App
COPENHAGEN, Denmark – March 14, 2011 – Endomondo, (http://www.endomondo.com), creator of the Endomondo Sports Tracker app that turns the mobile phone into a full-fledged personal trainer in your pocket, announced today that it has raised $800,000 in its first round of funding.
This funding round comes from the largest venture fund in Denmark, SEED Capital. Prior to this round Endomondo was funded by seven private angel investors. They include Victor Feddersen, a Danish Olympic champion and world record holding rower, and Jacob Aqraou, general manager of eBay Classifieds Group.
Endomondo Sports Tracker, which provides real-time GPS tracking of any distance-based sport, has more than 2.3 million downloads with at least 10,000 new downloads per day. The app experienced its most tremendous growth in 2010, going from 80,000 downloads to more than 2 million.
"From the beginning, our vision has been to make sports more fun and help people become physically active," said Mette Lykke, Co-Founder Endomondo. "We strongly believe that technology - used in the right way - can be very motivating. This infusion of funding will help us to continue to grow the Endomondo Sports Tracker and expand its most distinctive element – the social aspect of sharing and peptalking."
Endomondo stands out from the competition by covering seven mobile platforms (iOS, Android™, RIM, Symbian, Windows Phone, Windows Mobile, Java), while similar apps such as RunKeeper cover just a couple platforms. It is available on more than 250 handsets and supports almost all GPS phones.
Endomondo also focuses more on the community and social aspect to help motivate users. These features include challenges to create competition among friends and colleagues and peptalk messages to friends who are working out or competing.
Endomondo Sports Tracker was recently showcased at the Android stand at last month’s Mobile World Congress in Barcelona. The free version alone has more than 850,000 downloads on Android, and has a rating of 4.5, whereas the paid version is currently rated at 4.7 out of 5.
About Endomondo
Launched in November 2007, Endomondo Sports Tracker turns the mobile phone into a full-fledged personal trainer. The app can be used for running, cycling, walking and all other distance-based outdoor sports. Using GPS, the app tracks route, distance, duration, split times, calorie consumption, and more, while providing audio feedback on performance. The app offers a full history with previous workouts and statistics, as well as a route map for each workout. On certain handsets, the app also supports integration with the built-in music player and Bluetooth heart rate monitors from Polar and Zephyr. Endomondo Sports Tracker also incorporates community and social features that allows users to challenge friends and share results. For more information, please visit http://www.endomondo.com and follow @Endomondo on Twitter.
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