This morning San Luis Obispo-based wellness platform Mindbody announced the acquisition of FitMetrix, a performance tracking engagement platform, for an undisclosed sum.
"Together, FitMetrix and Mindbody create a broader offering of services for class-based boutique fitness businesses, and further expands our reach into the broader fitness market," Monica Dioda, CEO and co-founder of FitMetrix, said in a statement. "Our class-based booking and performance tracking solutions can integrate with any fitness and wellness business management platform, allowing us to help even more people around the world connect to wellness."
The Atlanta-based FitMetrix helps wellness businesses, such as gyms, increase retention by letting the companies engage with users and track their fitness. The platform allows customers to book classes, track workouts, and get communications from gyms.
FitMetrix and Mindbody originally teamed up in 2015, giving fitness studios and gyms the capability to integrate digital performance tracking into their locations across multiple classes, according to a release. The partnership allowed business to track, rank, and reward clients in real time using customized workout metrics.
"FitMetrix's powerful and intuitive tools help our customers drive results and retention while providing their clients with a fun and unique approach to fitness," Rick Stollmeyer, Mindbody CEO and cofounder of Mindbody, said in a statement. "Interactive engagement is the future of fitness, and we see some of our most successful customers integrating performance tracking technology into their studios.”
Mindbody lets users set goals and track progress by integrating with Fitbit activity trackers. Users can also find workouts, reviews, and book fitness classes.
This isn’t the first acquisition for MindBody. Since 2015 it has acquired three companies including Lymber, HealCode, and Fitness Mobile.
Mindbody went public in June of 2015 and has a valuation of of $448 million, with stock prices at $14 a share, according to Crunchbase.
In the past Mindbody has teamed up with fitness giant Under Armour to enhance its MyFitnessPal offerings. The partnership gave users access to classes at tens of thousands of fitness studios in the Mindbody network across the US.
