Funxtion Fuelled by US$5.7 Million Investment

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In August 2022, Funxtion raised €5.8 million in equity capital from their current shareholders and Lexar Partners.

The Amsterdam-based company will heavily invest in the intelligence of their platform, particularly in the areas of data science, machine learning, and artificial intelligence to help gym operators provide hyper-personalised member experiences.

“Hyper-personalised content is the future of the fitness industry. By offering customised, data-powered fitness content, gyms can appeal to their members on a more personal level,” says Ernst de Neef, Co-Founder and CEO of Funxtion.

The equity capital will also go towards enriching their digital fitness content and marketing and sales to rapidly expand Funxtion’s presence in their current markets and new territories, including the United States.

Funxtion are excited to be backed by Lexar Partners, the growth equity investment firm focused on the digital world of tomorrow that are enthused about the technological market opportunities in the fitness industry.

“Funxtion are leaders in the digital transformation of the fitness industry worldwide, and the founders’ product and vision support our passion for investing in businesses that use innovation to help people live healthier lives,” says Sander van Woerden, Founding Partner at Lexar Partners.

“We are pleased to support Funxtion in their plans to accelerate the innovation of their platform and to grow 10x in the next few years,” adds Sander.

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About Funxtion

Funxtion is an Amsterdam-based B2B SaaS fitness content platform company that empowers operators around the world with the ability to personalise and distribute digital fitness experiences to their members at scale. Founded by fitness industry experts Ernst de Neef and Mendel Witzenhausen in 2011, Funxtion currently supports fitness operators in more than 27 countries with its open ecosystem Platform, ever-expanding digital fitness content library, in-built customisation tools, and delivery device integration software.

About Lexar Partners

Formed in 2022 by Max van de Blaak and Sander van Woerden, Lexar Partners is an investment company based in Laren, the Netherlands that provides growth capital to leading innovative software, technology and e-commerce businesses that have a focus on improving people’s lives.