GoJoe Raises $3.07M to Expand Health and Fitness App Reach
Digital health and fitness gamification startup, GoJoe has raised $3.07 million dollars in a recent fundraising round. The new GoJoe funding will enable the health tech company to broaden its reach.
GoJoe’s co-founder, Will Turner said, “ The investor not only allows GoJoe to increase its resources to support its growth, but also widen its reach in supporting businesses in the health and fitness challenges they face in the modern workplace.”
Tech.eu reported that the GoJoe health and fitness app has had a significant impact on users who were not as active previously.
Big Backing
GoJoe attracted support from big funders in the recent funding round. The funding round was led by Redrice Ventures and Venrex Partners, with the support of Amrock Ventures.
Venrex Partners Invest Alistair Russell said, “We’re thrilled to be involved with GoJoe at the intersection of the sports and consumer sectors. We’re particularly excited to leverage our experience from investors in other successful consumer and sports-related startups, such as Ellipse Data and Revolut. The team embodies many of the characteristics of the most successful founders we’ve partnered with at Venrex.”
GoJoe is supported by Superbet Ventures and a host of angel investors. The angel investors include footballer and coach Michael Carrick and Olympian Alistair Brownlee.
“It’s really exciting to welcome investment from leading firms who have helped scale some remarkable businesses and build household brands. In recent years, we’ve demonstrated the huge value that a social product like ours can have on individuals and companies they work for,” Turner added.
Gamification in Fitness
The GoJoe app leverages social accountability and gamification to motivate users to achieve higher mental, physical, and social health. It helps businesses to meet employee well-being needs. The app comes with a range of in-app features and functions that support virtual team-based challenges.
It includes live tracker maps and a weighted point system for each of its 50 activities. Users can train virtually alongside professional athletes and celebrities. Enterprise clients have reported that 61% of their employees have experienced significant health improvements in their social, mental, and physical spheres.
The impact is more pronounced in lightly active and sedentary users. In some instances, previously inactive users have reported up to 800% increase in activity.
Global Reach
The GoJoe gamification app is currently being used in over 150 countries. The app is designed to break location, physical, tech, and language barriers. This allows it to offer users global and inclusive benefits. Companies from any part of the world can access health insurance and GoJoe employee assistance programmes from a single location.
The health tech company is currently partnering with top health insurance companies to quantify the impact its product has on reducing health incidences, premiums, and claims.
The health tech startup is also integrating the GoJoe app with human resource management systems. This integration will help in quantifying the impact of low absenteeism resulting from physical and mental health.
