Stubbs Alderton & Markiles, LLP (SA&M) represented client FitOn, a leading fitness app and digital fitness platform, in its latest successful funding round as well as the acquisition of corporate wellness company Peerfit. The $40M Series C was led by Delta-v Capital with participation from Accel, Maverick Ventures, Second Avenue Partners, and Mantis VC. An additional strategic investment from UTA VC, United Talent Agency's venture fund, brings FitOn’s total funding to $70M. The acquisition of Peerfit, which has 1 million members comprised of consumers, employees, and Medicare recipients, will enable FitOn to continue expanding its reach in healthcare and wellness.
“Combining Peerfit with the innovative digital platform we have built at FitOn, will create a first-of-its-kind virtual and in-person wellness experience to engage people both at home and in their communities," says FitOn Co-Founder and CEO Lindsay Cook. Peerfit’s established strategic partnerships with major health plans and employers will complement FitOn’s accelerated growth and make services accessible to a broader population. Since launching in 2019, FitOn has grown to provide premium workouts to more than 10 million members.
SA&M attorneys advising FitOn on the deal included Louis Wharton, Kelly Laffey, Michael Shaff, Simon Leefatt, Durdana Karim, and Jose Ortiz. To learn more about the Series C funding round and acquisition, read FitOn’s press release.
