SaaS startup FitBudd has secured $3.4 Mn in its seed funding round. The round saw participation from Accel India, Beenext, Sequoia Capital India and Waveform Ventures.
Founded in 2021 by IIT graduates Saumya Mittal, Pranav Chaturvedi, and Naman Singhal, FitBudd helps fitness coaches engage better with their customer base and also, retain their clientele.
FitBudd said that over 600 Mn people across the globe use fitness apps or take gym memberships. Of this, over 70% of people engage with personal fitness coaches when they are not unable to get results through gym and fitness apps.
Commenting on the funding Saumya Mittal, cofounder and CEO, FitBudd said, “While personal coaching has been established as a proven method for long-term fitness, it has been inaccessible for the vast majority of the population due to cost. With FitBudd, we aim to democratize personal coaching by making it available at 1/5th the cost,”
FitBudd has a B2B2C business model and derives its income from the fees it charges to coaches and from subscription plans for end users, which have monthly costs between $29 and $99. It asserts that 1,000 coaches are now utilising its platform.