Betting that pandemic-fueled home workouts will continue at a feverish pitch, online workout platform Obé Fitness received support from investors in the fitness industry, including Gap-owned Athleta, WW International Inc., as well as Samsung Electronic Co.’s Samsung Next, as well as actress-comedian Tiffany Haddish, according to a Thursday (July 22) Bloomberg report.
With the $15 million fundraising round, values for the five-year-old company are approximately $190 million, according to the report. Additional investors include Cavu Venture Partners, Wheelhouse Entertainment, Harris Blitzer Sports Entertainment and Aarti Kapoor, a former Goldman Sachs Group Inc. and Moelis & Co. banker.
As previously reported, Obé – which stands for Our Body Electric – is a subscription-based online streaming workout platform that features 22 live daily fitness classes and more than 6,000 on-demand classes. Obé (pronounced “obey”) offers workouts for all fitness levels with a wide variety of options, including barre, strength, cardio, Pilates, yoga, HIIT (high-intensity interval training) and sculpting, among others.
The popularity of home workouts reached an all-time high during the peak of the coronavirus pandemic as physical fitness centers closed. Even after they reopened, many workout enthusiasts continued home workout routines amid fears of contracting the virus, or simply due to the convenience of at-home fitness. In a survey of 1,000 U.S. adults who work out regularly, nine out of 10 said they would continue their at-home fitness routines post-pandemic.
Like the growing number of subscription-based digital workout platforms, including DailyBurn and Beachbody on Demand, Obé Fitness offers different pricing options, including $27 per month, as well as quarterly and annual subscriptions. Users can watch workouts live or view replays at their convenience at home or while traveling. Sessions can be viewed on a mobile device or streamed via Apple TV, Roku, Fire TV or Chromecast.