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MapMyFitness adds financing, hits milestone

Published July 5, 2012

AUSTIN, TX (BRAIN) Thursday July 5 2012 11:28 AM MT—MapMyFitness has arranged for an additional $3 million in financing, the social fitness app maker announced Thursday. The company also said its membership has surpassed 10 million.

The additional financing is from Square 1 Bank.

The new financing comes on top of $9 million Series B funding from Austin Ventures, Milestone Ventures, Competitor Group Inc. and The Running Specialty Group LLC, announced earlier in the year.

The company said it would use the funding to "to advance its leadership position in the global online and mobile fitness application markets and further develop its offerings."

MapMyFitness said it has doubled revenue each of the past four years and is projected to nearly triple its revenue in 2012.

Topics associated with this article: Web/Internet

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