The Racefully app successfully closed its latest raise on equity investment platform, Crowdcube, securing over £160k ($211k) in funding, to close off an initial £400k ($530k) investment round. The app is revolutionising the fitness scene: its unique technology unites runners around the world by enabling them to run together, virtually and in real time, regardless of each runner’s location.
The raise welcomes over 120 new investors, including Ronan Dunne, the ex-CEO of O2 UK and the next Group President of Verizon Wireless. Dunne is the latest in a series of impressive backers, including the former global COO of Skype, former MD of Gumtree and the former MD International of DoubleClick.
In the six weeks since launch, Racefully has been used in over 53 countries, its users have logged over 3000km, and the app teamed up with I Am Team GB to deliver the UK’s first nationwide real-time virtual run event. These developments offer a brief glimpse into what Racefully aims to achieve in the coming months. Tribes, run buddies, in-run voice chat and global, mass-participation events are all on the horizon.
The highly anticipated Tribes feature will enable large groups of runners to create their own ‘tribes,’ or communities, within the app, connecting runners worldwide through a shared cause, hobby, workplace, or other unifying theme. Tribes will also play a big part in mass-participation events. The Racefully app already ran its first London Marathon in 2016, and is looking forward to enabling runners to participate in the famous race next year – from wherever they happen to be.
Co-founder, David Naylor says “We’re thrilled to have had so much support for Racefully from our community and the crowd, and we’re looking forward now to delivering even more of our unique social fitness features so that everyone can enjoy keeping fit together with friends, wherever they are in the world.”
Racefully is now available to download in the App Store free of charge. At present, the app is available for iOS only, with plans for an Android release in early 2017.