12 million sports injuries occur per year due to incorrect technique while training, leaving a $40b opportunity for a technology that corrects form. We track motion and give athletes real-time feedback on their lifting technique, all from a wearable device and smartphone. We are focused on lifting, but later will expand to golf, tennis, baseball and yoga, Pilates to become the dominant player for form correction across all sports.
We all know someone that takes their training seriously, you could say he’s a regular at the gym. It’s their last lift of the day, and they are going for that personal record, but leave either injured or frustrated. Well, we are here to solve that for athletes at all levels across the world.
No matter the stage of an athlete, they all share a common goal, that’s to decrease injury while maximizing performance. This holds true for kids building their athletic foundations, serious athletes at the peak of their performance, and everyday gym goers that live an active lifestyle but need to be able to pick up their kids every day. Poor technique while training is the primary factor keeping them from achieving these goals, and attributes to almost 12 million sports injuries per year.
This leaves a big need for a solution that can provide the feedback necessary to prevent poor technique. This solution should be a portable technology that provides real time feedback to users during their sessions, allowing them to drive results. Lastly, this solution must be advanced enough to evolve with the training methods of tomorrow.
Our unique and valuable offering led to our strong initial traction of having 6 university strength programs in paid trial and 14 annual subscriptions with B2C customers, totaling $19.6k earned year to date with up to $30k of committed revenue by end of Q3 of this year. We are also currently rolled out to 58 pro cyclists for use during weight training as a result of our partnership with Team DSM, an elite cycling team worldwide. We initially validated product market fit through this pilot partnership, as we built our product together with their head strength trainers. Most recently, Softeq invested $100k in us as accelerator funding and we gained admission to Capital Factory Ventures and WTIA Founder Cohort, proving that multiple accomplished entrepreneurs and investors believe in our vision.
The University of South Carolina Football program chooses to purchase FitLift for their entire weight room. This is our first major client totaling over 20 devices and over 100 athlete accounts and proves our product is of high enough quality for elite competitive programs.
We take home a cash prize of $2,500 as a result of winning 2nd in our category. This competition has both student and alumni ventures apply, where only 3 are chosen as finalists to compete live on campus for the prizes.
After only 1 year using our product, two our our athletes have achieved their first wins in major competition. What did they attribute to the success? Better strength training that helped them build the explosive power needed to beat the best, powered by FitLift!
We receive our first outside investment of $100k to pair with admittance into the Softeq Venture Studio. This Venture Studio is focused around accelerating startups with a hardware/ software component through business development, supply chain optimization, and applicable investor exposure.
The big day has come, and our product finally got approved for the App Store. After over a year in development and responding to BETA customer feedback, we are ready for our first version to launch!
We completed our first major partnership with Team DSM (previously Team Sunweb). Starting in Q1 of 2021, our product will be used by just under 60 of their cyclists for purposes of weight training. A quote from the Team is included below.
