Ladder, a virtual strength training platform has successfully raised $12 million in a Series A funding round, led by Tapestry VC and LivWell Ventures. Ladder, based in Austin, Texas, has experienced post-COVID growth, with an increasing number of individuals seeking personalized guidance for their fitness routines.
The company offers a monthly subscription of $29.99, providing access to progressive and structured workouts suitable for home or gym use. Each program is led by a coach specializing in various workout modalities, such as pilates, bodybuilding, or kettlebell training. Ladder plans to use the funds to enhance and expand its product and technological infrastructure.
Ladder’s innovative approach involves providing specific workout goals to users, likened to assembling a puzzle with the pieces and the picture on the box. The platform currently boasts 50,000 paying members, with over half using the Ladder app in the gym. Ladder’s unique coaching services distinguish it in the competitive fitness app market, focusing on guiding users toward specific fitness objectives.
The company’s name and logo symbolize the collaboration between coaches and consumers, working together like the sides of a ladder.
The funding will support Ladder in advancing its product offerings and technology, ensuring its adaptability to various workout environments, whether at home or in the gym. While Ladder currently has no immediate plans for a Series B funding round, CEO Gregory Stewart notes that it may not be necessary in the near term. The platform’s approach to making fitness addictive and beneficial has resonated with investors, emphasizing its positive impact amid the prevalence of social media and smartphones.
Ladder plans to introduce its latest team in January, offering a combination of yoga and strength training. Additionally, the company envisions expanding its user base from experienced fitness enthusiasts to those new to exercise. The virtual strength training sector has seen increased interest and investment, with several notable funding rounds for companies focusing on remote coaching services for physical and emotional fitness.