The company is launching new products so that instructors can use the platform to launch their own brands
Over the past year, the pandemic has changed all of our routines and the way we live our lives. The way we work, how we raise our children, even activities like going to the movies or dining out, have been completely changed, maybe forever. There is an opportunity associated with this disruption, however, and most spaces have found ways to adapt and change, virtually adapting what was once offline to the new world in which we live.
The fitness space is a particularly good example of this change, as surveys have shown that people enjoy exercising at home and plan to do so even after the virus is no longer a threat.
The shift from offline to online was seen even before the pandemic, but the trend was accelerated by COVID, said Jason Goldberg, CEO and founder of Moxie, a virtual fitness platform that announced a $ 6.3 million launch Thursday would have.
“Before the pandemic, there were trends in virtual fitness, and the pandemic forced everyone to adopt virtual fitness much faster. And the problem that we saw in it very quickly was how we can offer the best solution on both sides Marketplace, so both for fitness trainers who are displaced by the pandemic and can no longer go to their previous employer, the gym? How can we enable them to go from being a pre-pandemic fitness trainer working for someone else to being a fitness entrepreneur who will work for themselves during the pandemic? ”he said.
“Then on the consumer side, how can we enable everyone to achieve their own fitness mission and have a more convenient way to train and keep exercising with coaches who care about their wellbeing?”
On the instructor side, Moxie offers They have a full platform to host their classes, publish their schedules, and receive payments, both drop-in payments and subscription payments, packages. The courses themselves are hosted live on Moxie on a two-way, interactive streaming platform.
Instructors also have control over pricing with you Each instructor sets their own prices, be it for a one-time drop-in class declaration, a package of classes, or an unlimited subscription. The most popular plan at Moxie right now is the unlimited subscription, which ranges from $ 60 to $ 150 per month depending on the instructor.
On the consumer side, they have the option of attending group classes or private one-on-one classes with an instructor, although Goldberg says over 90% of the company’s usage is group classes and that is exactly what the app was optimized for.
“One of the things we discovered early on was that the reason people choose group fitness is because of the relationship and connection they have made with an instructor and the interactivity of it. People do group fitness because they want the social aspect and that is what you have set out to develop a solution that enables both the fitness trainer and the consumer to achieve these goals, “he told me.
“We felt that before COVID there were private training apps when people wanted to get private training. It’s an interesting area, but it wasn’t the biggest niche created by the pandemic. It was people who really did had built their entire routine around their daily fitness exercise, whether it was a yoga class, a pilates class, or an equinox class, and suddenly they couldn’t find that solution and we saw an opportunity, not just that to provide, but also to do it better. ”
Consumers are also in control of their privacy: they can choose who can see them, either everyone in the class, just the instructor, or no one at all. This helps people who may or may not be body conscious confident to train in front of other people to maintain the energy of the group class without exposing yourself to other people. In addition, moxie is also said to make it easier more interaction with clients and trainers.
“Since the relationship started online, everyone expects to use the online messages and keep track of how you are and get feedback between classes, and you don’t necessarily get that when you show up for an in-person fitness class.”
Moxie currently has several thousand instructors on the platform. with 8,000 teaching hours and 1 million teaching hours completed in March. Ö75% of Moxie users are female.
The company’s new round was led by Resolute Ventures, which included Bessemer Ventures, Greycroft Ventures, Gokul Rajaram and other investors including Bruce Bell from Square, Manik Gupta from Uber, Jay Parikh from Facebook and Mark Kingdon, as well as several early stage venture capital funds. Moxie had previously raised a $ 2.1 million starting round in October 2020, and this new funding totals $ 8.4 million.
The money will be used to start the second phase of the company. during the company The next year he focused on the core technology platform. This next phase will focus The consumer side not only helps instructors bring their own customers to Moxie, but it also builds their customer base. In particular tThis will come in the form of two new products, one of which will be launched in connection with the new funding round and the second will be launched later this year.
The product launch on Thursday is called Moxie Benefits, and it gives educators access to benefits like health insurance, dental and eyesight insurance, and life insurance.
“T.The one thing the instructors have asked us about over and over again this year was healthcare, “Goldberg said, noting that there were a number of instructors Consider going back and teaching at a gym, but only because teaching a certain number of classes per week or month could have health benefits.
“We just felt it was the right thing for the instructors. We want the instructors to feel that Moxie is an empowerment engine for them, that we are helping them build their business and helping them too to get the things that you and have to do by yourself. ” their families feel safe and secure. “
Moxie Benefits is created in partnership with Stride Health, a startup focused on connecting people with health plans under the Affordable Care Act. Stride has previously worked with companies like Uber, DoorDash, Lyft. Moxie is his first partner in the fitness space.
“Stride is a great first partner because they lead the gig economy with their work with Uber and DoorDash with Lyft. They’ve been working on this for these big companies for three or four years and have grown with them so you really have this as a process, which is why they have also negotiated a variety of specials and discounts available to their partners by aggregating how many gig employees are accessing the Stride platform, “explained Goldberg.
The second product the company plans to launch later this spring is Moxie Teams, which groups of trainers can team up with to start small businesses on the platform. In addition, consumers can choose from a wider range of classes and coaches under a single subscription.
The idea for this product came about when the team saw instructors Build their own businesses on the Moxie platform, invite other instructors to teach on their accounts.
“We’ve spent time talking to them, interviewing them, and we’ve learned that they really want to build the gym of the future right on Moxie. That includes multiple trainers who all work under the same brand. Often they are there different cities, in different states, in different parts of the world, but all under the same brand, and they can charge a single subscription for classes with a team, so we can also offer a variety of classes, “said Goldberg.
“Today at Moxie every account is basically an instructor. With Team you can have a yoga performance, a Pilates person, an extension person. You can really specialize in martial arts, taekwondo, tai chi, whatever.” Always Maybe, and someone else is doing group meditations, all under the one offering. Essentially, this is how you create your own virtual gym. And that you are able to team up. “
This new product will help Moxie achieve its ultimate vision, which is to be who it is calls an “empowerment platform” where any instructor can teach, anyone can join the platform, and instructors can build their own businesses and brands.
“We strive to be the platform on which the fitness studios of the future will be built for the next five to ten years. Whether online, offline or as a hybrid of both, we want to be the technology that makes this possible.”