One month to the day after MapMyFitness revealed a fresh $9m Series B funding round, the online health and fitness powerhouse has announced that it has edged past ten million registered members and is arranging a further $3m in financing from Square 1 Bank.
MapMyFitness is the Texas-based tech fitness firm behind the likes of MapMyRun.com, MapMyRide.com and MapMyWalk.com. Indeed, back in April we reported that on the company’s efforts to map the fittest states and cities in the US.
The company operates across the online and mobile sphere, and it has seen its revenue double in each of the past four years. It confidently projects this figure will almost triple in 2012, aided presumably by its latest investment.
“We’re thrilled to partner with Square 1 Bank to help continue our growth and expansion,” says Richard Jalichandra, CEO of MapMyFitness. “After surpassing the ten million registered user mark – including four million in only the past six months – our goal is to keep innovating ways for our members to keep improving their fitness, nutrition and overall health.”
This news comes, perhaps deliberately, just as the MapMyFitness annual Le Tour Challenge begins in conjunction with the Tour de France.
The Le Tour Challenge gives cyclists around the world the chance to compete against other athletes during the 2012 Tour de France, and allows users to choose the distance and ride that suits them with the chance to win over $55,000 in prizes, including a trip to Paris.