Mirror, the fitness technology company, announced that it has closed $13 million in financing.
Funding was led by Spark Capital, with participation from Lerer Hippeau, First Round Capital, Primary Venture Partners, BoxGroup and Brainchild Holdings. Mirror will dedicate resources to accelerating product development and to expanding its in-house content production.
Mirror’s connected fitness system combines a sleek, responsive display with best-in-class content to bring the boutique studio experience in-home. Users receive access to an evolving selection of live and on-demand classes across a variety of genres, including cardio, strength training and yoga.
Mirror is the culmination of decades of experience in the boutique fitness space by Brynn Putnam, a former New York City Ballet dancer and founder of Refine Method, one of New York’s most acclaimed fitness studios. Putnam is now applying her deep expertise, as both an entrepreneur and a professional athlete, to disrupt the booming $83 billion global fitness industry.
“After decades on the frontlines of fitness, I have seen first-hand the critical need for an at-home fitness option that doesn’t require compromising quality for convenience,” Brynn Putnam, founder and CEO, said. “Mirror addresses that need, by delivering the variety, personalization and interactivity of the studio experience directly into members’ homes. We’re thrilled to have such an extraordinary group of investors to help bring this vision to scale.”
The boutique fitness studio industry is the fastest growing segment of the fitness market; high quality instruction is able to command a price premium and client loyalty. Meanwhile, 70 percent of exercisers still work out at home. This sharp rise in specialized fitness and the scale of the at-home market points to this generation’s need for variety and personalization without sacrifice for convenience.
“Brynn and her team are innovating in new ways across content, software and hardware,” said Kevin Thau, general partner at Spark Capital. “Mirror is positioned to become the leading platform for personalized in-home fitness and wellness.”
