Health and fitness-centric online community DailyBurn has closed a $525,000 seed round of funding. FF Angel LLC (the early stage investment arm of Founders Fund) led the round, along with participation from individual angels.
Founded in 2007 as Gyminee, the startup officially rebranded itself DailyBurn and redesigned its site for better user access. DailyBurn members get free use of a food database that tracks calories, a workout journal to record weight loss, and shared exercise plans. A premium membership includes a meal planner, better nutritional stats and access to workouts developed by fitness professionals; CEO Andy Smith tells TechCrunch that the site had been successfully converting a high percentage of users to the premium plana factor that enticed investors.
DailyBurn has 125,000 members; it says they lose an average of about six pounds of fat (or gain about six pounds of muscle) each. Competitive sites include ifit.com, Traineo and even the niche WiiFitRoutine.com (for Wii Fit users).
By Tameka Kee