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Expresso Fitness, the leading supplier of
interactive cardio fitness systems, announced recently that it
has raised $9.3 Million in a Series C round of funding. The
financing will be used to expand the Company’s sales and
production capabilities, driving revenue growth.
Sierra Ventures, a new investor to Expresso,
led the Series C funding. Sierra was joined by existing
investor, San Diego-based Enterprise Partners Venture Capital.
Jeff Loomans, Partner at Sierra Ventures,
has joined Expresso’s Board of Directors.
“With their formula of applying interactive
software to exercise equipment, Expresso is addressing a large
unmet need in the market” Loomans said. “The Sierra partners
believe that once people experience this new technology, they
won’t want to go back. You just can’t put the genie back in the
bottle!”
Erik Nierenberg, Enterprise Partners
Venture Capital and Expresso Board member noted, “Expresso
systems and content have demonstrated extraordinary market
acceptance in the short time since the Company.s Series B
financing. Expresso clearly has the right product at the right
time for the multi-billion dollar fitness industry. We.re
looking forward to an exciting 2007”
“We’ve had exciting results from our first
six months of selling the S2, the industry.s first truly
personalized indoor bike” commented Brian Button, Expresso’s
President and CEO. “This financing will help us build on our
success, expanding our sales and scale of production”
Expresso captivated the commercial fitness
industry with the launch of its two-part interactive cycling
system last year. Exercisers can now ride over 30 interactive
courses then use any Web browser to view their fitness results
online. The virtual-reality based routes bring the excitement of
biking outdoors to indoor fitness facilities; personalization
tools help members stay involved and motivated. As a result,
riders of Expresso bikes have logged almost 300,000 miles in
over 80,000 sessions.
Sunnyvale, CA-based Expresso Fitness was
founded in 2003 with the mission of satisfying an exerciser’s
need for an engaging and effective cardiovascular fitness
experience. The company leverages the benefits of superior
interactive technology at an affordable cost to provide the
health, sports and fitness industry with fully integrated,
virtual reality-enhanced cardio fitness systems and
revenue-generating customer services. Bringing together virtual
reality, stationary bike equipment and personalization tools
into single, commercial-grade cycling systems, Espresso’s first
line of products are revolutionizing indoor exercise
For more information, please visit
www.expressofitness.com |