Funding Tampa

Tampa Area Corporate Titans Back Startup, Peerfit

Tampa Bay Lightnings Owner Jeff Vinik and Outback Steakhouse’s Chris Sullivan Back Peerfit

peerfit-top Tampa Area Corporate Titans Back Startup, Peerfit

Peerfit is a digital health platform that connects employers to a network of boutique fitness studios and health clubs. When a business signs up for Peerfit, the company’s employees have access to vast number of classes that these fitness studios and health clubs offer. Company’s only pay for Peerfit when their employees use the system. It’s a great way to offer one of the most sought after employee benefits, and not be tied down to one fitness provider.

Peerfit relocated to Tampa Bay after participating in the Healthbox Startup Accelerator hosted at Tampa Bay Wave in 2014. There, they were able to fine tune their product and grow important relationships that have helped lead them to where they are today.  In 2016 the company raised $1.56M dollars that they used to grow the business.

This week they closed out a $2.3M bridge round, bringing their total funding to $5 million dollars since they started the company in 2011.

Some of Tampa Bay’s most notable investors participated in this round. NHL’s Tampa Bay Lightnings owner, Jeff Vinik led the round, alongside Outback Steakhouse founder Chris Sullivan. Vinik continues to increase his stake in local startup activity. Earlier this year we reported that Vinik was able to help Tampa Bay Wave, the area’s startup incubator and startup hub, expand to a second location.  Also earlier this year, Vinik backed Threshold 360 a Tampa based startup that gives virtual tours of restaurants and businesses.

Industry veterans and innovators also contributed to the round, including two investors from New York City-based Frenkel Benefits, one of the largest independent employee benefit brokerage and benefit administration firms in the United States. Frenkel Benefits President Craig Hasday and Executive Vice President Adam Okun invested during the round. Rich Gallun, co-founder and former CEO of Chicago-based bswift, an industry leader in cloud-based technology and services for employee health benefits, also invested. Bswift was acquired by Aetna in 2014.

Digital health innovator Joseph Hodges, founder and president of Tampa-based INETICO and Care Valet, backed Peerfit during the round. Hodges is an industry pioneer who has created solutions that drive employee health and wellness initiatives while stabilizing health plan costs.

“After closing our Series A round in the fall of 2016, we were able to meet many of our sales goals quicker than anticipated. This bridge round will help us to carry forward our vision to redefine wellness for carriers and employers across the nation,” said Ed Buckley, III, Ph.D., CEO of Peerfit in a statement.

The response to Peerfit has been very favorable. They’ve recently expanded their service offerings in New York City, Los Angeles and Portand Oregon. With this newly injected capital they hope to expand to more major markets in the coming months.

Check out Peerfit here.