Social fitness app GoJoe announces a £1.2M investment from Superbet Ventures, Animoca Brands and ex-Manchester United footballer Michael Carrick Diageo, PayPal, Experian and Amazon are among the big names already using the GoJoe app for their employees worldwide
22 MARCH 2022, LONDON
GoJoe, the first social fitness app for work and play, today announces its most recent investment of £1.2 million, led by Superbet Ventures.
Other investors in the seed round include European early stage venture capital investorHellen’s Rock, the global web3 and gaming company Animoca Brands and professional athletes including ex-Manchester United captain Michael Carrick.
Based on a gamified and AI-based platform which links to users’ wearable devices, GoJoe is a hybrid consumer and B2B app which enables workplaces and brands to connect and engage their people.
Aimed, for now, at replacing dated step challenges and expensive under-utilised corporate wellness platforms, GoJoe collaborated with Stanford University on psychology, data and gamification to build the app. GoJoe combines wearables, expert/celebrity content and unique team-based challenges and experiences to socialise everyday solo exercise for the masses of ‘ordinary joes’ and help people stick to their fitness and wellbeing journeys.
GoJoe has experienced significant growth on its corporate product, with 400% year on year growth in 2022, and with clients including Amazon, Diageo, Experian and PayPal, similar growth is expected in 2023. Companies using GoJoe have seen over 91% of employees feel more socially connected, over 88% experienced increased employee engagement (up to x4 higher than regular employee engagement platforms) and 84% said there was an increased positive intent towards the employer (which positively impacts retention).
Founded by two ‘ordinary joes’ who lived together at university and created an annual sporting event with teams of friends, GoJoe’s co-founders, CEO Will Turner and COO Phil Steele felt that there was a gap in the market for a more social product to help the global masses of 'ordinary joes' get motivated and to make exercise more enjoyable. Together with technical co-founders Costi Predescu and Mihai Bucse, they created the GoJoe app.
Speaking on the investment, Paul Neagoe, VC at Superbet Ventures says: “We are excited to become strategic investors, convinced by the vision of GoJoe’s founders. They are exactly the type of start-up that we are looking for in the venture capital market. Having an unique and highly scalable business model, found at the cross-roads of wellbeing, sports and social apps, GoJoe has an impressive potential of organic growth with a wide range of demographics.”
GoJoe co-founders Will, Phil, Costi and Mihai add:“We’re delighted to be bringing on board some incredible investors as part of this round, ranging from consumer brands, gaming companies and strategic angels. We’re a product built for people, regardless of whether they are using it in or out of work. On the B2B side, we’ve always known that there was a massive opportunity to build something better than the tired and un-engaging step-based products wheeled out by workplaces. This round will enable us to significantly scale and internationalise our B2B SaaS product, offering workplaces a new, innovative way to connect and engage their employees and give their staff something they actually love using”.
Bev White, CEO of global professional services organisation Nash Squared, commented: “We’re a global organisation with people at our heart. GoJoe has helped connect our colleagues together and promote wellbeing in a unique, memorable way”.
Yat Siu, the executive chairman and co-founder of Animoca Brands, commented:“We are very pleased to invest in GoJoe, which sits at the intersection of gamification, community and fitness. GoJoe’s model and roadmap are based on incentivising and rewarding both creators and users, and its traction on the B2B side reflects a significant opportunity for mass adoption in the B2B2C space”.
To date, GoJoe has raised over £1.3 million in funding from a wider pool of angels and fundsincluding Olympian Alistair Brownlee MBE and individuals from private and NHS healthcare.