Neha Motwani, (CEO, Co Founder ) Fitternity, says “We used to get almost 500,000 monthly active users on our platform. We have just seen a 20% hit. So, there is a massive set of users who are still consuming, and still working out.” The physical activity industry is worth more than $800 billion worldwide, but that was before the pandemic. Now, it is reinventing itself as covid-19 continues to spread. The demand for online fitness classes is increasing steadily.
Fitternity is a Mumbai based fitness discovery and booking platform that offers an integrated eco-system to help customers start & sustain their fitness journey. It was founded in 2013 by Neha Motwani and Jayam Vora. It is now the largest online marketplace for fitness services in India. It offers bookings across 17+ categories of fitness services & over 12,000 fitness centres and sports facilities across many Indian cities namely Mumbai, Delhi, Gurgaon, Bangalore, Pune, Hyderyabad and more.
The company has raised a total of $7.5M in funding over 6 rounds. Their latest funding was raised on Aug 28, 2019 from consumer-focused venture fund Sixth Sense Ventures in Series A round. It has been invested into by other investors such as Exfinity Venutre Partners, Patni Family Office, SAHA fund and others.
It provides services through interactive livestream group classes, recorded video sessions from fitness experts, personal training and more. Customers get information like photos, videos, descriptions and services available for every fitness centre with ratings & reviews which helps in informed decision making for the user. The company launched an offer which enables users to get unlimited access to its network of fitness and sports facilities through a single membership called OnePass. Fitternity wanted to pursue virtual fitness in 2021 but circumstances now made them build and launch it faster. During the lockdown, it has come up with One Pass Virtual which is appropriate for people who are working out at home and want to explore different fitness classes.
The company boasts of a user base of 10 million customers who have started their fitness journey using Fitternity app/website. It has the highest monthly active users base of 5L+ and daily active users base of 31,000. It charges about 60% to 70% of the regular in-person fee for online workouts and has only seen about a 20% dip in active user numbers. Despite hundreds of thousands of fitness enthusiasts pivoting to online classes, the company still expects a 40% decline in annual net revenue.
Neha Motwani believes people will not be interested to go back to in-person classes they used once lockdowns are lifted. “We are not going to see January 2020 (attendance) back again in July or August or September, because there are going to be social distancing norms. We actually believe that only 25% to 30% of the members will be able to work out (in a gym) at any given point of time. We also believe that members will be themselves very preventive and may not want to step out and be in a gym or in a studio,” Motwani said.
According to Jayam Vora, Co-founder, Fitternity, the surge in online fitness platforms will enable brands to adapt virtual platforms into a main revenue stream post the lockdown. “Video on demand (VOD) will be an entry funnel to get a lot of health-conscious users to deepen their experience online.”