Issue No. 215: That’s a Wrap

Illustration: Courtney Powell

Hey gang — happy holidays!

We know it’s a busy time of year, so we’ll keep it brief today.

First things first, thanks for spending time with us every Tuesday. This community and the caliber of people in it is truly incredible.

More impressive, your passion for and commitment to helping people live healthier lives continues to inspire us toward the same goal.

Looking back on 2022, we reached some exciting milestones…

  • 150th podcast
  • 200th newsletter
  • 20th Fitt Capital investment
  • 1st acquisition, adding WellToDo

… and we’re just getting started.

Heading into the new year, we’re working hard to make this platform even more valuable — from content to community to capital.

With that comes one of the most exciting developments: We’re building a world-class team to help us scale Fitt Insider’s impact and support Fitt Capital as we raise the next fund.

We’ll have more details to share soon, but before we do, we’re taking a little break. There will be no email next Tuesday 1/3.

Until next time, catch up on some of the content you may have missed this year: newsletter archivepodcastinterview Q&As, and more.

See you next year!

Anthony, Joe, and the Fitt Insider team

💪 Arketa scales up monetization tools for fitness studios and creators

With hybrid exercise here to stay, gyms, apps, and independent creators need to find common ground.

On the Fitt Insider Podcast: Arketa co-founder & CEO Rachel Lea Fishman discusses her platform equipping health & wellness businesses with the tools they need.

We also cover: its $7.6M funding round and the opportunity beyond class booking.

Listen to today’s episode here

📺 Netflix enters fitness, adds Nike Training Club workouts

The details: Starting December 30, Netflix members will have access to more than 90 workouts from Nike Training Club, the apparel company’s digital fitness platform.

Featuring more than 30 hours of content, sessions are geared toward different ability levels and fitness modalities—from yoga to strength training to HIIT—all requiring minimal space/equipment.

What it means: Over the years, numerous platforms claimed to be the “Netflix of fitness.” Now, the streaming giant may be vying for that title.

  • Launched in 2020, Apple has expanded Fitness+ to iPhone users in 21+ countries.
  • In 2021, Samsung invested in obé fitness, expanding the library of health content on its smart TVs.
  • This summer, Equinox partnered with Google TV and Android TV OS devices to distribute its digital fitness content.

TBD. As Peloton rethinks its product and pricing strategy, teaming with a Netflix-like platform to showcase its high-quality content and A-list instructors could create a new entry point into its digital/equipment ecosystem.

Punchline: Netflix is hoping the addition of workout content helps it attract/retain members by increasing the perceived value of its subscription. All streamers, for that matter, could become powerful distribution partners for digital fitness brands.

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🏈 Expanding its product line, NOBULL lands NFL investment

NFL owners voted to back the apparel and footwear brand during the league’s annual winter meeting. Terms of the deal were not disclosed.

Of note, team owners also committed another $160M to 32 Equity, the league’s investment arm which has funded Hyperice, Genius Sports, Fanatics, and others.

For context: Founded in 2015 by former Reebok execs, NOBULL gained traction as a no-frills performance brand with a sweet spot for CrossFit.

But recently, the company has been thinking outside the box with its gear… to promising results. In 2021, NOBULL reached a $500M valuation on 80% YoY growth while developing gear for a wider range of athletes:

  • 2018: It launched running shoes, its first footwear extension beyond its signature gym shoe.
  • 2020: It debuted a clip-in cycling shoe compatible with Peloton bikes.
  • 2021: NOBULL entered performance swimwear.
  • 2022: The brand launched a “maximalist” runner (à la HOKA), a GORE-TEX trail runner, an NFL-approved turf trainer, and a court trainer for tennis and pickleball

Athlete-approved. In addition to claiming Reebok’s vacated title sponsorship of the CrossFit Games, this year, NOBULL became the official training apparel partner of the NFL Combine and PGA Tour.

It has also been on an endorsement spree, signing NFL QBs Will Grier and Mac Jones, Olympic swimmer Caeleb Dressel, and NHLer Nathan McKinnon.

Punchline: NOBULL is picking up the pace, all while keeping functional training as its backbone — proving performance is a big sell across the $66B global athletic footwear market.

📰 News & Notes

  • Peloton rolls out “certified refurbished” bikes.
  • Hard kombucha brand JuneShine opens NYC taproom.
  • Under Armour names former Marriott president to CEO role.
  • Fitt Jobs: Health & fitness companies hiring in the new year.
  • Campsites report record-breaking year, link to mental health.
  • Simone Biles cuts ties with mental telehealth platform Cerebral.
  • Startup Q&A: FitRankings CEO Patrick Hitchins on interoperability.
  • EMS training franchise OHM Fitness strikes deal for 30+ locations.

💰 Money Moves

  • Athletic footwear and apparel brand NOBULL raised undisclosed funding from 32 Equity, the investment arm of the NFL.
  • CLMBR, creators of a connected vertical climbing machine, secured an undisclosed Series B investment.
    More from Fitt Insider: The Connected Fitness Report
  • Professional Triathletes Organisation, operator of international triathlon events, closed a $30M Series B round led by Divergent Investments.
  • Designer Brands, owner of retailer DSW, acquired outdoor running shoe brand Topo Athletic.
  • Vanna Health, a platform supporting those with serious mental illness, raised $29M in a funding round.
  • Foodtastic, a Canadian quick-service restaurant franchisor, acquired healthy fast-casual chain Freshii for CA$74.4M ($54.5M).
  • Wellable, an employee wellness platform, acquired DailyEndorphin, a platform for corporate wellness challenges.
  • Private equity firm Butterfly acquired Milk Specialties, supplier of whey protein ingredients to nutrition companies.

Today’s newsletter was brought to you by Anthony Vennare, Joe Vennare, and Ryan Deer.

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