California fitness app PEAR takes home $5M in Series B round
PEAR Sports has raised $5 million in its second financing to back its marketing campaigns for its interactive fitness products. Innovate Partners and Nordic Ventures led the said round. Smart TV firm VIZIO has also contributed to the funding, according to VentureBeat.
PEAR founder and chief executive officer (CEO) Bob Allison said in a press release: "Adding VIZIO to the investor group is a significant step in PEAR's development, validating the brand's rapid growth."
The fitness app maker will use the new capital to beef up its marketing efforts for its app. It will also start selling a white-label version of the technology to third-party retailers, which include sports brands, training groups, and weight loss companies, the report detailed.
The PEAR is a mobile app that functions like a live personal trainer which offers personalized workout programs based on the user's capabilities and heart rate. The heart rate-detecting technology could later on be integrated into Smart TVs to create interactive living room workout sessions for PEAR's customers. PEAR is the first health tracker to focus on coached workouts, VentureBeat reported.