GET HCM
magazine
Sign up for the FREE digital edition of HCM magazine and also get the HCM ezine and breaking news email alerts.
Not right now, thanksclose this window
JP Lennard
JP Lennard
JP Lennard
Follow Health Club Management on Twitter Like Health Club Management on Facebook Join the discussion with Health Club Management on LinkedIn Follow Health Club Management on Instagram
UNITING THE WORLD OF FITNESS
Health Club Management

Health Club Management

News

Perlman and Pasternak advise Silofit on microgym rollout after US$12m investment

Silofit has raised a total of US$12.25m of funding
The investment will support its plans to expand its network of microgyms into key US markets
Canada-based firm currently has 20 "Silos" across Montreal and Toronto
It now plans to create 50 Silos across five US cities

Silofit has raised a total of US$12.25m of funding, which it will invest in establishing a network of microgyms in key US markets.

The Canadian company turns small office spaces into high-end, private microgyms – which it calls "silos” – which are then used by fitness trainers and their clients, as well as individual gym-goers.

Silofit currently has 20 locations across Montreal and Toronto in Canada and more than 12,000 users and 3,000 trainers who are active on the Silofit app.

The funding is a combination of a US$10.25 Series A round, led by Whitecap Venture Partners and US$2m (CAD$2.5m) worth of debt financing from Silicon Valley Bank.

New investors in the funding round have also provided Silofit with strategic fitness support, with Zumba Fitness founder Alberto Perlman and celebrity trainer and nutritionist Harley Pasternak joining the company as strategic advisors – providing support relating to personal training, gym design, and certification.

The Series A brings the total funds raised by Silofit to date to CAD$19.4m.

The company will use the new funds to support its expansion to the US market, which includes opening 50 new Silos across five US cities, beginning with Miami and Chicago.

Silofit will also be establishing a new, US headquarters in Miami.

Wilfred Valenta, CEO and co-founder of Silofit, said: “This is an exciting time for Silofit with three investors returning for this round of funding, plus the strategic and influential support of notable new investors as we establish Miami as our US headquarters and the first city for our US expansion."

Silofit has also signed a commercial agreement with Technogym, which will see Silofit exclusively use Technogym equipment.

Sign up here to get HCM's weekly ezine and every issue of HCM magazine free on digital.
Silofit has raised a total of US$12.25m of funding, which it will invest in establishing a network of microgyms in key US markets.
HAF,FIT,IND,PTS
2021/THUMB348246_209104_483139.jpg
Latest News
More than 110,000 premature deaths could be prevented each year in the US if adults ...
Latest News
Boutique boxing gym brand BXR London will open its second full-service club in London next ...
Latest News
Entries are now open for the annual UK Active Awards. Following two years of unparalleled ...
Latest News
People with early-stage Parkinson’s should do regular exercise to slow down the progression of the ...
Latest News
Hybrid fitness platform FitLab has closed its Series A financing, bringing total capital raised to ...
Latest News
Boutique chain Trib3 will become one of the first fitness operators to establish a presence ...
Latest News
At-home fitness brand NordicTrack from iFIT has launched what it says are the first voice-controlled, ...
Latest News
The Workforce State of Mind Survey, now in its second year, has begun to gather ...
HCM Magazine
Statistics
Operators are adding new services, with the top five being wellness, nutrition, massage therapy, physical therapy and meditation
HCM Magazine
HCM People
I don’t want to compete with gyms, I want to complement them. We’re going to places where they’re not – parks, schools and cul-de-sacs
HCM Magazine
Sponsored
Life Fitness has launched a new mobile app, called Life Fitness Connect, to provide the ultimate workout experience
HCM Magazine
Sponsored
Fitronics’ new member journey software is supporting the University of Oxford in improving its services for users
HCM Magazine
Sponsored
Leisure operators should embrace activity to engage members says Jenny Patrickson, managing director of Active IQ
HCM Magazine
Interview
‘People are choosing bricks and mortar, and they’re coming back faster than we’ve ever seen.’ The CEO of Planet Fitness speaks to Kate Cracknell
HCM Magazine
Interview
SATS is on a mission to help people of all ages become healthier and happier, with a focus on creating a product where the barriers to entry are low and the value to society high. Its CEO speaks to Kate Cracknell
HCM Magazine
HCM magazine
Code Fitness has partnered with body composition experts Tanita to put analysis at the heart of its programmes
HCM magazine
Florence Nightingale played an important role in the fitness industry and if she were still with us, she’d certainly be campaigning for fitness trainers to be fully involved in combating the effects of lockdown, says Muir Gray
HCM magazine
Fuel the debate about issues and opportunities across the industry. We’d love to hear from you – [email protected]
Featured supplier news
Featured supplier news: Énergie Fitness appoints Technogym as equipment partner
Peter Croney CEO of Empowered Brands, owners of Énergie Fitness Group, today announced the appointment of Technogym as one of their primary equipment partners that will help power Energie’s international expansion over the next decade.
Featured supplier news
Featured supplier news: Danny Williams, Michael Griffiths and Reshmin Chowdhury take up TRAINFITNESS’ free PT courses
2021 has been dubbed the year of the ‘Great Resignation’, with numerous people in the UK reassessing their career path.
Featured operator news
Featured operator news: Innovative experience TAGactive launched at Everyone Active
Everyone Active opened its first TAGactive Arena at Lammas Leisure Centre on Bank Holiday Monday, January 3.
Featured operator news
Featured operator news: Double Olympic Champion Rebecca Adlington breaks ground ahead of new Rainham Leisure Centre
Everyone Active has got the New Year off to a flying start as it begins work on the brand new Rainham Leisure Centre.
Video Gallery
Total Vibration Solutions / Floors 4 Gyms / TVS Sports Surfaces
Mindbody, Inc
Sport Alliance GmbH
Company profiles
Company profile: Proinsight Mystery Shopping
We take time at the outset to understand your unique customer journey. Then we work ...
Company profiles
Company profile: Everyone Active
Everyone Active operates leisure centres in partnership with local councils across the UK. Today, Everyone ...
Catalogue Gallery
Click on a catalogue to view it online
Directory
Wearable technology solutions
MyZone: Wearable technology solutions
Spa software
SpaBooker: Spa software
Management software
Premier Software Solutions: Management software
Exercise equipment
Matrix Fitness: Exercise equipment
Whole body cryotherapy
Art of Cryo: Whole body cryotherapy
Skincare
Sothys: Skincare
trade associations
International SPA Association - iSPA: trade associations
Flooring
Total Vibration Solutions / TVS Sports Surfaces: Flooring
Lockers/interior design
Crown Sports Lockers: Lockers/interior design
Salt therapy products
Himalayan Source: Salt therapy products
Property & Tenders
Bilborough, Nottingham
Bilborough College
Property & Tenders
Welwyn Garden City
Welwyn Hatfield Borough Council
Property & Tenders
Diary dates
01-03 Feb 2022
Coventry Building Society Arena, Coventry, United Kingdom
Diary dates
01 Mar 2022
Live Love Spa HQ, Tustin, United States
Diary dates
07-10 Apr 2022
Exhibition Centre , Cologne, Germany
Diary dates
15-16 Jun 2022
ExCeL London, London, United Kingdom
Diary dates
01-07 Dec 2022
tbc, Dunedin, New Zealand
Diary dates

News

Perlman and Pasternak advise Silofit on microgym rollout after US$12m investment

Silofit has raised a total of US$12.25m of funding
The investment will support its plans to expand its network of microgyms into key US markets
Canada-based firm currently has 20 "Silos" across Montreal and Toronto
It now plans to create 50 Silos across five US cities

Silofit has raised a total of US$12.25m of funding, which it will invest in establishing a network of microgyms in key US markets.

The Canadian company turns small office spaces into high-end, private microgyms – which it calls "silos” – which are then used by fitness trainers and their clients, as well as individual gym-goers.

Silofit currently has 20 locations across Montreal and Toronto in Canada and more than 12,000 users and 3,000 trainers who are active on the Silofit app.

The funding is a combination of a US$10.25 Series A round, led by Whitecap Venture Partners and US$2m (CAD$2.5m) worth of debt financing from Silicon Valley Bank.

New investors in the funding round have also provided Silofit with strategic fitness support, with Zumba Fitness founder Alberto Perlman and celebrity trainer and nutritionist Harley Pasternak joining the company as strategic advisors – providing support relating to personal training, gym design, and certification.

The Series A brings the total funds raised by Silofit to date to CAD$19.4m.

The company will use the new funds to support its expansion to the US market, which includes opening 50 new Silos across five US cities, beginning with Miami and Chicago.

Silofit will also be establishing a new, US headquarters in Miami.

Wilfred Valenta, CEO and co-founder of Silofit, said: “This is an exciting time for Silofit with three investors returning for this round of funding, plus the strategic and influential support of notable new investors as we establish Miami as our US headquarters and the first city for our US expansion."

Silofit has also signed a commercial agreement with Technogym, which will see Silofit exclusively use Technogym equipment.

Sign up here to get HCM's weekly ezine and every issue of HCM magazine free on digital.
Silofit has raised a total of US$12.25m of funding, which it will invest in establishing a network of microgyms in key US markets.
HAF,FIT,IND,PTS
2021/THUMB348246_209104_483139.jpg

News

More than 110,000 premature deaths could be prevented each year in the US if adults
Boutique boxing gym brand BXR London will open its second full-service club in London next
Entries are now open for the annual UK Active Awards. Following two years of unparalleled
People with early-stage Parkinson’s should do regular exercise to slow down the progression of the
Hybrid fitness platform FitLab has closed its Series A financing, bringing total capital raised to
Boutique chain Trib3 will become one of the first fitness operators to establish a presence
Precor UK
Precor UK
Peter Croney CEO of Empowered Brands, owners of Énergie Fitness Group, today announced the appointment
At-home fitness brand NordicTrack from iFIT has launched what it says are the first voice-controlled,
The Workforce State of Mind Survey, now in its second year, has begun to gather
Wellness operator and fit tech company, LIT Method, (low-intensity training) is ramping up expansion after
Planet Fitness has signed an agreement to acquire Sunshine Fitness – an operator of 114
People living in London have been advised to avoid or reduce strenuous exercise today (Friday
A marketing partnership between fitness marketplace Hussle and fast-food giant McDonald's resulted in a significant
FIBO Exhibition
FIBO Exhibition
An increasing number of gym and studio owners are realising that the days of them
The UK government should encourage – and make it easier – for doctors and other
Mark Sesnan, co-founder and CEO of GLL, has been awarded an OBE in the New
4 Global – a partner in the Moving Communities initiative – has completed an initial public
Myzone has secured a US$17.2m worth of investment from growth capital investor BGF – a
The Cleveland Clinic’s chief wellness officer Michael Roizen predicts longevity will become the next major
Physically active people are 50 per cent more likely to develop higher levels of antibodies
Innovatise UK Ltd
Innovatise UK Ltd
No two gyms are the same, but making the most of artificial intelligence (AI) and
United Fitness Brands (UFB) has added London-based operator Triyoga to its portfolio. Triyoga, which operates
Wearable technology, outdoor exercise activities and strength training are among the trends expected to shape
Les Mills
Les Mills
1 - 20 of 12,131
HCM Magazine
Statistics
Operators are adding new services, with the top five being wellness, nutrition, massage therapy, physical therapy and meditation
HCM Magazine
HCM People
I don’t want to compete with gyms, I want to complement them. We’re going to places where they’re not – parks, schools and cul-de-sacs
HCM Magazine
Sponsored
Life Fitness has launched a new mobile app, called Life Fitness Connect, to provide the ultimate workout experience
HCM Magazine
Sponsored
Fitronics’ new member journey software is supporting the University of Oxford in improving its services for users
HCM Magazine
Sponsored
Leisure operators should embrace activity to engage members says Jenny Patrickson, managing director of Active IQ
HCM Magazine
Interview
‘People are choosing bricks and mortar, and they’re coming back faster than we’ve ever seen.’ The CEO of Planet Fitness speaks to Kate Cracknell
HCM Magazine
Interview
SATS is on a mission to help people of all ages become healthier and happier, with a focus on creating a product where the barriers to entry are low and the value to society high. Its CEO speaks to Kate Cracknell
HCM Magazine
HCM magazine
Code Fitness has partnered with body composition experts Tanita to put analysis at the heart of its programmes
HCM magazine
Florence Nightingale played an important role in the fitness industry and if she were still with us, she’d certainly be campaigning for fitness trainers to be fully involved in combating the effects of lockdown, says Muir Gray
HCM magazine
Fuel the debate about issues and opportunities across the industry. We’d love to hear from you – [email protected]
HCM magazine
Premier Gym + Fitness, based in Newton Abbot, Devon, has opened its doors to the public thanks to the help and support of Pulse Fitness
HCM magazine
Most consumer-facing sectors have standards to reassure customers on matters of safety and quality. Now it’s the turn of our industry to go through this rite of passage
HCM magazine
Exercise has been found to power up the body’s production of endocannabinoids and reduce chronic inflammation, explains Tom Walker
HCM magazine
HCM People

Alex Nicholl

MD, Sweat by BXR
We were fortunate to be approached by Sheikh Mohammed – a Qatari entrepreneur – to develop the club
HCM magazine
With a business model that fuses art, fitness and music, RSG’s flagship brand – John Reed – has opened its first location in the UK, as Liz Terry reports
HCM magazine
As we wrap up 2021, flooring suppliers share their most exciting projects and launches from the past year
HCM magazine
Featured supplier news
Featured supplier news: Énergie Fitness appoints Technogym as equipment partner
Peter Croney CEO of Empowered Brands, owners of Énergie Fitness Group, today announced the appointment of Technogym as one of their primary equipment partners that will help power Energie’s international expansion over the next decade.
Featured supplier news
Featured supplier news: Danny Williams, Michael Griffiths and Reshmin Chowdhury take up TRAINFITNESS’ free PT courses
2021 has been dubbed the year of the ‘Great Resignation’, with numerous people in the UK reassessing their career path.
Featured operator news
Featured operator news: Innovative experience TAGactive launched at Everyone Active
Everyone Active opened its first TAGactive Arena at Lammas Leisure Centre on Bank Holiday Monday, January 3.
Featured operator news
Featured operator news: Double Olympic Champion Rebecca Adlington breaks ground ahead of new Rainham Leisure Centre
Everyone Active has got the New Year off to a flying start as it begins work on the brand new Rainham Leisure Centre.
Video Gallery
Total Vibration Solutions / Floors 4 Gyms / TVS Sports Surfaces
Mindbody, Inc
Sport Alliance GmbH
Company profiles
Company profile: Proinsight Mystery Shopping
We take time at the outset to understand your unique customer journey. Then we work ...
Company profiles
Company profile: Everyone Active
Everyone Active operates leisure centres in partnership with local councils across the UK. Today, Everyone ...
Catalogue Gallery
Click on a catalogue to view it online
Directory
Wearable technology solutions
MyZone: Wearable technology solutions
Spa software
SpaBooker: Spa software
Management software
Premier Software Solutions: Management software
Exercise equipment
Matrix Fitness: Exercise equipment
Whole body cryotherapy
Art of Cryo: Whole body cryotherapy
Skincare
Sothys: Skincare
trade associations
International SPA Association - iSPA: trade associations
Flooring
Total Vibration Solutions / TVS Sports Surfaces: Flooring
Lockers/interior design
Crown Sports Lockers: Lockers/interior design
Salt therapy products
Himalayan Source: Salt therapy products
Property & Tenders
Bilborough, Nottingham
Bilborough College
Property & Tenders
Welwyn Garden City
Welwyn Hatfield Borough Council
Property & Tenders
Diary dates
01-03 Feb 2022
Coventry Building Society Arena, Coventry, United Kingdom
Diary dates
01 Mar 2022
Live Love Spa HQ, Tustin, United States
Diary dates
07-10 Apr 2022
Exhibition Centre , Cologne, Germany
Diary dates
15-16 Jun 2022
ExCeL London, London, United Kingdom
Diary dates
01-07 Dec 2022
tbc, Dunedin, New Zealand
Diary dates
Search news, features & products:
Find a supplier:
JP Lennard
JP Lennard
Partner sites