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
Precor UK
Precor UK
Precor UK
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

Myzone sets a course for unicorn status as investment from BGF values the brand at US$102m

Myzone has secured a US$17.2m worth of investment from growth capital investor BGF
The investment values the brand at US$102m
The BGF cash injection is coupled with a separate investment by tech entrepreneur, Vin Murria
Murria, a respected tech entrepreneur, will join Myzone as non-executive chair
In three to five years' time, we're looking to have achieved a US$400-500m valuation and are likely to do an IPO. Ultimately we're aiming to become one of the first unicorns in our industry
– Dave Wright, founder, Myzone
Credit: Myzone

Myzone has secured a US$17.2m worth of investment from growth capital investor BGF – a move that values the brand at US$102m. The deal is all equity-based.

The BGF cash injection is coupled with a separate £2.5m investment by Vin Murria, which will also see the renowned tech entrepreneur join Myzone as non-executive chair.

Founded in 2011 by entrepreneur Dave Wright, Myzone specialises in wearable fitness technology for the business to business activity and wellness markets and has grown to serve more than 9,000 facilities in 84 countries, reaching two million consumers.

Last year (2021), Myzone launched MZ-Switch – the world’s first interchangeable heart rate monitor, which offers users the choice of wearing the tracker on the chest, arm or wrist.

Speaking exclusively to HCM, Wright said the investment and appointment of Vin Murria as chair is a logical step in the brand's journey towards further growth – which is likely to include an IPO.

"I was really keen to bring someone in who I can learn with and learn from – and someone who can help us further professionalise our business," Wright said of Murria.

"In three to five years' time, we're looking to have achieved a US$400-500m valuation and are likely to do an IPO. Ultimately we're aiming to become one of the first unicorns in our industry [achieving a billion-dollar (US) valuation].

Wright said Myzone is opening a new office in Mexico and plans to grow through acquisition, organic growth and by entering new markets.

The plan is to continue to target the business to business sector and there are no plans to extend into consumer markets, he said.

In terms of vertical markets, Myzone is targeting its existing sectors, as well as driving into the corporate wellbeing and school and education markets and acting as a bridge between the activity and medical sectors.

Phil Whittam, Myzone MD, added: “We've been in a very fortunate position in that we've grown organically to date, without the need for external capital.

"We needed an experienced partner that could accelerate our growth plans.

“We're particularly delighted that Vin Murria has also decided to invest in the company.

"Vin is a visionary leader in the technology world and has built numerous tech businesses. In 2018, she was awarded an OBE (Officer of the Order of the British Empire) for services to the British digital economy, as well as for advancing women in the software sector.”

BGF invested more than £100m in tech businesses during 2021 and announced seven successful exits in the same period.

Myzone has secured a US$17.2m worth of investment from growth capital investor BGF – a move that values the brand at US$102m. The deal is all equity-based.
TEC,SAR,HAF,FIT,IND,PTS,SAB,CPW,CAS,PHR
2022/THUMB348994_13428_743504.jpg
Latest News
Hyatt is piloting private gyms in five of its US hotels as part of its ...
Latest News
A young girl has died following an incident at the David Lloyd gym at Capability ...
Latest News
New fitness franchise, Circuit Society, has signed its first London location in Bayswater. The 3,000sq ...
Latest News
Active Nottingham, part of Nottingham City Council, has released a children’s book called Can We ...
Latest News
The new £42m Moorways Sports Village will open its doors to the public on Saturday ...
Latest News
Fitness industry veteran Harm Tegelaars has returned to the fitness industry by joining the board ...
Latest News
Planet Fitness saw its Q1 2022 revenue increase by 66.9 per cent (to US$186.7m) on ...
Latest News
Sport England and UK Active have signed a five-year partnership agreement which will see the ...
HCM Magazine
HCM People
Our goal is to make strength training accessible to people outside of London and around the world
HCM Magazine
Annual report
In April, Deloitte and Europe Active published the ninth edition of their yearly European Health and Fitness Market Report, as Karsten Hollasch explains
HCM Magazine
Supplier showcase
Pulse Fitness and Bolsover District Council have been collaborating for many years to deliver dedicated community activity spaces
HCM Magazine
Write to reply
Fuel the debate about issues and opportunities across the industry. We’d love to hear from you – [email protected]
HCM Magazine
Everyone's talking about
In the wake of the pandemic, is the time ripe to change the language around the role of exercise professionals, and gain greater trust from the healthcare sector?
HCM Magazine
Sponsored
Yate Leisure is one of the largest sites in Circadian Trust’s portfolio, with around 4,000 members. Ben Beasley, director of commercial development, explains why they were an early adopter of Technogym Biocircuit, and how the offer has evolved
HCM Magazine
Insight
The pandemic brought about our sector’s biggest ever collaboration on COVID safety data. Lizzie Broughton tells the story
HCM Magazine
HCM magazine
HCM People

Jon Wright

Founder and CEO, Feel Electric
We’ve set ourselves the initial goal of developing 100 Feel Electric sites, using a cluster model
HCM magazine
HCM People

Gunnar Peterson

Chief of athletics, F45
Choose consistent over perfect. That’s the long game. It’s never too late to pivot to that mindset
HCM magazine
Operators must be clear in their messaging so people find their way to a club they stick with. Try not to be all things to all people, and we can be successful at keeping them engaged
Featured supplier news
Featured supplier news: ACTIV partners with Fisikal to deliver custom branded member experience
ACTIV, a gym chain in Riyadh, Saudi Arabia, which operates separate gyms for men and women, has partnered with digital management solution expert Fisikal to create a custom branded experience for its members.
Featured supplier news
Featured supplier news: active-net 2022 tackles mental health awareness
More than 100 industry delegates met in person at the annual active-net event at Eastwood Hall in Nottingham on 23-24 March.
Featured operator news
Featured operator news: New £42m Moorways Sports Village to open on 21 May
Everyone Active will open Moorways Sports Village to the public on Saturday 21 May with a grand opening weekend – in time for the half term holidays.
Featured operator news
Featured operator news: Serco Leisure wins 10-year Mansfield contract
Following a competitive tendering process, Serco Leisure and its partner More Leisure Community Trust Limited (MLCT) have been awarded a 10-year contract by Mansfield District Council to operate three centres in the town, starting 1 May 2022.
Company profiles
Company profile: InBody UK
InBody provides products that are accurate, medically rated holding a CE mark and certified to ...
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
Lockers/interior design
Safe Space Lockers Ltd: Lockers/interior design
Skincare
Sothys: Skincare
Fitness equipment
A Panatta Sport Srl: Fitness equipment
Salt therapy products
Saltability: Salt therapy products
Flooring
Total Vibration Solutions / TVS Sports Surfaces: Flooring
On demand
Fitness On Demand: On demand
Spa software
SpaBooker: Spa software
Management software
Premier Software Solutions: Management software
trade associations
International SPA Association - iSPA: trade associations
Property & Tenders
Pendine Sands, Carmarthenshire
Carmarthenshire County Council
Property & Tenders
Runcorn
Halton Borough Council
Property & Tenders
Diary dates
15-16 Jun 2022
ExCeL London, London, United Kingdom
Diary dates
30-30 Jun 2022
The ICC, Birmingham, Birmingham , United Kingdom
Diary dates
12-13 Sep 2022
Wyndham Lake Buena Vista Disney Springs® Resort, Lake Buena Vista, United States
Diary dates
25-28 Oct 2022
Messe Stuttgart, Germany
Diary dates
25-28 Oct 2022
Ibiza, Ibiza, Spain
Diary dates
01-07 Dec 2022
tbc, Dunedin, New Zealand
Diary dates
17-18 Mar 2023
Tobacco Dock, London, United Kingdom
Diary dates

News

Myzone sets a course for unicorn status as investment from BGF values the brand at US$102m

Myzone has secured a US$17.2m worth of investment from growth capital investor BGF
The investment values the brand at US$102m
The BGF cash injection is coupled with a separate investment by tech entrepreneur, Vin Murria
Murria, a respected tech entrepreneur, will join Myzone as non-executive chair
In three to five years' time, we're looking to have achieved a US$400-500m valuation and are likely to do an IPO. Ultimately we're aiming to become one of the first unicorns in our industry
– Dave Wright, founder, Myzone
Credit: Myzone

Myzone has secured a US$17.2m worth of investment from growth capital investor BGF – a move that values the brand at US$102m. The deal is all equity-based.

The BGF cash injection is coupled with a separate £2.5m investment by Vin Murria, which will also see the renowned tech entrepreneur join Myzone as non-executive chair.

Founded in 2011 by entrepreneur Dave Wright, Myzone specialises in wearable fitness technology for the business to business activity and wellness markets and has grown to serve more than 9,000 facilities in 84 countries, reaching two million consumers.

Last year (2021), Myzone launched MZ-Switch – the world’s first interchangeable heart rate monitor, which offers users the choice of wearing the tracker on the chest, arm or wrist.

Speaking exclusively to HCM, Wright said the investment and appointment of Vin Murria as chair is a logical step in the brand's journey towards further growth – which is likely to include an IPO.

"I was really keen to bring someone in who I can learn with and learn from – and someone who can help us further professionalise our business," Wright said of Murria.

"In three to five years' time, we're looking to have achieved a US$400-500m valuation and are likely to do an IPO. Ultimately we're aiming to become one of the first unicorns in our industry [achieving a billion-dollar (US) valuation].

Wright said Myzone is opening a new office in Mexico and plans to grow through acquisition, organic growth and by entering new markets.

The plan is to continue to target the business to business sector and there are no plans to extend into consumer markets, he said.

In terms of vertical markets, Myzone is targeting its existing sectors, as well as driving into the corporate wellbeing and school and education markets and acting as a bridge between the activity and medical sectors.

Phil Whittam, Myzone MD, added: “We've been in a very fortunate position in that we've grown organically to date, without the need for external capital.

"We needed an experienced partner that could accelerate our growth plans.

“We're particularly delighted that Vin Murria has also decided to invest in the company.

"Vin is a visionary leader in the technology world and has built numerous tech businesses. In 2018, she was awarded an OBE (Officer of the Order of the British Empire) for services to the British digital economy, as well as for advancing women in the software sector.”

BGF invested more than £100m in tech businesses during 2021 and announced seven successful exits in the same period.

Myzone has secured a US$17.2m worth of investment from growth capital investor BGF – a move that values the brand at US$102m. The deal is all equity-based.
TEC,SAR,HAF,FIT,IND,PTS,SAB,CPW,CAS,PHR
2022/THUMB348994_13428_743504.jpg

News

Hyatt is piloting private gyms in five of its US hotels as part of its
A young girl has died following an incident at the David Lloyd gym at Capability
New fitness franchise, Circuit Society, has signed its first London location in Bayswater. The 3,000sq
Active Nottingham, part of Nottingham City Council, has released a children’s book called Can We
The new £42m Moorways Sports Village will open its doors to the public on Saturday
Fitness industry veteran Harm Tegelaars has returned to the fitness industry by joining the board
Innovatise UK Ltd
Innovatise UK Ltd
Global fitness technology provider Virtuagym has raised a new €3m investment from Icecat, an Amsterdam-based
Planet Fitness saw its Q1 2022 revenue increase by 66.9 per cent (to US$186.7m) on
Sport England and UK Active have signed a five-year partnership agreement which will see the
Planet Fitness is offering high-school students free access to any of its 2,200 locations in
How can organisations, including health club and leisure businesses, decarbonise, generate clean energy and harness
Being physically active can counter the damage of diabetes by enabling the activation of a
Altis, an artificial intelligence-based personal trainer solution, has secured more than US$3m worth of financing,
ukactive
ukactive
ACTIV, a gym chain in Riyadh, Saudi Arabia, which operates separate gyms for men and
Members of the United States Congress and Washington DC staff are competing against each other
1Rebel has acquired two Core Collective clubs as part of a pre-pack administration deal, along
Basic-Fit opened a record number of 72 clubs in the first quarter of 2022. Fifty-five
Deborah Szekely, philanthropist, social activist, teacher and entrepreneur, has been inducted into the Wellness Hall
Multi-brand fitness chain Urban Gym Group (UGG) has raised €16m in capital. The funds will
Those looking to have a dip in Berlin's famous heated outdoor pools this summer will
Les Mills
Les Mills
Health clubs across the UK are facing huge rises in business energy bills which are
Global design practice Perkins & Will has unveiled plans for a net-zero operational carbon community
Fitness tech firm Egym has acquired French corporate fitness and wellbeing business Gymlilb for what
Fitness On Demand
Fitness On Demand
1 - 20 of 12,206
HCM Magazine
HCM People
Our goal is to make strength training accessible to people outside of London and around the world
HCM Magazine
Annual report
In April, Deloitte and Europe Active published the ninth edition of their yearly European Health and Fitness Market Report, as Karsten Hollasch explains
HCM Magazine
Supplier showcase
Pulse Fitness and Bolsover District Council have been collaborating for many years to deliver dedicated community activity spaces
HCM Magazine
Write to reply
Fuel the debate about issues and opportunities across the industry. We’d love to hear from you – [email protected]
HCM Magazine
Everyone's talking about
In the wake of the pandemic, is the time ripe to change the language around the role of exercise professionals, and gain greater trust from the healthcare sector?
HCM Magazine
Sponsored
Yate Leisure is one of the largest sites in Circadian Trust’s portfolio, with around 4,000 members. Ben Beasley, director of commercial development, explains why they were an early adopter of Technogym Biocircuit, and how the offer has evolved
HCM Magazine
Insight
The pandemic brought about our sector’s biggest ever collaboration on COVID safety data. Lizzie Broughton tells the story
HCM Magazine
HCM magazine
HCM People

Jon Wright

Founder and CEO, Feel Electric
We’ve set ourselves the initial goal of developing 100 Feel Electric sites, using a cluster model
HCM magazine
HCM People

Gunnar Peterson

Chief of athletics, F45
Choose consistent over perfect. That’s the long game. It’s never too late to pivot to that mindset
HCM magazine
Operators must be clear in their messaging so people find their way to a club they stick with. Try not to be all things to all people, and we can be successful at keeping them engaged
HCM magazine
As HCM passed its 300th edition milestone, readers shared their thoughts and feelings on HCM’s contribution to the industry in a very special postbag
HCM magazine
Being physically active can heal damage caused by diabetes, enabling the activation of a natural system that grows new blood vessels, according to research in the US
HCM magazine
The Global Wellness Summit brought together public health and wellness experts in Boston recently. Jane Kitchen was there for HCM to see first-hand what this ‘New new era in health and wellness’ will look like for the sector
HCM magazine
What to do when your changing rooms need a refresh, but your budget is stretched? These specialists share their top tips for easy upgrades that won’t break the bank
HCM magazine
Bryce Hastings, head of research at Les Mills, explains the latest research into exercise motivation, giving tips on how to engage hard-to-reach members
HCM magazine
Social media influencers cause harm by raising unrealistic expectations of physical perfection, as Andrea Dearden explains
HCM magazine
Featured supplier news
Featured supplier news: ACTIV partners with Fisikal to deliver custom branded member experience
ACTIV, a gym chain in Riyadh, Saudi Arabia, which operates separate gyms for men and women, has partnered with digital management solution expert Fisikal to create a custom branded experience for its members.
Featured supplier news
Featured supplier news: active-net 2022 tackles mental health awareness
More than 100 industry delegates met in person at the annual active-net event at Eastwood Hall in Nottingham on 23-24 March.
Featured operator news
Featured operator news: New £42m Moorways Sports Village to open on 21 May
Everyone Active will open Moorways Sports Village to the public on Saturday 21 May with a grand opening weekend – in time for the half term holidays.
Featured operator news
Featured operator news: Serco Leisure wins 10-year Mansfield contract
Following a competitive tendering process, Serco Leisure and its partner More Leisure Community Trust Limited (MLCT) have been awarded a 10-year contract by Mansfield District Council to operate three centres in the town, starting 1 May 2022.
Company profiles
Company profile: InBody UK
InBody provides products that are accurate, medically rated holding a CE mark and certified to ...
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
Lockers/interior design
Safe Space Lockers Ltd: Lockers/interior design
Skincare
Sothys: Skincare
Fitness equipment
A Panatta Sport Srl: Fitness equipment
Salt therapy products
Saltability: Salt therapy products
Flooring
Total Vibration Solutions / TVS Sports Surfaces: Flooring
On demand
Fitness On Demand: On demand
Spa software
SpaBooker: Spa software
Management software
Premier Software Solutions: Management software
trade associations
International SPA Association - iSPA: trade associations
Property & Tenders
Pendine Sands, Carmarthenshire
Carmarthenshire County Council
Property & Tenders
Runcorn
Halton Borough Council
Property & Tenders
Diary dates
15-16 Jun 2022
ExCeL London, London, United Kingdom
Diary dates
30-30 Jun 2022
The ICC, Birmingham, Birmingham , United Kingdom
Diary dates
12-13 Sep 2022
Wyndham Lake Buena Vista Disney Springs® Resort, Lake Buena Vista, United States
Diary dates
25-28 Oct 2022
Messe Stuttgart, Germany
Diary dates
25-28 Oct 2022
Ibiza, Ibiza, Spain
Diary dates
01-07 Dec 2022
tbc, Dunedin, New Zealand
Diary dates
17-18 Mar 2023
Tobacco Dock, London, United Kingdom
Diary dates
Search news, features & products:
Find a supplier:
Precor UK
Precor UK
Partner sites