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FIBO Exhibition
FIBO Exhibition
FIBO Exhibition
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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
The pandemic has had an "unprecedented" impact on physical activity levels in England, with 1 ...
Latest News
The first énergie Fitness club has opened in Spain as part of a push for ...
Latest News
A global innovation competition has been launched to find ways to encourage and support more ...
Latest News
Xponential Fitness has acquired Body Fit Training in a deal worth US$44m. The deal takes ...
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Exercise has been highlighted as a crucial weapon in cancer patients’ battle against the disease. ...
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The global health and fitness industry is returning to a busy programme of live trade ...
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Matrix and Intelivideo have signed a strategic partnership, which will see Intelivideo's fitness content integrated ...
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Nadine Dorries, the recently appointed secretary of state for digital, culture, media and sport at ...
HCM Magazine
Policy
The first ever partnership between NHS England and ukactive saw the sector pledging 500,000 hours of physical activity provision at no cost to the end user
HCM Magazine
Interview
Gyms have a role to play in collaborating with the social prescribing movement to improve the nation’s health, the CEO of the UK’s National Academy of Social Prescribing tells Kate Cracknell
HCM Magazine
Letters
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 last issue of HCM, we checked with big box operators in the UK to see how trading has been going since restrictions were lifted. This month we turn our attention to boutiques and urban studios to find out how they’re faring. Kath Hudson reports
HCM Magazine
Active ageing
David Minton says the healthy movement industry is ten times bigger than the health club sector, and the care industry four times bigger and ask why we’re not rushing to collaborate?
HCM Magazine
Hybrid
The Gym Group has taken its digital hybrid strategy full circle, piloting in-gym workout pods and studios with its home workout delivery partner, Fiit. HCM talks to the team driving the project
HCM Magazine
Tokyo Olympics
GLL is best known for running leisure facilities on behalf of local authorities across the UK, but a lesser-known part of its remit is its GLL Sport Foundation which supports Olympic hopefuls. Liz Terry finds out more
HCM Magazine
HCM magazine
Focusing on dieting has failed to offset the rising tide of obesity, say researchers from the Universities of Arizona and Virginia. A focus on fitness gives better health outcomes
HCM magazine
At TGOGC, we believe our own wellbeing is wrapped up in nature and the positive impact we can each have on the health of the planet
HCM magazine
Research confirms the role health clubs can play in supporting people in nurturing their mental health, as Victor Brick explains
Featured supplier news
Featured supplier news: Active IQ Skills Hub helps fitness professionals boost skills in post-Covid market
Suffice to say that the pandemic has completely changed the way fitness professionals work and the way consumers work out – and therein lies opportunity.
Featured supplier news
Featured supplier news: FitnessOnDemand launches new live-streaming feature for all fitness clubs and their members
FitnessOnDemand (FOD) [IHRSA BOOTH 1509] the leader in on-demand content from the world’s most innovative fitness brands and celebrity trainers, this month introduces a new platform evolution for all club operators and their customers.
Featured operator news
Featured operator news: Everyone Active generates £342m in social value
Award-winning leisure operator Everyone Active generated £342million in social value at its sites across the country in 2019/20.
Featured operator news
Featured operator news: Being active helps Parkwood Leisure customers save the NHS £16m
Parkwood Leisure, one of the UK’s leading public leisure facilities operators, helped prevent more than 7,000 cases of stroke, dementia, depression and type 2 diabetes in 2019, saving the NHS £16 million, a new social value report has shown.
Company profiles
Company profile: Crown Sports Lockers
Crown Sports Lockers has designed, crafted and fitted bespoke timber furniture for spas, hotels and ...
Company profiles
Company profile: Les Mills UK
For over 50 years Les Mills has been leading the way in fitness to inspire ...
Catalogue Gallery
Click on a catalogue to view it online
Directory
Management software
Premier Software Solutions: Management software
trade associations
International SPA Association - iSPA: trade associations
Lockers/interior design
Crown Sports Lockers: Lockers/interior design
Spa software
SpaBooker: Spa software
Flooring
Total Vibration Solutions / TVS Sports Surfaces: Flooring
Salt therapy products
Himalayan Source: Salt therapy products
Skincare
Comfort Zone - Davines S.p.A: Skincare
Wearable technology solutions
MyZone: Wearable technology solutions
Hydrotherapy / spa fragrances
Kemitron GmbH: Hydrotherapy / spa fragrances
Exercise equipment
Power Plate: Exercise equipment
Property & Tenders
Welwyn Garden City
Welwyn Hatfield Borough Council
Property & Tenders
Newport, Shropshire
Lilleshall Sports Academy
Property & Tenders
Diary dates
01-03 Feb 2022
Coventry Building Society Arena, Coventry, United Kingdom
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

The pandemic has had an "unprecedented" impact on physical activity levels in England, with 1
The first énergie Fitness club has opened in Spain as part of a push for
A global innovation competition has been launched to find ways to encourage and support more
Xponential Fitness has acquired Body Fit Training in a deal worth US$44m. The deal takes
Exercise has been highlighted as a crucial weapon in cancer patients’ battle against the disease.
The global health and fitness industry is returning to a busy programme of live trade
Miha Bodytec GmbH
Miha Bodytec GmbH
FitnessOnDemand (FOD) [IHRSA BOOTH 1509] the leader in on-demand content from the world’s most innovative
Matrix and Intelivideo have signed a strategic partnership, which will see Intelivideo's fitness content integrated
Nadine Dorries, the recently appointed secretary of state for digital, culture, media and sport at
Mindbody has announced it's buying ClassPass, the consumer wellness subscription service that enables people to
Tanni Grey-Thompson has outlined her vision on how the physical activity sector can play "the
The Global Health & Fitness Alliance (GHFA) has revealed the makeup of its inaugural nine-member
The 40th Annual IHRSA International Convention & Trade Show (IHRSA 2021) begins today in Dallas,
FreeMotion Fitness
FreeMotion Fitness
Despite the Prime Minister’s claims that trade with the EU would be tariff-free post-Brexit, the
A new study has suggested that strength training can result in people losing around a
Basic-Fit has officially opened its 1,000th club, with the launch of a new site in
Health club operator Life Time Group has become a publicly traded company again, after it
Creating workout experiences will be the main theme of this year's Retention Convention, which will
Marg Mayne will stand down as CEO of Mytime Active next year, after more than
French car manufacturer Citroën and hotel brand Pullman Hotels & Resorts have partnered to create
Les Mills
Les Mills
As Surge expands its offer with the launch of a third dedicated Electronic Muscle Stimulation
Les Mills is expanding its digital operations by replacing its existing on-demand services with the
Sport England has spent £1.5m launching its own on-demand fitness platform, with the hope of
Innovatise UK Ltd
Innovatise UK Ltd
1 - 20 of 12,051
HCM Magazine
Policy
The first ever partnership between NHS England and ukactive saw the sector pledging 500,000 hours of physical activity provision at no cost to the end user
HCM Magazine
Interview
Gyms have a role to play in collaborating with the social prescribing movement to improve the nation’s health, the CEO of the UK’s National Academy of Social Prescribing tells Kate Cracknell
HCM Magazine
Letters
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 last issue of HCM, we checked with big box operators in the UK to see how trading has been going since restrictions were lifted. This month we turn our attention to boutiques and urban studios to find out how they’re faring. Kath Hudson reports
HCM Magazine
Active ageing
David Minton says the healthy movement industry is ten times bigger than the health club sector, and the care industry four times bigger and ask why we’re not rushing to collaborate?
HCM Magazine
Hybrid
The Gym Group has taken its digital hybrid strategy full circle, piloting in-gym workout pods and studios with its home workout delivery partner, Fiit. HCM talks to the team driving the project
HCM Magazine
Tokyo Olympics
GLL is best known for running leisure facilities on behalf of local authorities across the UK, but a lesser-known part of its remit is its GLL Sport Foundation which supports Olympic hopefuls. Liz Terry finds out more
HCM Magazine
HCM magazine
Focusing on dieting has failed to offset the rising tide of obesity, say researchers from the Universities of Arizona and Virginia. A focus on fitness gives better health outcomes
HCM magazine
At TGOGC, we believe our own wellbeing is wrapped up in nature and the positive impact we can each have on the health of the planet
HCM magazine
Research confirms the role health clubs can play in supporting people in nurturing their mental health, as Victor Brick explains
HCM magazine
In this issue, we’re focusing on sharing insights and thought leadership to highlight opportunities for the development of the sector in terms of both markets and offerings, says Liz Terry, HCM editor
HCM magazine
Screens display power generated from each piece of equipment, allowing people to compete against each other for kilowatt hours produced
HCM magazine
Our competition need to fasten their seatbelts
HCM magazine
HCM People

Danielle Obe

Chair, The Black Swimming Association
Our vision is a future with ethnic diversity in aquatics
HCM magazine
This year’s edition of the IHRSA Global Report which addresses performance from 2020, is a valuable record of the tremendous impact of the COVID-19 pandemic on the sector, creating a benchmark from which to understand the recovery. Kristen Walsh reports for HCM
HCM magazine
Research firm Qualtrics surveyed 12,157 consumers across 15 countries in seven languages to create the Les Mills 2021 Global Fitness Report, highlighting the ways consumers are choosing to work out as we emerge from the pandemic. Jak Phillips reports
HCM magazine
Featured supplier news
Featured supplier news: Active IQ Skills Hub helps fitness professionals boost skills in post-Covid market
Suffice to say that the pandemic has completely changed the way fitness professionals work and the way consumers work out – and therein lies opportunity.
Featured supplier news
Featured supplier news: FitnessOnDemand launches new live-streaming feature for all fitness clubs and their members
FitnessOnDemand (FOD) [IHRSA BOOTH 1509] the leader in on-demand content from the world’s most innovative fitness brands and celebrity trainers, this month introduces a new platform evolution for all club operators and their customers.
Featured operator news
Featured operator news: Everyone Active generates £342m in social value
Award-winning leisure operator Everyone Active generated £342million in social value at its sites across the country in 2019/20.
Featured operator news
Featured operator news: Being active helps Parkwood Leisure customers save the NHS £16m
Parkwood Leisure, one of the UK’s leading public leisure facilities operators, helped prevent more than 7,000 cases of stroke, dementia, depression and type 2 diabetes in 2019, saving the NHS £16 million, a new social value report has shown.
Company profiles
Company profile: Crown Sports Lockers
Crown Sports Lockers has designed, crafted and fitted bespoke timber furniture for spas, hotels and ...
Company profiles
Company profile: Les Mills UK
For over 50 years Les Mills has been leading the way in fitness to inspire ...
Catalogue Gallery
Click on a catalogue to view it online
Directory
Management software
Premier Software Solutions: Management software
trade associations
International SPA Association - iSPA: trade associations
Lockers/interior design
Crown Sports Lockers: Lockers/interior design
Spa software
SpaBooker: Spa software
Flooring
Total Vibration Solutions / TVS Sports Surfaces: Flooring
Salt therapy products
Himalayan Source: Salt therapy products
Skincare
Comfort Zone - Davines S.p.A: Skincare
Wearable technology solutions
MyZone: Wearable technology solutions
Hydrotherapy / spa fragrances
Kemitron GmbH: Hydrotherapy / spa fragrances
Exercise equipment
Power Plate: Exercise equipment
Property & Tenders
Welwyn Garden City
Welwyn Hatfield Borough Council
Property & Tenders
Newport, Shropshire
Lilleshall Sports Academy
Property & Tenders
Diary dates
01-03 Feb 2022
Coventry Building Society Arena, Coventry, United Kingdom
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
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FIBO Exhibition
FIBO Exhibition