- General
- July 10, 2018
- 3 minutes read
Fitness startup Keep gets $127 million Series D round from Goldman Sachs, Tencent and Others
China based fitness startup Keep notable for its online mobile fitness community which provides training programs for a wide range…
China based fitness startup Keep notable for its online mobile fitness community which provides training programs for a wide range of people has now raised a Series D investment round totaling $127 million in the round which was led by major investor Goldman Sachs and saw participation from other notable investors consisting of Tencent, GGV Capital, German mass media giant Bertelsmann and Chinese major investor Morningside.
This new round brings the total raised by the Beijing based sports technology company to a total of $174 million across 4 investment rounds with this current round representing its biggest so far since its start 4 years ago.
Chinese internet company Tencent, GGV Capital and Morningside are notably returning investors in this round as the companies have co-led Keep’s previous investment rounds across its Series B and C fund raising.
Keep will make use of this investment to expand its services amidst more investment into its AI product arm which launched last year along with its sports brand Keepland, Intelligent hardware arm KeepKit and fashion brand KeepUp which the company launched March this year in a bid to expand its fitness and sports services to much more consumers.
This round being led by Goldman Sachs’ investment partner Kaixun Zhang represents a very good interest in the huge sport consumer base which counts a very vast and still rapidly growing market worldwide.
Keep currently counts over 100 million users which indicates a huge user base which can be integrated in-depthly with the fitness startup’s various services and provide various fitness, training and wellness products to its users whilst scaling its operations and making huge revenues.
Keep was founded by serial entreprenuer Scott Kurnit who is also notable for his founding of About.com which grew to a public market value of $1.5 Billion before a later sale to Primedia in a deal worth a reported $700 million along with him being former President of major satellite television network Showtime along with other stints at notable New York technology companies.
