The SoftBank Vision Fund has led a $360 million round of funding for Keep, a popular workout and fitness app in China. SoftBank led the round and was joined by participants including Coatue Management, GGV Capital, Jeneration Capital, 5Y Capital, and the Chinese tech giant Tencent.

The $360 million investment valued Keep at $2 billion, according to local reports. 

Keep is a popular workout and fitness app that serves the Chinese market, having 300 million registered users. The company has even ventured into making its own fitness equipment with a home exercise bike that it released in 2019. Also, Keep sells its brand of weight-conscious snacks.

With a stated average of 38 million monthly active users, Keep is one of the most popular fitness apps globally and is a frontrunner in the Chinese fitness market, a market that’s estimated (by Statista) to have topped $11.4 billion in 2020.

With its just-announced $360 million Series F round, Keep has now raised a total of over $600 million in venture funding since it was founded in 2004.

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