The funding round, which closed on 27th October, 2023, was led by Angel Loop, Australia’s largest Angel Investor syndicate known for backing innovative and promising early-stage start-ups. Additional investors included Brisbane Angels and a group of strategic investors in Australia, Singapore and the USA who share Coach Welly's vision for helping millions of people to measurably improve their health and wellness.
This capital injection will be instrumental in supporting the company’s go-to-market plan, including the completion of the platform development in preparation for a Q1, 2024 launch. The company has a rapidly growing list of contracted customers, including an undisclosed global gym brand that has partnered with Coach Welly to provide personalised engagement, support, and rewards to their members in Australia.
"Despite the challenges in the current capital environment, Coach Welly's pre-revenue traction and deep domain expertise stood out to us," said Simon Horne, CEO at Angel Loop. "Their ability to attract some big-name initial customers both domestically and internationally at this stage in their journey is a strong signal of the founders’ tenacity and credibility and we are excited to be part of the future growth of Coach Welly.
”Coach Welly’s founders Owen Bowling and Graham Jensen, expressed gratitude and excitement about the successful funding round, stating, “this is a huge milestone for Coach Welly, and we are thrilled to have the support and confidence of our investors as we bring the evolution of health engagement technology to market. This funding will enable us to launch the Coach Welly platform in Q1 of 2024 with a growing list of innovative customers that have partnered with us to measurably improve their member’s health and wellness.
”Founded in 2019 in Brisbane, Coach Welly was recently named as one of the top 20 Australian AI start-ups to watch, and is poised to rapidly grow into a technology leader to disrupt the global health and fitness market. Coach Welly uses a combination of AI, fitness content, biometrics, and gamification with cloud-based software to provide a personalised user experience at scale.
Coach Welly products include a next-generation consumer-facing app that integrates with wearables, equipment, virtual content, and member management software to enable gyms to provide members with a complete solution that unifies their entire wellness experience and rewards them for all their health and wellness activities.