Thursday, July 5, 2012

MapMyFITNESS Gets $3M In Financing

Austin-based MapMyFITNESS, the developer of mobile fitness apps and website services, reported this morning that it has gained $3M in a financing from Square 1 Bank. The debt funding comes on top of a recent, $9M Series B equity financing from Austin Ventures, Milestone Ventures, Competitor Group, Inc. and The Running Specialty Group. MapMyFITNESS did not disclose any of the terms of the debt funding from Square 1. The firm, which is headed by Richard Jalichandra, said the funding will help it further develop its offerings. The firm reported that it now has more than 10 million members using its various fitness tracking apps and services.