An appropriately named marketplace for endurance events (e.g. running, triathlon, cycling, etc.). Let’s do it (YC alumnus) came up a couple of years ago listing all kinds of endurance exercises around the world and attraction the backing of stars like Usain Bolt and Serena Williams, along with more conventional VCs like EQT.
Founded by Alex Rose and Sam Brown, endurance runners and cyclists themselves, the startup has now raised a $60 million Series B round led by Craft Ventures and Headline. The round also included existing investors EQT, NFX and Y Combinator, as well as newcomer Morpheus Ventures. Celebrity patrons include Serena Williams, Usain Bolt and British gold medal runner Paula Radcliffe. The angels include Gmail founder Paul Buheit as well as Ian Hogarth, founder of Songkick.
Sam Brown, co-founder and CEO of Let’s Do This, said in a statement:
The global market for sports endurance is valued at $18 billion and as in-person competition is finally possible again after a long hiatus, we know it’s only going to grow… Surprisingly, sports are just the beginning for Let’s Do This too. . With funding and support from our investors, we plan to expand into other verticals in the live events and experiences space.
Let’s Do This lists flagship events such as Bay to Breakers, Long Beach Classic Half & 5K and Bay Bridge Half Marathon, but it’s clear that investors were attracted by the prospect of expanding into other verticals.
Part of the appeal to users, the company says, is that its algorithm uses data points from fitness tracking, race history and social connections to personalize its race recommendations. It’s easy to see how this can be expanded to “you liked this gig, so how about that”.
It’s also a market entry that has realized that setting goals – for a race, for example – helps someone stay in shape. Studies show that people are 12.5 times more likely to develop a fitness habit 12 months after signing up for a race than after hitting the gym.
Christian Leibold, partner at Headline, said:
There is a certain camaraderie in group endurance events, but most organizers are stuck with low-tech platforms that offer a mediocre user experience. With Let’s Do This, Alex and Sam have revolutionized how we bring our offline experiences online.
Founded in 2016, Let’s Do This claims to now have over 5 million users worldwide. Now he plans to expand in the US with his new office in Colorado, as well as the growth of his UK team, as well as additional social functions.
Credit: techcrunch.com /