Liteboxer, the Peloton of boxing, raises $20 million Series A

lightboxerPeloton for Boxing, has announced the closure of a $20 million Series A funding round led by Nimble Ventures. B Riley Venture Capital participated with existing investors Raptor Group and Will Ventures.

Lightboxer announced an in-home device that launched publicly to the world in July of 2020, bringing gamification, hit music, and a touch of entertainment to boxing workouts. The patented hardware includes a system of lights that smartly pair with music to give the user an intense workout that feels like a game. Hit where the light turns off, in sync with the music, until your ass is kicked enough.

Content is a big part of the puzzle with Lightboxer. For $29/month, users get unlimited training sessions and workouts led by Lightboxer trainers. Lightboxer also has a quick play option, which skips over instructor content and lets users perform workouts based on the song they choose.

This comes through an exclusive partnership with Universal Music. Lightboxer always has a rotation of 100 universal music songs available to users, and the system is able to automatically pair the lighting with the beat of the music for a light-weight workout.

Users are not only competing with themselves, but they can also join other friends to compete against each other.

According to cofounders Jeff Morin (CEO) and Todd DaGres (President), engagement is the name of the game for Lightboxers. They say that since shipping the equipment in October, they’re seeing users doing the Lightboxer workout an average of four to five times a week.

Since the launch, the company has made some changes. For one, the original focus on the trainer side was on the technique of boxing. But given. The importance of music to workouts, Lightboxers have realized the impact that a recreational trainer can have.

“The cadence has been very important,” Morin said. “We’ve learned that you can’t train the rhythm if one doesn’t have it. We’ve seen that instructors with more spin class experience are able to feel the rhythm of the music, and know when the beat drops. Coming up, and create these programs that are basically an art piece or a performance.”

The company is also looking at its employment of these trainers, moving from 1099 to part-time employment and is also seriously considering full-time W2 employment for them.

This latest round of funding is meant to fuel development and power initiatives, which aim to get the device out into the wild so more people can see and experience it. The co-founders pointed out that this was one of the big challenges to launch with such a product during the pandemic.
This brings the company’s total funding to $28.5 million.

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