Less than one week into its Wefunder SAFE Future Equity crowdfunding campaign, Wefunder vet MySwimPro has freestyled past $250K from 70+ investors toward its $1,000,000 maximum target. In 2017 MySwimPro raised $280,629 from 164+ investors. This new round of funding will enable MySwimPro to invest in growing the business by further developing its products, team and customer acquisition strategy.
To recap, MySwimPro launched its subscription business in Q2 of 2016, and finished the year with 377 paying subscribers. In 2017 the company reportedly grew by over 277% to over 1,400 paying subscribers and finished 2018 with more than 5,600 subscribers, representing a paying subscriber 290%+ increase. Currently averaging an 11% monthly growth rate since inception, MySwimPro hopes to continue on that trend in 2019 and in the future.
“For the next 12-18 months, our goal is to continue growing our subscriber base. If we can maintain an 8-10% monthly subscriber growth rate, we’ll have over 15k subscribers by the end of 2019. We’d like to also increase our monthly active user count from 50k to 100k. To do this, we’ll be investing in adding more partnerships, improving the app experience, and spending more money on paid acquisition channels. We’ll also look to grow internationally through language translation and localizing our app listing in the App Store,” commented the swim tech startup on its campaign. “Beyond the flagship MySwimPro mobile app, we’ll be launching another native iOS application for triathlon. This triathlon training app will offer a similar value proposition as MySwimPro but specifically for triathlon. We’ve identified that there is a large need for personalized triathlon coaching that is compatible with a mobile and wearable device and we’ll be focused on addressing those challenges with this new app.”
Co-founded by CEO Fares Ksebati, CTO Adam Oxner and Android Lead Michael Allon, the app currently pairs with the Apple Watch, Fitbit, Garmin and wear OS by Google smartwatches. Reportedly people in over 150 different countries improve their performance and health through MSP, which focuses on creating a personalized coaching experience for swimmers and triathletes:
“Most of the fitness applications on the market are for weight loss or activity tracking. Companies like Fitbit or Garmin create hardware products that track activity, and we create software that works with these different wearable devices to help coach swimmers through structured workouts,” according to the campaign. “We focus on delivering an incredible experience for our community members before, during, and after their swim workout.”
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