Fitness tech company Hapana raises $17 million to fuel innovation and drive global expansion

The software behind some of the world’s largest fitness brands, including BFT and KX Pilates, raises fresh capital and outlines its next stage of growth. 

Hapana, a global software-as-a-service platform for gyms, group fitness studios and franchises, has raised $17 million in a funding round led by Australian venture capital funds OIF Ventures and Bailador.

The funds will be used to expand the company’s global footprint, further cementing its leadership position in APAC and growing its reach in the US. They will also fuel the launch of its second generation platform.

Hapana’s technology manages memberships, payments, retention and loyalty for these businesses, providing them with the rich data features they need to facilitate expansion. The product operates as a white label solution, allowing its customers to keep their fitness brand front and centre when engaging with their members.

The company’s technology is used in 17 countries and leveraged by many prominent global fitness brands including: BFT (Body Fit Training), KX Pilates, Gold's Gym, STRONG Pilates, UFC Gym, Club Pilates, F45, FS8, Vaura and Air Locker Training. Over a million fitness club members engage with the Hapana platform as part of their studio membership.

Over half a billion dollars in payments were processed annually through the Hapana platform last financial year, helping the business achieve exceptional year on year growth in its revenue.

Hapana CEO Jarron Aizen said: “These funds will enable us to expand our go-to-market plans in the US and across the APAC region, facilitating the signing of more franchises and independent gyms. By providing these businesses with a holistic technology solution, we allow them to focus on what they do best, helping their clients achieve their fitness goals. 

“Our second-generation platform is designed to build on the strengths of our current technology stack. We’re modernising and streamlining the user experience and importantly, we are adding functionality for large franchise fitness brands. This will provide them with greater visibility and control over their network.

“By expanding our platform to include new payment channels, we are helping these brands enter new markets and scale their locally developed fitness concepts on a global level. This initiative aligns with our primary goal for Hapana: to serve as a launchpad for global fitness brands. 

Kevin Wilson, Partner at OIF Ventures said: "We have been closely following Hapana's journey and are deeply impressed with their execution and commitment to becoming the leading fitness management software for premium health and wellness clubs worldwide.

During our diligence process, we spoke with numerous Hapana customers and consistently heard about the positive impact of their innovative solutions. With this capital raise, we are confident that Hapana's robust product roadmap will further enhance their offerings and accelerate their growth. We are thrilled to support Jarron and his exceptional team as they embark on the next phase of their journey."

Paul Wilson, Bailador Co-Founder and Managing Partner, said: “Hapana has established a great reputation in the large and growing fitness industry. Bailador is backing Jarron and the strong Hapana team to continue executing on their growth in Australia and internationally.”

About Hapana

Founded in 2014, Hapana is the leading fitness software designed to  unlock growth and efficiency for gyms, fitness studios and franchises. Initially launched in Australia, the company has grown to employ over 80 staff members globally and has expanded across the APAC region and into the US.

Using automated lead nurturing, a captivating member experience, multi-layered reporting, and advanced day-to-day operational controls, Hapana’s software solution is designed to drive growth, enhance operational efficiency, and boost revenue for fitness companies.

About OIF Ventures

OIF Ventures is a leading Australian venture capital firm that champions exceptional founders, driven by purpose, who add material value to their customers, markets, and communities. OIF Ventures invests in early and growth-stage companies with innovative, high-growth and disruptive technologies with demonstrated market demand. 

Founded in 2016 by a team of founders, entrepreneurs, and business-builders, OIF Ventures has raised four funds to date, managing over $400 million and closing its $140 million Fund III in 2022 and $80 million Opportunity Fund in 2023. OIF Ventures is exclusively backed by founders, business-builders, ASX executives, HNW and family offices. While focused on backing Australian founders, OIF Ventures seeks to partner with ambitious founders who have the opportunity to expand into global markets, in particular the US, where they can support this expansion through an extensive network of potential customers and investors. 

The OIF Ventures team have backed some of Australia’s leading emerging technology companies including Atomi, Go1, Instaclustr, Advanced Navigation, Kasada, Visory, Enboarder and others. 

About Bailador

Bailador Technology Investments is a growth capital fund focused on the information technology sector. Bailador typically invests $5-20 million in private technology companies at the expansion stage. Areas of focus within the technology sector include: Software as a Service, online marketplaces, health-tech, travel-tech, language translation and data analytics.

Bailador invests in companies with established revenues and a proven business model, backing companies with highly motivated leadership and best-in-class technology or business systems. Bailador is distinctive in its level of involvement in assisting portfolio investments, taking board positions in most cases.

The fund is listed on the ASX [BTI:ASX] allowing investors access to a portfolio of information technology companies with global addressable markets.