GoJoe funding news – London-based GoJoe Secures £2.4Million in Funding

Gamified virtual team-based challenges, a weighted points system for 50 distinct activities, live tracker maps, and the opportunity to train virtually with celebrities and professional athletes are just a few of the in-app features and functionalities.

It offers a genuinely global and inclusive benefit for businesses worldwide by removing barriers related to location, language, technology, and physical ability. In addition, GoJoe offers health insurance and employee assistance programmes from a single, central location.

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The funding was spearheaded by Redrice Ventures and Venrex Partners, with additional investments from Hellen's Rock Ventures and Amrock Ventures. Superbet Ventures and angel investors, such as Olympian Alistair Brownlee MBE and football player and coach Michael Carrick, also back GoJoe.

GoJoe co-founder Will Turner, said: “It’s really exciting to welcome investment from leading firms who have helped scale some remarkable businesses and build household brands. In recent years, we’ve demonstrated the huge value that a social product like ours can have on individuals and the companies they work for.Investment not only allows GoJoe to increase its resources to support its growth but also widen its reach in supporting businesses in the health and fitness challenges they face in the modern workplace.”

Alistair Russell, Venture Investor at Venrex, said: "We're thrilled to be involved with GoJoe at the intersection of the sports and consumer sectors. We're particularly excited to leverage our experience from investments in other successful consumer and sports-related startups, such as Ellipse Data and Revolut. The team embodies many of the characteristics of the most successful founders we've partnered with at Venrex."

The health benefits of it's product have been evident, particularly for those who had not been very active before. Over 61% of employees at individual enterprise clients have reported significant improvements in their physical, mental, and social health. These trends are particularly noticeable in the sedentary and lightly active cohorts, with GoJoe users who were previously sedentary sometimes increasing their activity levels by up to 80%.

In addition to connecting with HRM systems to measure the impact on fewer absences due to improved mental and physical health, GoJoe is currently collaborating with top health insurers to quantify the impact of its solution on lower incidents, claims, and premiums.

About GoJoe

GoJoe is the first social fitness app for work and play made to engage, motivate and connect employees. It is a virtual social club, exercise tracker and team challenge mash-up, designed to supercharge motivation and create the ultimate, engaging wellbeing app for the workplace.

Conceived in 2012 but founded in 2019, the app is used by brands big and small including PwC, PayPal, Experian and Amazon, and its client base is in the US, UK and Canada predominantly. GoJoe is based on four main functions: gamification and rewards, engaging social features to boost a community, inclusive team challenges, and a host of expert and celeb content.