The fitness equipment industry in the US is blossoming with growth, driven by rising health consciousness and technological advancements. It encompasses various companies producing gym equipment, wearable technology, and fitness apps that cater to a broad audience—from individuals to large gyms. Participants include established brands and nimble startups, delivering innovative products focused on connectivity and personalized fitness experiences. As online sales surge and home workouts gain popularity, this sector is shifting toward smart equipment and virtual training solutions. Interestingly, the industry's market size has surged, with projections indicating continued expansion as lifestyles change and emphasis on health takes precedence.


This list highlights notable investors in the fitness equipment sector, showcasing both venture capital and private equity firms. Concentrated mainly in urban hubs like New York and San Francisco, these investors vary in size from small teams to well-established large firms, reflecting a wide span from 11 to over 10,000 employees. Founded over the past several decades, their engagement in 2024 saw a range of deals—some with hundreds of transactions—highlighting their commitment to health and wellness innovations. Each investor brings a unique perspective to the market, which continually shapes the fitness landscape.


Top 13 Fitness Equipment Investors in the US


1. Y Combinator

  • Website: ycombinator.com
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2005
  • Headcount: 51-200
  • Number of deals in 2024: 802
  • LinkedIn: y-combinator

Y Combinator is a prominent startup accelerator and venture capital firm based in San Francisco, California, founded in 2005. It provides funding and mentorship to early-stage technology companies through a structured program that includes resources like the Startup School and co-founder matching services. Y Combinator has successfully launched over 4,000 startups, establishing itself as a key player in the technology startup ecosystem. Notably, Y Combinator has invested in fitness-related companies such as Aviron Interactive, which focuses on connected fitness solutions, and FightCamp, a manufacturer of at-home boxing gyms. These investments highlight Y Combinator's engagement in the fitness equipment sector, showcasing their interest in innovative fitness solutions that leverage technology.


2. 500 Global

  • Website: 500.co
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2010
  • Headcount: 201-500
  • Number of deals in 2024: 98
  • LinkedIn: 500-startups

500 Global is a venture capital firm and startup accelerator based in San Francisco, California, founded in 2010. The firm specializes in investing in early-stage technology companies, providing funding, mentorship, and resources to help founders scale their businesses. In the fitness equipment context, 500 Global has made significant investments in companies such as FightCamp, which raised $8 million in Series A funding in July 2020 and previously secured seed funding in May 2017. They also invested in Hykso, a company focused on wearable technology for athletes, which raised funds in April 2021. Other relevant investments include SidelineSwap and FORTË, both of which are involved in the sports and fitness sectors. These transactions highlight 500 Global's commitment to supporting innovative startups in the fitness equipment industry.


3. Sosv

  • Website: sosv.com
  • Type: Venture Capital
  • Headquarters: United States (USA)
  • Founded year: 1995
  • Headcount: 51-200
  • Number of deals in 2024: 170
  • LinkedIn: sosv

SOSV is a venture capital firm founded in 1995, specializing in funding and supporting deep tech startups through its development programs. With a global reach, SOSV connects innovative companies with investors, providing not only capital but also resources to help startups grow and succeed. Among their notable transactions, they have invested in Overhand Fitness, which focuses on fitness solutions, and Motiv, a company that has raised significant funding for its fitness-related technology. Motiv alone has received multiple rounds of funding from SOSV, including a Series A round of $8.66 million, highlighting the firm's active role in the fitness equipment sector.


4. Deep Tech Fund (an Alumni Ventures Fund)

  • Website: av.vc
  • Type: Venture Capital
  • Headquarters: Manchester, New Hampshire, United States (USA)
  • Founded year: 2023
  • Headcount: 51-200
  • Number of deals in 2024: 258
  • LinkedIn: deep-tech-fund-av-focused-fund

Deep Tech Fund (an Alumni Ventures Fund) is a venture capital firm based in Manchester, New Hampshire, founded in 2023. It provides accredited investors and institutions with access to professionally-managed, diversified venture portfolios. With a network of over 10,000 investors, the firm focuses on connecting them with high-quality investment opportunities in the startup ecosystem. Notably, the fund has invested in Hydrow, which raised funds in both Series A and Series C rounds, focusing on innovative fitness equipment. Additionally, they have invested in Oura, which raised significant amounts in Series B rounds, emphasizing health and wellness, which is closely related to fitness. These transactions highlight the fund's engagement in the fitness equipment sector.


5. L Catterton

  • Website: lcatterton.com
  • Type: Private Equity
  • Headquarters: United States (USA)
  • Founded year: 1989
  • Headcount: 201-500
  • Number of deals in 2024: 23
  • LinkedIn: l-catterton

L Catterton is a private equity firm founded in 1989, specializing in investment management with a focus on consumer brands across various sectors. The firm partners with middle market companies and high-growth enterprises, providing capital and strategic guidance to enhance brand equity and market presence. Notably, L Catterton has made significant investments in the fitness equipment industry, including a $75 million growth capital investment in Peloton, a leader in indoor cycling, and multiple funding rounds for Tonal, an AI-driven home gym startup, totaling over $450 million. These transactions highlight L Catterton's commitment to driving growth and innovation within the fitness sector, leveraging consumer insights to enhance its portfolio companies' market presence.


6. StartUp Health

  • Website: startuphealth.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 2011
  • Headcount: 11-50
  • LinkedIn: startuphealth

StartUp Health is a not-for-profit organization based in New York, founded in 2011, that focuses on health innovation. They support health entrepreneurs and startups through their Health Moonshot Communities, providing resources, networking, and media content aimed at addressing significant health challenges. Their offerings include newsletters, podcasts, and a journal that highlight progress in health technology and innovation. Notably, StartUp Health has been involved in several transactions relevant to the fitness context, such as JETSWEAT, which raised funds in a Pre-Seed round in June 2023, indicating a focus on fitness technology. Other investments include Fittle, hav., and GoodLife Technology, which may also relate to health and fitness solutions, showcasing their commitment to supporting innovations that can enhance health and wellness.


7. Government of Canada

  • Website: canada.ca
  • Type: Corporate
  • Headquarters: Canada, Kentucky, United States (USA)
  • Founded year: 1999
  • Headcount: 10001+
  • Number of deals in 2024: 137
  • LinkedIn: government-of-canada

The Government of Canada is a public entity that provides a wide range of services and information to Canadian citizens and residents, addressing various needs including employment, immigration, health care, and taxation. Founded in 1999, it operates through multiple departments and agencies to ensure access to essential services and support for individuals and businesses across the country. In recent years, the Government of Canada has engaged in several transactions relevant to the fitness equipment context, such as providing debt financing to Kinesiq inc, which focuses on health-related technology, and significant funding to Équipements récréatifs Jambette inc, a company involved in recreational equipment. Additionally, the government has issued grants to organizations like the YMCA of Medicine Hat and Vivo for Healthier Generations, which promote health and wellness initiatives, further demonstrating its involvement in the fitness sector.


8. FJ Labs

  • Website: fjlabs.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 2015
  • Headcount: 11-50
  • Number of deals in 2024: 169
  • LinkedIn: fj-labs

FJ Labs is a venture capital firm based in New York, founded in 2015, that specializes in investing in marketplace and network effect businesses. They provide capital and strategic guidance to entrepreneurs across various industries, including e-commerce and logistics. With over 1,000 companies in their portfolio, many of which have achieved unicorn status, FJ Labs has demonstrated a strong track record in supporting innovative startups. Notably, they have invested in Playbook, a fitness-related platform that raised significant funding in both 2020 and 2023, indicating their engagement in the fitness equipment and wellness space. Additionally, their investment in Studio, a startup that may also relate to fitness, further highlights their interest in this sector.


9. Plug and Play Tech Center


Plug and Play Tech Center is an innovation hub and venture capital firm based in Sunnyvale, California, founded in 2006. They connect startups with corporations to foster growth and innovation, offering various programs including accelerator initiatives and investment opportunities. In 2024 alone, they have made 253 investments, showcasing their active role in the venture capital landscape. Among their notable transactions, they have invested in Fit Pay, a startup that enables wearable devices to facilitate contactless payments, and Wellx, which focuses on health and wellness through an InsurTech platform. These investments highlight their engagement in the fitness and health technology sectors, alongside their broader focus on technology startups.


10. Goodwater Capital

  • Website: goodwatercap.com
  • Type: Venture Capital
  • Headquarters: Burlingame, California, United States (USA)
  • Founded year: 2014
  • Headcount: 51-200
  • Number of deals in 2024: 41
  • LinkedIn: goodwater-capital

Goodwater Capital is a venture capital firm based in Burlingame, California, founded in 2014. The firm specializes in consumer technology and supports seed-stage entrepreneurs by providing investment, resources, and a community to help them grow. Goodwater Capital has a diverse investment portfolio that spans various sectors, including healthcare and financial services, with a particular emphasis on improving access to technology solutions for underserved communities. In the fitness equipment context, Goodwater Capital has made notable investments such as Fit!, which raised $120,000 in a Pre-Seed Round, and Fit Hub Indonesia, which secured $3 million in a Seed Round. They also invested in Mighty Health, a company focused on health and fitness, and participated in the funding of Sweat Economy, a crypto app that rewards users for physical activity, showcasing their commitment to the fitness industry.


11. North Castle Partners


North Castle Partners is a private equity firm based in New York, founded in 1997, specializing in investment management and consulting services for consumer brands in the Healthy, Active, and Sustainable Living sectors. They partner with entrepreneurs to scale their businesses through strategic guidance and operational support. Notably, North Castle Partners has made several key investments in the fitness industry, including: 1) Octane Fitness, which raised funds in 2005; 2) Therabody, which secured $165 million in funding in 2022; 3) Barry's Bootcamp, which received a strategic investment for growth and expansion in 2015; 4) Equinox Fitness, which was acquired to support its national expansion plans in 2000; and 5) HydroMassage, which was backed as part of their sixth fund. These transactions highlight their active role in the fitness equipment and wellness space, reinforcing their relevance as an investor in this sector.


12. Amazon

  • Website: amazon.com
  • Type: Corporate
  • Headquarters: Seattle, Washington, United States (USA)
  • Headcount: 10001+
  • Number of deals in 2024: 37
  • LinkedIn: amazon

Amazon.com, Inc. is a multinational technology company based in Seattle, Washington, primarily known for its e-commerce platform that offers a vast array of products and services. Founded in 1994, Amazon has expanded its operations to include cloud computing, online advertising, digital streaming, and artificial intelligence. In the fitness equipment sector, Amazon has made significant investments through its Alexa Fund, participating in funding rounds for companies like Tonal, which raised $110 million in a Series D round to develop smart fitness equipment. Additionally, Amazon was involved in the Series C funding for Zwift, a platform that combines fitness and gaming, which raised $450 million and is venturing into hardware. Another notable investment was in Aaptiv, a fitness app that raised $22 million in a Series C round, showcasing Amazon's commitment to supporting innovative fitness solutions. These transactions highlight Amazon's strategic interest in the fitness equipment industry, aligning with its broader goal of enhancing consumer experiences through technology.


13. Gaingels

  • Website: gaingels.com
  • Type: Venture Capital
  • Headquarters: Burlington, Vermont, United States (USA)
  • Founded year: 2015
  • Headcount: 11-50
  • Number of deals in 2024: 60
  • LinkedIn: gaingels

Gaingels is a venture capital firm founded in 2015, based in Burlington, Vermont, dedicated to investing in companies with diverse leadership. The firm focuses on fostering diversity and inclusion in the innovation economy by providing capital and support to startups led by underrepresented groups. Gaingels has been involved in several notable transactions in the fitness equipment sector, including investments in Ergatta, which raised a total of $35 million to develop its connected rowing machine, and 305 Fitness, which raised funds to expand its fitness offerings. Additionally, they participated in the funding of Strive, a sports tech company, further showcasing their commitment to the fitness and wellness industry. Gaingels also offers scholarship programs and advisory services to enhance board diversity, reinforcing their mission to support diverse leadership in all sectors, including fitness.



Fitness Equipment Insights: Key Investors in the US


InvestorHeadquarterSizeFoundedDeals 2024
Y CombinatorSan Francisco, California, United States (USA)51-2002005802
500 GlobalSan Francisco, California, United States (USA)201-500201098
SosvUnited States (USA)51-2001995170
Deep Tech Fund (an Alumni Ventures Fund)Manchester, New Hampshire, United States (USA)51-2002023258
L CattertonUnited States (USA)201-500198923
StartUp HealthNew York, New York, United States (USA)11-5020110
Government of CanadaCanada, Kentucky, United States (USA)10001+1999137
FJ LabsNew York, New York, United States (USA)11-502015169
Plug and Play Tech CenterSunnyvale, California, United States (USA)501-10002006253
Goodwater CapitalBurlingame, California, United States (USA)51-200201441
North Castle PartnersNew York, New York, United States (USA)11-5019970
AmazonSeattle, Washington, United States (USA)10001+37
GaingelsBurlington, Vermont, United States (USA)11-50201560


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