Octiv, a South Africa-based gym management software, announced that it secured eight figures in a Series A funding round.
The round was led by Knife Capital and included an angel investment from an executive at BVNK, which will supercharge Octiv’s global expansion goals.
This investment will allow Octiv to fast-track its global expansion drive, add innovative product enhancements, and scale customer service levels to keep up with aggressive growth. It will also allow the company to upscale its product team for more innovation while building out the sales function to onboard more gyms.
“A primary vision of Octiv is handing brick-and-mortar gyms and fitness studios a digital arm to run a seamless and more profitable business. We offer their members the ultimate personalized fitness experience,” Mark Fawzy, CEO & founder of Octiv, said.
Company: Octiv Fitness Limited
Raised: Undisclosed
Round: Series A
Funding Month: September 2022
Lead Investors: Knife Capital
Additional Investors: an executive at BVNK
Company Website: https://octivfitness.com/
Software Category: Gym Management Software
About the Company: Founded in 2014, Octiv is an all-in-one cloud-based gym management platform that includes everything a gym or fitness studio requires to manage its day-to-day business operations. Their technology improves the human connection and community experience while also boosting their clients' business growth potential and brand identity. Octiv software allows for member management and billing, payment gateway integrations, scheduling, various programs, lead management, task management, payroll, reporting, and website integrations, among other things. Octiv successfully crossed South African borders and has 60 000+ active members and 500+ studio locations across 27 countries. The Octiv team has grown from one man to an exceptional team of people, all passionate about helping fitness studios thrive and grow.
Source: https://ventureburn.com/2022/09/octiv-closes-eight-figure-series-a-round-with-knife-capital/