Exer Labs secures $2M in seed fund round bringing total raised to $4.5M

Friday October 9, 2020 0 comments Tags: Denver, Exer Labs, Mike Lee, Albert Lee, Exer Studio

DENVER -- Exer Labs announced it raised  an additional $2 million  in seed funding, bringing its total raised to $4.5 million.Exer-Labs-logo 

Investors in the latest round include GGV, Jerry Yang's AME Cloud Ventures, Morado Ventures, Range VC, Service Provider Capital, Shatter Fund, MyFitnessPal co-founders Mike and Albert Lee, and existing investors Signia Venture Partners and former Zynga COO, David Ko.

Exer announced it is launching Exer Studio, a Mac app that delivers a Peloton-style leaderboard and workout stats to any virtual workout using edge-based AI and computer vision, without extra hardware.

Studio offers coaches an opportunity to deliver better feedback and more engagement during their video streamed workouts, on any platform like Zoom or IG Live, the company said.

The pandemic has made virtual workouts a new normal, and with 60% of fitness consumers expressing hesitation about returning to in-person gyms, Studio's enhanced virtual workouts can help coaches retain and grow their communities by enhancing their digital offering.

Real-time workout data, post-workout summaries and competitive session leaderboards give consumers the feedback and community they've missed, but from the comfort of their homes.

In private testing since May with coaches and studios in San Francisco, Denver and New York, Studio is now available via a waitlist to coaches and fitness enthusiasts to enhance virtual workouts worldwide, the company said.

Studio uses the camera of a user's device to track motion and velocity, generating workout data and an output score using a proprietary AI algorithm that runs "on the edge" - and it never sends data back to the cloud.

There is no need for any third-party monitors or hardware. Future plans include a browser-based version to support all laptops and a tablet or phone app, along with more features and support for on-demand classes.

Exer's AI platform that powers Exer Studio has been in development for two years and was publicly debuted in the Perfect Plank app -- a mobile app with real-time AI coaching and feedback.

Also in the pipeline is a Physical Therapy AI coaching app that is currently in beta testing in clinics across the country, Exer said.