The additional capital will help Endomondo set up an office in Silicon Valley, and explore revenue opportunities in order to reach profitability by the end of 2012.
Endomondo aims to make fitness more fun with social factors to inspire and motivate users.
Says Mette Lykke, co-founder of Endomondo:
“It’s not that people don’t know exercising is good for them, it’s just that they lack the motivation.
We don’t believe that aggregating people’s health data is gonna do the trick alone. People will change behavior when they are motivated because something caught their interest or when faced with positive social peer pressure.
When users compare themselves to their peers, especially close connections like friends and family, then the fun and social factor works for fitness and they get motivated.”
Endomondo’s Sports Tracker app, which was first launched in September 2008, can be used for running, cycling, walking and all other distance-based outdoor sports.
Using GPS, the app tracks route, distance, duration, split times, calorie consumption, and more, while providing audio feedback on performance.