Gyminee, a fitness-oriented social network that was part of the TechStars class of 2008, has closed a $525,000 seed funding round led by FF Angel LLC, with a number of angels including Garrett Camp (StumbleUpon) and Tim Ferriss also participating. Alongside the funding news, Gyminee is also announcing a total rebranding – the company will henceforth be called DailyBurn (which is significantly easier to spell), and the site has seen a complete redesign.
Gyminee first launched in late 2007, coming out of beta in January 2008 (the company had launched before it joined the TechStars program). Since then it has grown to 125,000 members, and while the site has to deal with some users dropping off as they get lazy and stop exercising, it reports that active users have managed to shed an average of 6.2 pounds of fat, or gain 5.75 pounds of muscle, depending on their goal.
The overall purpose of the site is to help you lose weight and gain muscle by tracking every aspect of the food you consume and your workouts, all presented in a very attractive interface. The site offers a database of thousands of foods, allowing you to quickly figure out how many calories you’ve eaten throughout the day. You can input stats from your daily exercise regime (number of miles run, bench-press weight, etc.), so you can track your progress over time on slick graphs. The site’s social features allow users to share exercise plans and try to motivate each other.
DailyBurn generates revenue by offering a set of premium features, which include a meal planner, more nutrition stats, and exercise plans created by fitness professionals, as opposed to other users. CEO Andy Smith says that the premium plan has been seeing a high conversion rate, which helped make the company appealing to investors. The company will soon be releasing a native iPhone application that will allow you to update your workout profile on the go, and will also be opening up its API to third parties.