(Photo by Pixabay user ID 12019, used under a Creative Commons license)
Rockville, Md.-based Motionsoft announced that it has raised a $17 million financing round funded exclusively by Motionsoft’s initial investors Edison Partners, Route 66 Ventures, and the company’s founders Al and Hossein Noshirvani.
Founded in 2004, Motionsoft is a SaaS-based company for organizations who work with memberships in the fitness and wellness industry. Motionsoft provides software and business management services to fitness clubs, corporate fitness facilities, hospital wellness centers and university recreation centers.
Motionsoft said the funding will go toward enhancing its product offerings, fueling company growth and scaling its presence in the health and fitness industry.
“Our focus over the next three years will be to capture a larger share of a growing worldwide market, deliver unparalleled levels of customer service, and provide our employees with a challenging and rewarding work environment. This funding will allow us to invest in the tools and resources needed to help our clients exceed their members’ expectations,” Motionsoft CEO Rick Auletta said in a statement.
Motionsoft media representative Colleen Wolak told Technical.ly that this funding round could come with some hiring plans as the company plans to grow. She said the funding will specifically target sales, marketing and operational improvements within the company.
Motionsoft has two flagship products that its 2,900 fitness operator customers use. The first is called MoSo which is a enterprise software solution designed for fitness operators who require custom software and service solutions. The second product is called MoSoClub which is a cloud-based club management software solution.
In the news release, Al Noshirvani said the funding round “is well-timed to meet the growing demand of health and wellness facilities who want to take their companies—and their members—to the next level.”-30-
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