An online digital fitness program designed specially to help senior citizens live their lives to the fullest, Bold, has secured US $7 million in a seed investment publicized on the 4th of February 2021. The round was led by Julie Yoo, a general partner of the prominent, Silicon Valley-based Andreessen Horowitz. While virtual fitness programs have gained a lot of traction and support during the global pandemic, Bold targets their services to older adults in an attempt to help them live a healthy, exciting and strong life.
Purpose of the Investment
The ultimate mission of Bold and their plans for the latest investment are one and the same. The startup plans to utilize all resources at their disposal (both received and owned) to help improve lives and enhance health of older adults. They incorporate an active approach in ensuring good health of senior citizens while avoiding the consequences of a gathering due to the global crisis.
Products & Services offered
With Bold’s services, members can enjoy easy and convenient access to scientific assessments, expert trainers, and personalized workout plans to help improve their balance, strength and flexibility. This is done so as to ensure freedom to pursue whatever kind of life is desired by users with no limits on age. Bold offers a wide range of exercise programs from short, seated Tai Chi class once a week to cardio and strength classes multiple times a week.
The process of applying is completely user friendly and relatable according to members. After the initial application and filling out of forms on the startup’s web-based platform, a workout program is established based on the data provided and designed to meet the user’s needs individually. According to the co-founder and CEO of Bold, Amanda Rees, “Our goal is to meet a member at their point of need, and then using our programming, aid their exercising journey by selecting a workout plan to meet their immediate desires.”
Bold’s latest investment came at a sensitive time in the healthcare industry. Plans have been made to increase the funds provided to ensure better healthcare facilities for the older population. In a time that prioritizes cost reduction and optimal healthcare services, Bold’s preventive approach to health and wellness is one that impacts lives as well as curbs cost for the economy since “prevention is better than cure”. Research clearly shows that “falls” is the leading cause of injury and death among the older population. This is one area where the services provided by Bold can be a great impact since their workout plans (even one of low-intensity) can help improve strength and balance thereby minimizing the incidence of falls.
Going forward, the startup plans to collaborate with risk-bearing providers and Medicare advantage organizations in order to roll out their services to customers for free.
Founder’s Story
Amanda Rees disclosed in an interview that the idea for Bold came from time she spent helping her grandmother through health issues like falls. “I kept trying to come up with solutions we could provide to keep someone healthy for a longer time, rather than waiting until they have a fall or something else goes off the rails to intervene” she said. She started Bold to utilize what she’d learned from her own experience in yoga and dance to help her grandmother practice maintaining balance in order to prevent future falls. According to Rees, “My passion really was around ways to kind of broaden the aperture and make these solutions more accessible and focused towards older people.”
Company Profile
Bold is an at-home digital fitness platform with its headquarters in San Mateo, California, United States. The startup was founded by Amanda Rees and her partner Hari Arul in the year 2017. This investment is the startup’s very first official round and funds raised outside of bootstrapping. The company currently has one partner but actively seeks to find more investors and funds. Bold is geared up and on the fast track to achieving their ultimate goal of giving happy, healthy and free lives to the older populace of the world at minimal to no cost whatsoever.
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