ABS Capital Partners Leads $22.5M Financing for Athletes' Performance
Athletes’ Performance, a provider of performance training, nutrition and physical therapy for athletes, military and corporations, received a $22.5 million investment from ABS Capital Partners, a Baltimore based investor in later-stage growth companies. ABS Capital joins the company’s initial investor Polaris Venture Partners.
Athletes’ Performance will use the funds to accelerate the growth of its corporate wellness business, Core Performance, and to continue its ongoing research and innovation in advancing the field of human performance.
As a result of the financing, John Stobo, managing general partner at ABS Capital, will join the company’s board of directors.
“Athletes’ Performance has invested heavily in research and innovation to become the leader in elite and professional athlete training,” said Mark Verstegen, founder and president of Athletes’ Performance. “Now, recognizing the need for efficient, effective and engaging wellness solutions, Core Performance combines the applied research and development from AP with proprietary, prescriptive technology to optimize health for employees and companies alike.”
Core Performance corporate wellness programs are comprised of systems designed to drive employee engagement and measurable wellness results through the development of personalized plans that empower an organization’s employees to change how they look, feel and perform at work and in life. Core Performance programs can incorporate an array of elements including web-based instruction and results tracking, advanced onsite fitness centers and workplace activation through health and wellness coaches with expertise in the widely recognized Athletes’ Performance methodology.
Specifically, Core Performance has created a proprietary Prescription Engine that leverages the results of an employee’s assessment and 32,000 rules to generate an individualized workout every time he or she trains, producing medical-grade results with intelligence-based programming that tracks real-time data and adapts to real-time inputs.
“We want to lead the charge towards an emphasis shift from reactive to proactive health,” said Dan Burns, CEO of Athletes’ Performance and Core Performance. “Historically, while industry research has shown that corporate health centers can offer employers an immediate savings of 10 to 30 percent on healthcare costs, engagement and quantifiable results have been lacking. We have been able to demonstrate with our corporate clients that we can empower people to change their lives, and by equipping them with the right knowledge, tools, and support, we can create sustainable lifestyle change that delivers a far more powerful ROI to the company. The investment and support from ABS Capital will give us even more resources to ensure we leave no stone unturned in delivering unmatched outcomes to our clients.”
“Athletes’ Performance has all the ingredients of a great growth company–an established brand, market leadership and a strong management team–all with a significant market opportunity,” said John Stobo of ABS Capital. “The Core Performance business is well-positioned to capitalize on companies’ increased focus on proactive wellness programs that can improve employee productivity and retention, while reducing the cost of healthcare and absenteeism.”
Athletes’ Performance has a global footprint, operating four U.S. based facilities and consulting worldwide with leading teams, athletes and organizations. Core Performance launched corporate wellness programs just two years ago and has already been adopted throughout the United States and in Europe. CP clients include Intel and Walgreens, and the company’s product suite includes offerings for leading executives, support for warehouse and distribution center employees rooted in AP methodology, digital solutions and onsite fitness centers.
ABS Capital Partners specializes in four growth sectors–business and education services, health care, media and communications, and technology–and has invested in over 100 growth companies over the past two decades. With over $2 billion raised since inception, including $500 million in its latest fund, ABS Capital continues to build on its strong reputation for teaming with CEOs and market leaders to deliver strong returns to investors.
About Polaris Venture Partners
Polaris Venture Partners is a partnership of experienced investors, operating executives and entrepreneurs. The firm’s mission is to identify, invest in and partner with seed, early stage and middle-market businesses having exceptional promise, helping them to grow into market-leading companies. Polaris invests in businesses across a number of sectors including technology, consumer services, and life sciences. Past Polaris-backed successes include: Adnexus (acquired by BMS), Advanced Inhalation Research (acquired by Alkermes), Akamai Technologies (AKAM), Allaire (ALLR, acquired by Adobe), Alnylam Pharmaceuticals (ALNY), Asthmatx (acquired by Boston Scientific), Athenix (acquired by Bayer), Glycofi (acquired by Merck), Internet Brands (acquired by Hellman and Friedman), Ironwood (IRWD), LogMeIn (LOGM), Momenta Pharmaceuticals (MNTA), Powersoft (PWRS, acquired by Sybase), Solidworks, and TechTarget (TTGT). Its current portfolio includes notable investments which include: Adimab, Art.com, Athletes’ Performance, Cardlytics, Confluence, e-Rewards, Focus Financial, LegalZoom, LivingProof, and ShoeDazzle.
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