A sports platform is eyeing UK expansion after raising $60 million in Series B funding.
Founded in 2016, Let’s Do This allows people to find, book and prepare for the best running, triathlon, cycling and obstacle experiences around the world.
With more than five million active users, the platform brings thousands of events together in one place, enabling users to easily search and choose their next experience – including top flagship events like Hackney Moves, The Great North Run and the Oxford Half.
The Series B round was led by Craft Ventures and Headline, who join megastars Paula Radcliffe, Serena Williams and Usain Bolt as investors in the company. The Series B was supported by existing investors EQT, NFX and Y Combinator, and joined by newcomer Morpheus Ventures.
The investment will fund ongoing US expansion, including the launch of its new Colorado headquarters, and also grow its UK team.
The company told BusinessCloud that it plans to bolster the team by approximately 50 employees and, in the longer-term, will likely need to move to larger offices in London – probably around the start of 2023.
“We are living in a world where we spend more time than ever with our heads buried in our phones,” said Alex Rose, co-founder and COO.
“The growing influence of social media and the metaverse is a depressing extension of this, and the effect on our health and wellbeing cannot be ignored. We want to be the online platform that helps people get offline – so they can live life to the full, doing things that make them happy.
“We have experienced phenomenal growth over the past 12 months – despite our industry taking a major hit during the pandemic. It is a clear sign that people are desperately craving face-to-face events that allow them to connect with others, feel part of a community and participate in something truly special.”
The funding will also be used to enhance the website and app experience of searching and booking events.
The company will also be building out the social features of the Let’s Do This app, enabling users to follow each other, discover new events based on their network, and share training progress – a major factor in participant motivation.
Let’s Do This will also be expanding its team with a number of key hires, particularly in engineering, with plans to grow from 85 to 150 employees by the end of the year.
Serena Williams said: “I love sport and have seen first-hand the positive impact it can have on people’s lives. But, many people are often held back from discovering sport and the benefits it can bring them.
“Let’s Do This breaks down this barrier by allowing people to discover new ways of keeping fit, encouraging them to push themselves and providing a sense of community and camaraderie in the process, irrespective of fitness levels. This is a mission that I am proud of -bringing more people together through the power of sport.”