Maryland Venture Fund Invests $600,000 in Motionsoft
Governor O’Malley, Lt. Governor Brown Announce $600,000 Growth Investment in Rockville-Based Technology Firm
October 15th, 2014
ANNAPOLIS, MD – The Maryland Venture Fund (MVF), the equity investment arm of the Maryland Department of Business and Economic Development (DBED), has invested $600,000 in Rockville-based Motionsoft, a leading provider of management software to gyms and fitness clubs. The investment comes as part of a $10 million Series B investment round led by Route 66 Ventures and included Edison Ventures as a co-investor. The State of Maryland’s investment is part of a multifaceted effort led by Governor Martin O’Malley to stimulate growth and job creation among high-tech startup companies in Maryland.
“We’re growing Maryland’s economy by investing in education, innovation, and infrastructure,” Governor O’Malley said. “Today’s investment is part of our focus on innovation — we are committed to supporting our entrepreneurs, innovators, startup companies and small businesses like Motionsoft because, in addition to being the future leaders of our economy, they are creating the jobs of today and tomorrow.”
“By investing in high-tech startups like Motionsoft, we’re ensuring that Maryland is a state where businesses want to stay and grow while also creating family-supporting jobs for our highly-trained workforce,” said Lt. Governor Brown. “The Maryland Venture Fund plays an important role in supporting our cutting edge startups, and we will continue to support our small business owners and entrepreneurs to help them create jobs and grow Maryland’s economy.”
“Maryland’s high-tech community is growing rapidly thanks to Governor O’Malley and MVF’s investment focus,” said Al Noshirvani, CEO of Motionsoft. “This investment from the Maryland Venture Fund allows Motionsoft to continue to capture the attention of top talent that drives our market growth and innovation. This is something we can all be proud of.”
Motionsoft’s leadership in member relationship management software (MRMS) and payment services is redefining health club management while enabling fitness operators to connect better with their members. For more information on Motionsoft, visit www.motionsoft.net
The Maryland Venture Fund is a regionally recognized leader in seed and early-stage investing and a national model for state-supported investment programs. With nearly two decades of experience and numerous successful investments, MVF invests in highly innovative technology companies across the full range of industry sectors including software, communications, cybersecurity and life sciences companies in the areas of healthcare IT, medical devices and diagnostics.
The Maryland Department of Business and Economic Development stimulates private investment and creates jobs by attracting new businesses, encouraging the expansion and retention of existing companies, and providing workforce training and financial assistance to Maryland companies. The Department promotes the State’s many economic advantages and markets local products and services at home and abroad to spur economic development and international investment, trade and tourism. For more information, visit business.maryland.gov.
InTouch Follow-Up Integrates with Motionsoft to Provide Health Clubs with Seamless, End-to-End Lead and Member Management Solutions
InTouch Follow-Up Integrates with Motionsoft to Provide Health Clubs with Seamless, End-to-End Lead and Member Management Solutions
Vancouver, BC – October 15, 2014
InTouch Technology, provider of health club sales and retention software, today announced that InTouch Follow-Up is now integrated with Motionsoft’s fitness club membership software. The new integration allows health clubs to choose separate best-of-breed software solutions to manage their sales efforts and club operations and have them work as seamlessly as a single solution.
By integrating InTouch Follow-Up and Motionsoft, leads that are added to or updated in InTouch Follow-Up will also be added and updated in Motionsoft, in real time. By reducing data entry and improving lead accuracy, the integration feature makes it easier than ever for Motionsoft customers to use InTouch Follow-Up for lead generation, sales growth and member retention.
“Developing and strengthening our partnerships is a large focus for InTouch Technology. We are always looking for ways to improve our software solution and believe that giving customers an elegant way to share information between their sales software and club management software strengthens our customers’ adoption of technology and helps them achieve quicker results,” explains Dag Lee, Director, InTouch Technology Inc.
“We partnered with InTouch because we wanted to give our customers and the industry a tool that will help increase the acquisition of new members” said EVP Bob Skinner. “However, this partnership goes beyond customer acquisition. By getting more people into health clubs were contributing to a healthier nation.”
While InTouch Follow-Up’s existing integration with Motionsoft’s e-Club software continues to automatically add leads to e-Club after they’ve been entered into InTouch Follow-Up, this is just the first phase of integration between InTouch Follow-Up and MoSo. The two companies plan to continue to enhance the integration as time goes on to make it even more streamlined for health clubs that choose to use InTouch Follow-Up for lead and member communication and MoSo for member billing and management.
About InTouch Technology
InTouch Technology is the provider of InTouch Follow-Up health club sales and retention software. InTouch Follow-Up helps health clubs capture all their leads and proactively communicate with them so they sell more memberships and personal training. Clubs define their own lead and member follow-up to fit their own sales process. All sales activities are tracked in InTouch Follow-Up so owners and managers can hold staff accountable. Over 900 health clubs in 17 countries use InTouch Follow-Up to drive their revenue by increasing membership sales and member retention. For more information, please visit www.intouchfollowup.com.
Motionsoft’s software and services redefine health club management. MoSo enables fitness operators to Get, Keep and Know their members better with forward-thinking member, facility and payment management technologies. As the premier health and wellness software pioneer, Motionsoft services commercial gyms, corporations, universities and hospitals. Motionsoft has recently added some of the fitness industry’s preeminent operations including Town Sports International, Equinox and Active Sports Clubs.
For more information, visit www.motionsoft.net.
Motionsoft™ Concludes Inaugural 2014 Technology Summit
Motionsoft Inc., a leader in SaaS member relationship management software (MRMS) and payment services today celebrated the successful conclusion of their inaugural 2014 Technology Summit held at the Marriot Marquis Hotel in New York City.
The invitation only Summit held on September 16th and 17th was attended by 60 industry executives and thought leaders from major fitness brands including Equinox, Town Sports International, GoodLife, Retro Fitness, and Xsport Fitness. Also in attendance were top payment companies, equipment vendors, retention and marketing agencies and private equity investors representing over 1,500 facilities and approximately 5 million gym members.
The Summit highlighted best practices for solving new technology challenges faced by the health and fitness industry. Panelists provided industry CEO’s, CIO’s and CFO’s in-depth presentations on the future of technology adoption integration in the health and fitness industry, pricing and promotional strategies to lower attrition rates as well as new product demonstrations.
Motionsoft’s2014 Technology Summit panels ranged from Leveraging Technology to Maximize Club Value and Understanding the Complex World of Payments to Unleashing the Power of Promotional Marketing and The Convergence of Equipment and Data.
Dr. Paul Bedford presented a session on Member Retention: Research and Tools, moderated by Motionsoft’s COO, George Pappas. The session provided valuable insights and methods to help gym owners increase member retention and revenue. Representatives from major fitness equipment companies including Technogym and Matrix also discussed their latest innovations and how member information, connectivity and data are playing a bigger role in their product roadmaps.
Attendees were extremely pleased with the presentations. “I have to give Motionsoft a tremendous amount of credit for stepping up and taking the initiative to bring together some of the biggest names in our industry. This is the kind of event that our industry has needed for quite a while” expressed Steve Groves VP & CIO at GoodLife Fitness, the largest fitness chain in Canada. Renowned club advisor Dr. Art Curtis of Curtis Club Advisors moderated The Convergence of Equipment and Data noting, “This has been the most important summit for technology executives in health and fitness this year. I definitely look forward to Motionsoft hosting this technology event next year.“”
“Technology is vital to our industry,” said Robert Skinner, SVP of Sales and Marketing at Motionsoft. “Keeping up with the pace of changes is extremely challenging. That’s why Motionsoft hosted this event so that fitness IT leaders, club operators, and executives could share industry insights and knowledge to support their businesses successful adoption and integration of new technology services, software and hardware. Our goal is to keep this industry thriving.”
“We’re providing our fitness industry customers with the information and tools to grow their business” stated Al Noshirvani, CEO of Motionsoft who was delighted with the outcome of the Summit. “It’s an honor to have the most influential leaders in our industry present today to collaborate on shared industry growth issues. Our objective was to facilitate these important dialogs and present extremely valuable insights that will be critical in the solution of these industry issues.”
Motionsoft’s next Technology Summit will be held in the Fall of 2015 with regional Thought Leadership Workshops beginning in the Spring of 2015. To request an invitation to our upcoming events, please contact Jennifer Field at email@example.com.
As a health and fitness software pioneer, Motionsoft’s leadership in SaaS member relationship management software (MRMS) and payment services is redefining health club management while enabling fitness operators to Get, Keep & Know™ their members better with forward-thinking member, facility and payment management technologies. Motionsoft’s customers include some of the fitness industry’s preeminent operators including Equinox, Town Sports International, Gold’s Gym LA and Active Sports Clubs as well as corporations, universities, hospitals, and hotels. You can learn more about Motionsoft by visiting http://www.motionsoft.net
FITNESS SF Upgrades Motionsoft™ Software to Include Entire Product Lineup: MoSo + MoSo Pay + MyClub
FITNESS SF, a growing chain of health clubs based in San Francisco, announced that they will upgrade all locations to Motionsoft’s full cloud-based product lineup, including MoSo, MyClub, and MoSo Pay. Motionsoft is a leading provider of club management solutions, and specializes in cloud-based solutions that automate member management and payments services for health and wellness centers. MoSo is Motionsoft’s premier cloud-based member relationship management suite, which FITNESS SF bundled with the MoSo Pay secure billing solution and MyClub, an online member portal.
“In the competitive landscape of California fitness clubs, technology can be a powerful differentiator. As a premier fitness club located in the heart of Silicon Valley, FITNESS SF was driven to upgrade from our Conexion (CX) platform to our newest offerings: MoSo, MyClub, and MoSo Pay,” said Al Noshirvani, CEO of Motionsoft. “By bundling our cloud-based offerings, FITNESS SF will have a true full service solution implemented at all locations, streamlining their operations and bringing them to the cloud. The convenience and ease of this all-in-one solution will be unparalleled, and the expected savings on internal IT resources will allow FITNESS SF to refocus their time and money on strategic growth projects aimed at increasing their presence in the Bay Area.”
FITNESS SF is a multi-location, San Francisco-based health club. With five clubs throughout the Bay Area, FITNESS SF is preparing to open their new flagship location, Mid-Market, adjacent to the world headquarters of Twitter in San Francisco.
“Our partnership with Motionsoft is an opportunity to leverage the most advanced technological resources available in our industry to continue bringing an unparalleled, high energy fitness experience to the Bay Area,” commented Zsolt Jackovics, owner of FITNESS SF. “Since we began our partnership with Motionsoft, we have experienced a successive pattern of growth. We are confident that Motionsoft’s newest services will allow us to continue this trend and go even further in our mission of servicing our Bay Area members.”
About Motionsoft Motionsoft’s software and services redefine health club management, enabling fitness operators to get, keep & know their members better with forward-thinking member, facility, & payment management technologies. The health and wellness software pioneer services commercial gyms, corporations, universities, hospitals, and hotels. Motionsoft has recently added some of the fitness industry’s preeminent operations including Town Sports International, Gold’s Gym LA and Active Sports Clubs. Visit us at: http://www.motionsoft.net
About FITNESS SF Welcome to FITNESS SF, a family-owned and operated, multi-location fitness company born in the city by the bay and serving fitness communities with a people-first attitude. Uncompromising cleanliness and a can-do friendly staff along with cutting edge equipment, innovative classes and results driven personal trainers have made us neighborhood institutions. Come by today and feel the difference our energy can make in your life. Connect with us at: http://www.FITNESSSF.com
Route 66 Ventures Announces $10 Million Series B Investment in Motionsoft
Route 66 Ventures, LLC, announced a $10 million investment in Motionsoft, a leading provider of Software-as-a-Service (SaaS) and payment solutions in the health and wellness industry. Route 66 Ventures, a private investment firm that provides venture capital and private equity to high-growth companies, will lead this Series B round of investment in Motionsoft. In addition, Motionsoft’s Series A investor, Edison Partners, will join Route 66 as a Series B co-investor.
“In the last two years Motionsoft has achieved milestones that have made investors extremely confident in our projections for future growth. Motionsoft continues to experience rapid growth and development, which will be accelerated by the Series B investment round. We believe that the investment theses of both firms perfectly complement our value proposition, and we could not be happier that the investment will be spearheaded by our experienced partners at Route 66 and Edison Partners,” said Al Noshirvani, CEO of Motionsoft. “Motionsoft will allocate a significant portion of this investment to expand sales and marketing operations.”
Motionsoft CEO Al Noshirvani added, “We are also thrilled to have Route 66 partner Pascal Bouvier onboard at Motionsoft. His combined expertise as a veteran technologist and growth investor make him uniquely qualified to advise our successful growth and expansion.” Bouvier, who brings more than 20 years of experience in investment banking in Europe and the U.S., and in operating emerging high-growth technology and consumer-facing companies, conducted Route 66’s due diligence and will lead the investment.
Pascal Bouvier commented that, “Motionsoft’s healthy, triple-digit growth is built on successful customer retention and a recurring revenue model, making the company an impressive addition to our portfolio. Route 66 is extremely confident in Motionsoft’s current operations and leadership, as well as their growth potential in both the software and payments space. With the strategic counsel, growth experience, and value-added resources of Route 66, the partners at Route 66 and the executives at Motionsoft agree that this venture will be instrumental in maximizing Motionsoft’s revenue, growth and development. We look forward to working with Motionsoft.”
Motionsoft’s core club management, payment services and marketing software automate membership retention and recruitment while providing strategic insights to fuel business growth. Clients include health clubs, corporate and hospital-based wellness centers, and universities. Motionsoft has recently added some of the fitness industry’s preeminent operators including Town Sports International, Equinox and Active Sports Clubs.
Motionsoft’s cloud-based software and financial services redefine health club management, enabling fitness operators to get, know, and keep their members better with our long-term member and facility management tools as well as our payment technologies. The health and wellness software pioneer services commercial gyms, corporations, universities, hospitals, and hotels. Connect with us at http://www.motionsoft.net.
About Route 66 Ventures
We focus on high-growth opportunities at all stages of a company’s life cycle. We are interested in the various sectors of the financial services industry and also consider opportunities outside financial services, including project finance, structured finance, and real estate investments, when an especially compelling value proposition exists Visit us online at http://www.route66ventures.com.
About Edison Partners
Established in 1986, Edison partners with entrepreneurs, service providers and other financing sources to build successful companies. Edison’s investment professionals are based in Lawrenceville, NJ, Needham, MA, New York, NY, McLean, VA and Cleveland, OH. Industry specialties include interactive marketing, internet & ecommerce, financial technology, healthcare IT, cloud-based software applications. Edison’s successes include Best Software, E-Transport, Gain Capital, Neat, Princeton Financial, Tangoe, Virtual Edge, Vocus and many other information technology leaders, which have a combined market value exceeding $5 billion. Edison Partners currently manages over $650 million and is actively making new investments. For more information on Edison Partners, please visit http://www.edisonventures.comand follow us on Twitter @edisonventure.
Motionsoft Inc. recognized in Inc Magazine’s List of America’s Fastest-Growing Private Companies for fourth year in a row.
NEW YORK, August 23, 2013 — Inc. magazine today ranked Motionsoft number 1591 overall and 124 in the Software Category on its seventh annual Inc. 500/5000, an exclusive ranking of the nation’s fastest-growing private companies. The list represents the most comprehensive look at the most important segment of the economy—America’s independent-minded entrepreneurs. Fuhu tops this year’s list. Motionsoft joins Converged Communication Systems joins LivingSocial, Edible Arrangements and Lifelock, among other prominent brands featured on this year’s list.
“Motionsoft is thrilled to be included for the fourth consecutive year with such a prestigious group of companies.” said Motionsoft CEO Al Noshirvani. “But most exciting for everyone at our organization is a sense that we are only at the beginning of what we can truly accomplish. With the two-year maturation of MoSo, cloud-based member relationship management software solution, and the growing importance of preventative fitness-based health care, we are able to do things for our industry, and for the end-users, that were never possible before. The opportunities on the horizon are endless and recognition from leaders like Inc. Magazine inspires our developers and client services team to remain steadfast with innovation.”
The company has recently added some of the fitness industry’s preeminent operations including Town Sports International, the publicly-traded company behind New York Sports Clubs, Philadelphia Sports Clubs, Washington Sports Clubs, and Boston Sports Clubs to its 2500-plus clients that include Equinox, Crunch, Gold’s Gym, Baptist East Hospital and Starbucks corporate.
In a stagnant economic environment, Motionsoft’s 249 percent growth rate was significantly higher than the median growth rate of 2013 Inc. 500|5000 companies, itself an impressive 142 percent. The companies on this year’s list report having created over 520,000 jobs in the past three years, and aggregate revenue among the honorees reached $241 billion. “Not all the companies in the Inc. 500 | 5000 are in glamorous industries, but in their fields they are as famous as household name companies simply by virtue of being great at what they do. They are the hidden champions of job growth and innovation, the real muscle of the American economy,” says Inc. Editor Eric Schurenberg. Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at http://www.inc.com/5000.
Motionsoft’s software & services redefine health club management, enabling fitness operators to get, keep & know their members better with forward-thinking member, facility, & payment management technologies. The health & wellness software pioneer services commercial gyms, corporations, universities, hospitals, and hotels.
About Inc. Magazine
Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc. (www.inc.com) is the only major business magazine dedicated exclusively to owners and managers of growing private companies that delivers real solutions for today’s innovative company builders. With a total paid circulation of 712,647, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology. Visit us online at www.inc.com.
Motionsoft™ named to Deloitte Fast 500 list of Fastest Growing Tech Companies in US for 2nd straight year
Attributes 518% Percent Revenue Growth to innovative client partners and a vibrant and growing active lifestyle industry.
Rockville, MD – Motionsoft, a provider of member relationship management software and financial services to the health and fitness industry, today announced it ranked 178th on Deloitte’s Technology Fast 500™, ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Motionsoft grew by 518% during the evaluation period.
Al Noshirvani, Chief Executive Officer, Motionsoft, credits the company’s growth to two things – one, the staff’s ongoing commitment to superior software development and support, and two, Motionsoft’s enabling technologies which empower customers to more effectively communicate with their members.
Noshirvani said, “Our competitors had become somewhat complacent with technology development, putting greater focus on billing services than better member management tools. We set out to disrupt that model and our growth is directly attributable to the fact that our customers have consistently exceeded industry retention & acquisitions metrics.”
“We are proud to honor the 2012 Technology Fast 500™ companies, and commend them for their outstanding growth,” said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications (TMT) leader. “These ground-breaking companies have outpaced their competition and are reinventing the way we do business today.”
“The companies on the Fast 500 list are among those that have demonstrated remarkable innovation, creativity and business savvy,” said Bill Ribaudo partner, Deloitte & Touche LLP and national TMT leader for audit and enterprise risk services (AERS). “As a result, these companies have continued to successfully forge ahead in a challenging economic environment. We applaud the leadership and employees of Motionsoft for this impressive accomplishment.”
This is the second year in a row Motionsoft has been ranked as a Technology Fast 500™ award winner.
About Deloitte’s 2012 Technology Fast 500™
Technology Fast 500, conducted by Deloitte & Touche LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2007 to 2011.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
Town Sports Selects MoSo Online for Move to Cloud
Leading owner and operator of fitness clubs in the Northeast and mid-Atlantic United States to launch first six clubs on MoSo, Motionsoft’s cloud-based facility management suite, by the end of November, with the remaining clubs scheduled to go live next year.
Rockville, MD – Motionsoft, a leader in providing member relationship management software and financial services to the health and fitness industry, today announced that New York-based Town Sports International (TSI), a leading owner and operator of fitness clubs in the Northeast and mid-Atlantic regions of the United States, will launch its first six clubs on MoSo, the firms cloud-based facility management suite, by the end of November with the remaining clubs scheduled to go live next year.
TSI will integrate MoSo MRM for member relationship and facility management, myClub online member portal and scheduling, and the Data Warehouse advanced reporting tool throughout the rollout.
“MoSo was built to help the best brands in fitness, like Town Sports, get, keep and know their members better with industry best business intelligence tools and online member services, integrated with cloud-based facility and member management software,” said Al Noshirvani, CEO of Motionsoft. “TSI was rigorous in exploring the best available solutions throughout our industry and we are thrilled that they determined Motionsoft would be their best partner for achieving their goals.”
“Adopting the Moso Platform as a cloud based service will enhance our member experience with new, easy to use and exciting tools to explore and reserve all of the products and services available to them,” said Paul Barron, Chief Information officer for TSI. “Having Motionsoft deliver, maintain and support the application allows us to refocus our internal IT resources on new strategic growth projects.”
About Town Sports International Holdings, Inc.:
New York-based Town Sports International Holdings, Inc. is a leading owner and operator of fitness clubs in the Northeast and mid-Atlantic regions of the United States and, through its subsidiaries, operated 160 fitness clubs as of June 30, 2012, comprising 108 New York Sports Clubs, 25 Boston Sports Clubs, 18 Washington Sports Clubs (two of which are partly-owned), six Philadelphia Sports Clubs, and three clubs located in Switzerland. These clubs collectively served approximately 529,000 members. For more information on TSI, visit http://www.mysportsclubs.com.
Motionsoft™ selected to Inc. 5000 for 3rd straight year
Health & wellness business solutions provider ranks No. 82 in the Software Category, and in the top 1000 overall, demonstrating Three-Year Sales Growth of over 330%
Rockville, MD (PRWEB) August 23, 2012
Inc. magazine today ranked Motionsoft number 778 overall and 82 in the Software Category on its sixth annual Inc. 5000, an exclusive ranking of the nation’s fastest-growing private companies. The list represents the most comprehensive look at the most important segment of the economy—America’s independent-minded entrepreneurs. Unified Payments tops this year’s list. Motionsoft joins Yelp, yogurt maker Chobani, Giftcards.com, KIND and famed hatmaker Tilly’s, among other prominent brands featured on this year’s list.
“Motionsoft is thrilled to be included once again with such a prestigious group of companies,” said Motionsoft CEO Al Noshirvani. “This year’s release of MoSo, our next generation member management software, has generated enormous excitement from leaders throughout the health and wellness industry and Inc’s recognition only inspires our team to continue our path of life changing, and business changing, innovation.”
The recognition comes as Motionsoft’s highly awaited SaaS product, MoSo, a fully cloud-based member relationship management software solution, marks the first anniversary of its enormously successful rollout. The company has recently added some of the fitness industry’s preeminent operations like San Francisco’s Club One and The Atlantic Club of New Jersey to its already heralded list of 2500-plus clients including Equinox, Crunch, Gold’s Gym, Baptist East Hospital and Starbucks corporate.
In a stagnant economic environment, median growth rate of 2012 Inc. 500|5000 companies remains an impressive 97 percent. The companies on this year’s list report having created over 400,000 jobs in the past three years, and aggregate revenue among the honorees reached $299 billion.
“Now, more than ever, we depend on Inc. 500/5000 companies to spur innovation, provide jobs, and drive the economy forward,” says Inc. magazine Editor Jane Berentson. “Growth companies, not large corporations, are where the action is.”
About Inc. Magazine
Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc. (http://www.inc.com) is the only major business magazine dedicated exclusively to owners and managers of growing private companies that delivers real solutions for today’s innovative company builders. With a total paid circulation of 712,647, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology. Visit us online at http://www.inc.com.