October 27, 2016 – Rockville, MD – Motionsoft, the leader in software, payment processing, and back office support services for the fitness, health and wellness markets today announced the closing of its Series C funding round. The round included investments by existing investors Route Sixty-Six Ventures as well as from co-founders Al Noshirvani and Hossein Noshirvani, and Edison Partners.
“Motionsoft has experienced strong growth across the enterprise market with our MoSo™ club management software and our outlook for 2017 and beyond is equally strong. It’s something we’re really proud of. Our engineering teams have advanced the capabilities of our club management software with industry-leading billing, reporting, and scheduling solutions. Our focus is to make member management and payment processing integrated, faster, and easier for club owners and operators, and the members they serve,” noted Al Noshirvani, Chairman and Chief Strategy Officer, Motionsoft.
Motionsoft will use the expansion capital to grow sales and market MoSo™, an enterprise software solution designed for large fitness operators, and MoSoClub™ a robust cloud-based gym software platform with integrated payment processing for facilities that have outgrown their existing member management software.
Motionsoft will also use the funds to hire more professional staff and grow the firm’s successful Full Service and accounts receivables offerings that launched in early 2016.
“As CEO, my focus will be to use these funds to align our corporate strategy and operational goals so that Motionsoft continues to build upon and cultivate our team’s hard work and dedication in developing software to support our customers’ commercial success while delivering unmatched value and innovative solutions for the fitness, health and wellness markets,” expressed John Cramp, CEO, Motionsoft.
“We see Motionsoft as an industry leader in the delivery of member management and payments solutions for the fitness, health and wellness markets. The company is helping club owner and operators realize the value of cloud-based software solutions and we are confident that the executive team will successfully advance its core products as well as broaden and deepen their sales pipeline,” noted Ryan Katz, Managing Partner, Route Sixty-Six Ventures.
To demo Motionsoft’s software, payment processing, back office support services, and accounts receivables solutions visit Motionsoft.net or follow Motionsoft’s fitness, health and wellness technology Tweets on Twitter @motionsoft.
Founded in 1985, Motionsoft is the leader in software, processing, and back office support services for single location studios and gyms, multi-unit clubs and franchises, corporate wellness programs, university recreation centers as well as hospital wellness centers. Motionsoft’s comprehensive software solutions are used by more than 2,500 innovative businesses that require technology-driven member, facility, and payment processing solutions. Motionsoft’s software suite includes MoSo™, an enterprise software solution designed for large fitness operators and MoSoClub™, a club management software solution for small and mid-sized businesses. Motionsoft’s integrated gateway for payment processing, MoSoPay™, processes $2.5 billion annually while supporting over 5 million gym memberships in the U.S. and Canada. Motionsoft Full Service™ is the fitness industry’s most powerful member services and accounts receivables solution that helps clubs keep their past due members active while getting member accounts current. Motionsoft is also the host of the annual industry event Motionsoft Technology Summit. You can learn more about Motionsoft by visiting https://www.motionsoft.net or follow @motionsoft.
About Route 66 Ventures
Route 66 Ventures is a private investment firm focused on helping entrepreneurs shape the financial services landscape of tomorrow by providing Venture Capital and Credit solutions to emerging financial technology and services companies. For more information, visit http://route66ventures.com.
About Edison Partners
For 30 years, Edison Partners has been helping CEOs and their executive teams navigate the entrepreneurial journey and build successful companies. Through the unique combination of expansion capital and the Edison Edge platform, consisting of strategic advisory, the Edison Director Network, and executive education, Edison employs a holistic approach to nurturing invention and creating value for growth stage businesses ($5 to $20 million in revenue) in financial technology, healthcare IT, enterprise IT, and marketing technology industries. Edison investment objectives also include: buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison’s active portfolio has created aggregate market value exceeding $5 billion. Its long-tenured team based in Princeton, NJ manages more than $1 billion in assets throughout the eastern United States. For more information, visit http://www.edisonpartners.com.