New venture team taps and accelerates technology for the gym of the future
Rosemont, Ill., March 14, 2018 – Exercisers are transforming their workouts through technologies ranging from biometric monitoring and workout programming to virtual reality (VR) and artificial intelligence (AI). With fit-tech rapidly developing, fitness facilities are expected to provide new workout experiences that keep exercisers motivated and engaged. To forge the path of merging advanced technologies with everyday workouts, Life Fitness, the global leader in commercial fitness equipment, announced the creation of Digital Ventures Group (DVG). DVG is focused on accelerating technology adoption and innovation within the global fitness industry, and underscores Life Fitness’ vision to be the platform that connects the world to fitness.
DVG analyses market data and trends to identify leading-edge technology and innovations from other industries. It leverages those insights to establish partnerships with pioneers ranging from startups to big tech firms. Examples of their recent work include partnerships with VirZOOM, a developer of VR content and vSports technology, and Studio, a leading audio-coaching running platform. Both groups bring emerging technology into the gym environment in a unique and sustainable way, exclusive to Life Fitness’ broad commercial reach. The DVG team uses agile approaches to rapidly build prototypes and test market demand and consumer feedback.
The group also partners with TechNexus to find, fund, and grow technology ventures which will add value to club operators around the world. TechNexus is focused on mobile and cloud data analytics, artificial intelligence and machine learning, AR/VR, IoT, and robotics, and in turn, applies findings across various industries including fitness.
“Our industry is at an inflection point in which technology is moving to the forefront of how fitness facilities market and evaluate the fitness experience,” said Jaime Irick, president of Life Fitness. “What the industry needs now is the speed and focus of a start-up, combined with the resources, customer base and expertise of Life Fitness. At that intersection is DVG. It will lead the vision for the gym of the future.”
Each partnership and calculated investment by DVG seeks to address customer pain points and create new revenue streams for Life Fitness customers. The group will be led by Life Fitness Vice President of Digital Solutions, Jason Worthy.
“We’ve put together an impressive team of innovators, digital experience specialists, software developers and fitness business experts who take the best parts of our equipment and integrate it with cutting edge technology and fitness trends,” said Worthy. “We’re sourcing data from workouts to unlock business insights and workout recommendations to help drive operator and exerciser outcomes.”
DVG, using the flexibility of a startup, coupled with Life Fitness’ 50 years of industry leadership, strives to drive purposeful innovation across the industry.