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SEED Capital invests in Danish mobile application
Posted: December 27, 2010
SEED Capital has invested in the Danish sports community Endomondo where users can record their sporting activities through website or phone and share the results with their friends. With this investment Endomondo expects to further boost an already amazing development.
Endomondo.com is currently undergoing an impressive growth with approximately 700,000 registered site users spread over 200 countries. The mobile application has been downloaded 1.4 million times and was recently voted "Best Mobile Application" in a nationwide competition in Denmark.
- Endomondo is using their strong growth in social media to create a service to the growing number of exercisers. It is a company with great global potential, which we in SEED Capital have focused on for several years. The team behind Endomondo is professional and has worked hard to create user growth which make Endomondo a very exciting investment, says Niels Vejrup Carlsen, Investment Manager at SEED Capital.
For Endomondo the investment means opportunities:
- We have from the beginning focused on growth and the investment from SEED Capital allows us to speed up the development of our service and attract new users, says Mette Lykke, on of the founders of Endomondo.
About Endomondo
Endomondo was founded in November 2007 by three former management consultants from McKinsey & Company. The vision has always been to make it more fun to exercise. The company currently has 16 fulltime employees, 11 of which are located in Copenhagen.
Source: SEED Capital
