We were swimming in ice together with the team of one of our portfolio companies, Laturi. Here’s Vesa and Juho after the swim.
One of the most interesting aspects of working in a VC company is the variety of things one get to see, learn and experience. During the first operational year we’ve looked through about 300 companies, including their business plans, flew around the world, prepared patent papers, crafted viral metrics, simulated business models, recruited and negotiated deals for our portfolio companies and met literally thousands of people. Yes, it’s about doing, it’s about learning, it’s about learning fast. Pretty much the same stuff our portfolio companies do – though from a different perspective.
Anyways, here’s an example of a day (today) with some stranger end of things we had a chance to experience; first some email, meetings, the normal stuff. Then an interview with Kauppalehti + swimming in the ice with the team of one of our portfolio companies, Laturi. They’re preparing for Polar Bear Pitching you see… and this sort of strange things happen pretty often.
The first step for a Personal Trainer with a new client is always to start with a fitness assessment. Traditionally this time consuming process requiring heavy and expensive equipment limits the number of clients personal trainers can serve. Laturi has designed a way to carry out fitness assessment quickly and efficiently. With the Energy Test, one personal trainer is able to test up to 400 people in just a week, the improvement is several folds compared to traditional means. The web based Energy Service and the Energy Test equipment is easy to carry, inexpensive and highly mobile. As a result of the Energy Test person gets an Energy Index, which tells the time that peak energy output can be experienced, whether at work, performing routine chores or engaging in recreational activities. Energy Index tells the benefit of being fit in such a way that gets people excited about taking care of their well being.
Laturi’s web application tells in very understandable and motivating way about your fitness. In addition to Energy Index itself, it also breaks the results into sub-categories that visually show your strengths and help pinpoint the possible problem areas.
Prior to Butterfly’s investment Laturi has filed methodology patent, launched the service, sold the Energy Test to over 20 businesses providing fitness assessments and as a result gathered validation for their business model.
“Realizing the benefits of improved employee’s fitness, American businesses invest over 20 Billion dollars annually in their efforts to help employees increase their level of physical activity. We have been seeking for an investor who shares our belief in the growing health and fitness market and can provide support for our plans to create a scalable international business. We are truly excited that we get to work with Butterfly and get concrete and committed support along the way.” (Vesa Tornberg, Founder of Laturi)
Butterfly invested into Laturi because of the extremely positive user experience of the service, Laturi’s strong and committed team with superlative industry expertise and balanced skill set. There is a fast growing market worth of hundreds of millions for Laturi’s product and Laturi has a solid plan for the distribution model. Furthermore the business model already has validation. Butterfly’s investment will be used for international growth, enhance the business model and establish the required metrics to leverage the valuation up for follow-on financing rounds.