The sports startup firm Let’s Do This has received $15 million in funding from investors, including record-breaking superstars Usain Bolt, Olympic medalist from Jamaica, and American 22-time Grand Slam Champion, Serena Williams. Both athletes were involved in the initial funding effort of the endurance events marketplace in September of 2019. With the support of sports stars and a major effort to obtain funding from investors in Silicon Valley, the startup achieved a Series A round totaling $15 million from European/U.S. VC EQT and the previous investors. These investors included Pete Flint of Trulia and Y Combinator, along with the sports stars. The startup provides a platform listing 30,000 races that includes all distances and disciplines. The platform touts its position as the biggest marketplace for endurance athletic events in the world. It provides important information concerning the races as well as providing exclusive booking perquisites for its members. These perquisites include free protection in case of cancellations. The platform has agreed to partner with Hearst to publish the totality of its race listings in Runner’s World, Men’s Health. and Women’s Health in both the United States and the United Kingdom. The platform plans to implement an expansion of its team at its offices in San Francisco and London.
The firm was founded by graduates of the University of Cambridge, Alex Ross and Sam Browne, both of whom are running and cycling enthusiasts. They had experienced first-hand the difficulties associated with the process of finding and entering relevant race events. The algorithm used by the Let’s Do This platform is based on data points gathering from race history, social links, and fitness tracking, among others. The data is processed to provide personalized race recommendations for individuals. According to the start-up, people interested in developing a fitness habit are 12.5 times more likely to do so after a year from the date of signing up to participate in a race than they are from getting a gym membership.
Williams said she had personally seen the impact that race events have toward motivating people to become more fit, healthier, and happier. She noted that Let’s Do This makes race events more accessible and helps to support athletes at all levels of fitness. Women, in particular, are less likely to participate in obstacle races or marathons, so the platform has a critical role in encouraging them to move past their comfort zone to make positive life changes. Usain Bolt share that throughout his career he had the luck to inspire people to pursue their dreams and participate in physical exercise. He called Let’s Do It a “natural fit” with what he cares about and believes in. He said he was happy to support the startup’s mission to motivate people “to have epic experiences.”
Photo source: Usain Bolt Instagram