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Business Observer Tuesday, Nov. 22, 2016 2 years ago

Tech firm picks up six-figure investment

Florida Funders will invest $400,000 into Peerfit.

Peerfit, a Tampa-based health technology firm that provides employers with a digital platform to offer health and fitness benefits for their workers, has received a $400,000 investment from Florida Funders.

The capital will help Peerfit, which enables companies to offer credits to employees to enroll in a variety of fitness classes, to further expand nationally from its Florida base. The model is aimed at encouraging wellness among employees and trimming company health care insurance costs and lost income.

Specifically, the Florida Funders' money will shorten times to deliver products to explore new opportunities.

“The collective knowledge, expertise and leveraged network from Florida Funders helped us grow in a way that a traditional investor cannot,” says Ed Buckley, Peerfit's CEO, in a statement. “Our Florida Funders investors will offer advice on something that we're working on, or provide introductions to subject matter experts as we take on new projects.”

Florida Funders, also based in Tampa, specializes in providing capital to early-stage Florida companies.

“Peerfit's rapid growth and significant partnerships with national insurance providers, such as Aetna, Cigna and United Healthcare, were clear signs that the company was on the right track,” says Florida Funders' CEO Marc Blumenthal.

“We're very impressed by the strides Peerfit has made so far, and we're looking forward to staying involved with the company as they execute plans facilitated by this round of funding.”

Created by Buckley, Scott Peeples and other University of Florida students in 2011, Peerfit's digital platform was available only in Florida until last year.

Today, the company operates in eight states and has 10,000 users accessing a nationwide network of boutique fitness centers and gyms, the company says.

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