Tampa fitness startup Peerfit attracts $18 million investment from San Francisco fund

Along with the investment, Virgo Investment Group managing director Pooja Goel will join Peerfit's board of directors as its first female member.
Peerfit CEO Ed Buckley III (far right) says he's excited to partner with the Virgo Investment Group, based near San Francisco, as Peerfit prepares to offer fitness and health programs for people enrolled in Medicare Advantage plan. In this photo taken two years ago at Tampa Bay Wave in downtown Tampa, Buckley joins the leaders of three other startups that, like Peerfit, have relocated from Gainesville to seek greater business exposure in Tampa. JAMES BORCHUCK | Times (2017)
Peerfit CEO Ed Buckley III (far right) says he's excited to partner with the Virgo Investment Group, based near San Francisco, as Peerfit prepares to offer fitness and health programs for people enrolled in Medicare Advantage plan. In this photo taken two years ago at Tampa Bay Wave in downtown Tampa, Buckley joins the leaders of three other startups that, like Peerfit, have relocated from Gainesville to seek greater business exposure in Tampa. JAMES BORCHUCK | Times (2017)
Published March 20

Tampa fitness startup Peerfit has received an $18 million investment commitment from the $1.1 billion Virgo Investment Group, based near San Francisco.

As part of the investment, Virgo managing director Pooja Goel will join Peerfit’s board of directors as its first female director. Peerfit’s board already includes Tampa Bay Lightning owner Jeff Vinik, Clearwater real estate executive Lee Arnold and Florida Funders general partner Marc Blumenthal.

PREVIOUS COVERAGE: Lightning's Jeff Vinik, Outback's Chris Sullivan among local investors in Tampa startup Peerfit

Peerfit has 98 employees, many based in Tampa but some working across the country. Its digital platform allows more than 12,000 employers to offer their workers access to a network of fitness studios and gyms using workplace wellness funds, and it lets users find fitness opportunities that match their interests.

Goel, who oversees health care investments at Virgo, will focus on Peerfit’s Medicare expansion project, called, Peerfit Move, which aims to reach Medicare Advantage plan enrollees beginning in 2020.

"Peerfit has identified a unique need in the employer wellness and Medicare space, building an offering that appeals to employees, seniors, employers, and health plans," she said in an announcement of the investment.

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Contact Richard Danielson at rdanielson@tampabay.com or (813) 226-3403. Follow @Danielson_Times

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