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23.
May
2019.
Success as Revoola is Accepted as SETSquared Scale-Up Programme Member
 Success as Revoola is Accepted as SETSquared Scale-Up Programme Member


The FitTech company, Revoola, has confirmed that its application to join the leading business incubator SETSquared’s Scale-Up programme has been successful. Revoola is the developer of a highly sophisticated and interactive Mind & Body fitness app, plus a wide range of totally interactive multi-disciplined fitness classes – streamed live or on demand – via any smartphone or tablet.


“This is fantastic news for us,” said Mark Williams, Revoola’s co-founder. “SETSquared has twice ranked as the Global No. 1 business incubator and provides a wide range of highly acclaimed support programmes that help businesses like Revoola make that all-important transition from having a great idea and turning it into a thriving business.”


Revoola allows users to track, share and compare their effort across any physical activity indoors or out. The exclusive Revoola Effort Value “REV” allows users to measure and compete on an equal basis, regardless of fitness level, age, sex or weight. The unique app also provides a mental health toolkit for all users to keep track of their mindful activities via Revoola Mindful Minutes “RMM”.


Developed in partnership with leading Sports Scientists, an essential element to Revoola is its unique and patentable “REV” which offers users a golf-style handicapping system, allowing participants of all levels the opportunity to compete on equally, irrespective of type of exercise, age, weight, sex, fitness level etc


Revoola's innovative blended strategy is to focus equally on training both the body and the mind. The Revoola Mind classes and activities have been developed in conjunction with leading experts and proven clinical research, focusing on combatting Anxiety, Depression, Resilience and Stress. “RMM” allows users to monitor and track their mindful activities. 


SETSquared is a unique enterprise partnership and a dynamic collaboration between the leading five research-led UK universities: Bath, Bristol, Exeter, Southampton and Surrey.

Since 2002, over 6500 companies have participated in SETSquared programmes - from incubation to scale-up. With its help over £1,8bn of investment has been raised and 10,900 jobs have been created resulting in a £8.6bn gross value added (GVA) contribution to the wider economy.


“Being part of the SETSquared Scale-Up programme provides Revoola with a single gateway to academic excellence and expertise. The programme provides expert support around how to submit the best collaborative bids between scaling companies like us and potential university partners, as well as offering a range of investment activities,” said Williams.


Revoola proposed three R&D projects to the SETSquared Scale-Up programme, each with the potential to attract funding of between £500k and £1m, and hopes to participate in the business incubator’s investor event to be held this October at the London offices of KPMG.


“This event will be key for us. We will be given the opportunity to present along with three to five other businesses. all looking to raise between £1-£10m, to over 200 pre-qualified angel and institutional investors, with a bias towards institutional investment.


“SETSquared has an enviable reputation for helping secure investment for their partner businesses, so our acceptance onto its Scale-Up programme is the best possible news for us,“ said Williams


“In addition to investment in Revoola’s R&D projects, our partnership with SETSquared has the possibility to accelerate the development of additional IP, secure our next round of investment and to connect us to potential major customers in the UK and beyond.”


About Revoola:


Revoola is a FitTech company which is a highly sophisticated and interactive Mind & Body fitness App. In addition to a wide range of totally interactive multi-disciplined classes – streamed live or on demand – via any smartphone or tablet, Revoola allows users to track, share and compare their effort across any physical activity indoors or out. The exclusive Revoola Effort Value “REV” allows users to measure and compete on an equal basis, regardless of fitness level, age, sex or weight. The unique app also provides a mental health toolkit for all users to keep track of their mindful activities via Revoola Mindful Minutes “RMM”.


Revoola Effort Value (REV)

Developed in partnership with leading Sports Scientists, an essential element to Revoola is its unique and patentable “REV” which offers users a golf-style handicapping system, allowing participants of all levels the opportunity to compete on equally, irrespective of type of exercise, age, weight, sex, fitness level etc


Revoola Mind “RMM”

Revoola's innovative blended strategy is to focus equally on training both the body and the mind. The Revoola Mind classes and activities have been developed in conjunction with leading experts and proven clinical research, focusing on combatting Anxiety, Depression, Resilience and Stress. “RMM” allows users to monitor and track their mindful activities. 


Revoola Body

Revoola’s curated exercise classes including running, cycling, HiiT, yoga, pilates, amongst others are individually presented by leading qualified instructors. Revoola offers a host of unique elements, including interactive leaderboards which allow users to compare their performance data with other users in real time, wherever they are in the world. The technology enables both individual and team challenges across all exercise types and can be utilised by all ages.


Inclusivity & Diversity

Revoola and in particular “REV” and “RMM”, are proving to be hugely appealing for corporate partners to include within their employee wellbeing benefits package.  In addition to returning a positive ROI, (reduction in absenteeism, increased productivity, reduced insurance costs etc) Revoola helps companies to meet their very challenging Inclusion and Diversity objectives.


Customer Focus

Revoola has an outstanding and experienced management team and Board, is focused on a B2B roll-out strategy. As a result, the Company has secured signed multiyear Letters of Intent with Jones Lang LaSalle (JLL), SpecSavers, MoveGB (a nationwide online platform offering gym and activity passes to circa 23,000+ members), Roko Health Clubs (a nationwide chain of health clubs with circa 15,000 members) and Ocean Blue Software (a global leader in digital TV software). These companies alone give Revoola an estimated recurring revenue in excess of £700k per annum with the potential upside to exceed £1 million per annum.


Additionally, the team is in discussions with a wide range of ‘blue chip’ global organisations, including DHL, PwC, Zurich, Bank of America, Global Radio and Birmingham University. Furthermore, the Company has direct links into Tesco, British Airways, PepsiCo, Avery Dennison, McDonald’s, The FA, and Sport England amongst others.


The Company expects to sign multi-year agreements with the majority of these partners within the first year of funding and if Revoola converted all of its initial pipeline it would generate annualised revenues in excess of £4.0 million. The Company’s technology incorporates proprietary, patentable, sports-science derived functionality and metrics and its revenue model is based on a range of competitively priced subscription revenue streams. These are [conservatively] expected to deliver sustainable gross margins of 90%+ and average annualised operating margins in excess of 40%.


Schools

In addition to our B2B strategy, the company strategy includes creating a formidable pipeline of future consumers via its school’s programme. Access to fully qualified wellbeing and fitness instruction is beyond the reach and financial capability of most schools. Revoola will be provided free of charge to schools for students aged 13-18, increasing their fitness, health and mindfulness. Creating a pipeline of millions of potential future consumers. The company is in discussion with SOCS for providing a Revoola league to the country’s independent schools in addition to plans of rolling out to all state schools region by region.


Services

Core to the company’s Corporate Social Responsibility (CSR) strategy, in addition to providing Revoola free to schools a discounted package will be provided to key public sector services. Including NHS, Military, Fire, Police and Ambulance.


Revoola is targeted at the B2B market, disrupting the global multibillion fitness and broader wellbeing market.


Editor’s Notes:

For more information on Revoola visit: http://www.revoola.com/

For editorial opportunities contact: pr@redheadpr.co.uk or call 0131 357 8977