SA gym management software startup Octiv raised 7 figure Series A funding
Octiv, a South African company that develops gym management software, has secured a seven-figure US dollar Series A investment round from a local venture capital firm called Knife Capital to hasten its international growth.
Octiv, formerly known as BoxChamp and founded by Mark Fawzy in Cape Town in 2014, offers fitness studios and gyms the appropriate software for managing a successful fitness business. The platform of the firm gives gym members a unique digital experience while also personalizing their experience.
The startup had previously raised seed money from well-known South African angel investors, and it has now closed a seven-figure Series A round led by Knife, a venture capital firm that uses knowledge, networks, and funding to hasten the international expansion of African innovation-driven businesses.
Additionally, a BVNK executive made an angel investment in it.
Octiv will be able to increase customer service levels to keep up with accelerated growth, make new product innovations, and accelerate its worldwide development push thanks to this financing.
“A primary vision of Octiv is handing brick-and-mortar gyms and fitness studios a digital arm to run a seamless and more profitable business. We offer their members the ultimate personalised fitness experience,” Fawzy said.
The South African boundaries have been effectively crossed by Octiv, obtaining clients in over 27 countries, primarily in Europe. finance for growth.
“In the current economic climate, capital efficiency is key. We admire how Mark and his team have built Octiv into a lean global recurring revenue SaaS business with very little outside capital,” said Keet van Zyl, Knife Capital’s founding partner. “We identified the potential in Octiv and its ever-striving objective of becoming a world-class leader in fitness software product development while being able to humanise the software to ensure that it remains client-centric.”
With this financing, Octiv’s growth will be hastened even further. The firm will be able to expand its sales staff and add new gyms while upgrading its product team for more innovation. The presence of Knife Capital in the UK will also aid in quickening Octiv’s plan to expand across Europe.
