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Gyminee Raises 525K and Relaunches as DailyBurn
Date:5/27/2009

HUNTSVILLE, Ala., May 27 /PRNewswire/ -- Leading fitness social network and tracking application Gyminee today announced that it will be changing its name to DailyBurn, effective immediately.

In just over 18 months, the company has built an active fitness community of more than 125,000 members, who have, depending on goals, lost an average of 6.2 lbs of fat or gained an average of 5.75 lbs of muscle using DailyBurn's tools and tracking.

DailyBurn, a 2008 TechStars alumni (then known as Gyminee), is also announcing that it recently closed a seed funding round of $525K from FF Angel LLC and a well known group of angel investors including StumbleUpon's Garrett Camp, author Tim Ferriss and other unnamed sources. The funding is being used to bring on additional developers and to expand its sales and marketing efforts.

"The future of fitness is self-tracking with little or no data entry, and this is an area worth betting on. DailyBurn is poised to provide the world's best diet and exercise tracking tools," says Tim Ferriss, author of The 4-Hour Workweek and angel investor in other tracking companies such as RescueTime.

The name change coincides with a site design overhaul aimed at optimizing the online user experience and paving the way for growth. "We are very pleased with the redesign. It emphasizes our commitment to create a user-friendly site that is intuitive but still relentlessly focused on getting our users better results," says Andy Smith, CEO and co-founder.

DailyBurn Challenges, launched last summer and designed as an accountability tool, has been met with tremendous enthusiasm. Users and organizations can create custom fitness challenges or join one of the thousands of challenges created by other members. "It's just a fun and engaging tool for people to set specific goals and stay motivated," says Derek Wisem
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SOURCE DailyBurn
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