AlleyWatch caught up with CEO and founder Brynn Putnam to learn more about MIRROR’s latest funding, partnerships, and future growth plans to revolutionize in-home fitness workouts and beyond.
Who were your investors and how much did you raise?
MIRROR has secured $34 million in Series B-1 financing led by Point72 Ventures. Other participants in the round include lululemon athletica; supermodel, entrepreneur and philanthropist Karlie Kloss; Kevin Huvane, founder of Creative Artists Agency; Steve Lockshin, accomplished angel investor; seasoned media investors, LionTree, as well as return investors, Spark Capital, and Lerer Hippeau. This brings MIRROR’s funding to date to $72 million. Along with this investment, Point72 chairman and chief executive officer Steven Cohen will join MIRROR’s board of directors.
Tell us about the product or service that MIRROR offers.
The Mirror is a nearly invisible, interactive home gym that streams live and on-demand fitness classes in a variety of workout genres, led by the top instructors in NYC. Content is curated based on an individual’s goals or mood, then further personalized in real-time through a combination of user feedback and biometric data.
How has the business changed since we last spoke in the fall of 2018?
Since launching in late 2018, MIRROR has been on a rapid uptick. There are now Mirrors in homes in every state within the continental U.S.
Recently, MIRROR announced the launch of Personal Training. For the first time, members will be able to bring the country’s top trainers into their homes through MIRROR’s immersive technology. Using MIRROR’s two-way audio and video, members will have an experience that is analogous to having a personal trainer in their home. And yet, with MIRROR, the personal trainer is available on-demand, at home and at a fraction of the cost. Just as in the gym, MIRROR’s elite fitness professionals deliver expert feedback, form corrections, and encouragement in real-time. MIRROR Personal Training is available for $40 per session for MIRROR Members, and additional household participants are encouraged to join at no additional cost.
Also in 2019, MIRROR dramatically expanded its content offerings with new class genres, like Kickboxing and Dance Cardio, emphasizing its ability to rapidly respond to consumer demand. MIRROR also announced a benchmark partnership with Tracy Anderson, the fitness pioneer and founder/creator of the Tracy Anderson Method. This gives members exclusive access to original, on-demand Tracy Anderson Method workouts taught by Tracy herself. This innovation allowed members to experience first-class workouts from highly sought-after trainers.
The company will soon expand its retail store fleet, adding locations at Westfield Century City in Los Angeles and Stanford Shopping Center in Stanford, California to its existing location in the Flatiron District in New York City.
Additionally, lululemon x MIRROR are pleased to announce they will be launching exclusive lululemon ambassador content in the coming months. The first new experience will be limited edition lululemon x MIRROR classes focused on meditation.
Where do you see the company going now over the near term?
MIRROR is the only media company with both a dedicated channel into the home as well as our own original content. For us, Mirror is our flagship product and we grow by adding new and exciting types of content onto our platform. So in the not-so-distant future, you’ll be able to use your Mirror to meditate and then look for other non-fitness verticals launching soon.
MIRROR is the only media company with both a dedicated channel into the home as well as our own original content. For us, Mirror is our flagship product and we grow by adding new and exciting types of content onto our platform. So in the not-so-distant future, you’ll be able to use your Mirror to meditate and then look for other non-fitness verticals launching soon.
What are the milestones you plan to achieve in the next six months?
We are launching our Personal Training feature with a small team of 10-12 MIRROR Personal Trainers who will host sessions from a production studio at MIRROR’s HQ, but in the near future our plan is to have a national network of trainers who can host sessions with Members from their own homes.
Lastly, we’re gearing up to launch our Android app on November 13 to bring the MIRROR experience to even more people nationwide.