Raleigh-based fitness and nutrition programs company RivalHealth has raised $3 million to enhance its product offerings and expand its sales force.
Fulcrum Equity Partners led the round of investment in the Raleigh company, with participation from WRD Capital and other unnamed investors. Scale Finance has provided part-time Controller Services to RivalHealth for over a year.
RivalHealth offers preventative health programs to corporations, schools and organizations. The company’s main offering is Rival Fusion, a subscription service available over the web and on DVD that emphasizes weight management and fitness through exercise and nutrition. RivalHealth employs a patent-pending measuring system that works without daily journaling or activity-based tracking.
RivalHealth was founded in 2010. The company’s customers include BB&T, Twinings of London, Park Ridge Health, First Citizens Bank and Washington Local Schools of Toledo, Ohio. The company also has a strong partnership with Blue Cross Blue Shield of North Carolina to offer its customized fitness and nutrition programs to Blue clients.
“With this new capital infusion, we’re positioned to aggressively expand on our strong, initial customer footprint,” RivalHealth founder and CEO Pete Durand said in a statement. “Additionally, it will allow us to create more content and enhance both our mobile and social product offerings to have a more complete solution for our customers.”
SF Managing Director Dave Gilroy was an investor in Integrian, Inc., a company led by Pete Durand prior to his founding RivalHealth.
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Scale Finance LLC (www.scalefinance.com) provides contract CFO services, Controller solutions, and support in raising capital, or executing M&A transactions, to entrepreneurial companies. The firm specializes in cost-effective financial reporting, budgeting & forecasting, implementing controls, complex modeling, business valuations, and other financial management, and provides strategic help for companies raising growth capital or considering M&A/recapitalization opportunities. Most of the firm’s clients are growing technology, healthcare, business services, consumer, and industrial companies at various stages of development from start-up to tens of millions in annual revenue. Scale Finance LLC has offices throughout the southeast including Charlotte, Raleigh/Durham, Greensboro, Wilmington, Washington D.C. and South Florida with a team of more than 40 professionals serving more than 100 companies throughout the region.