Deals
NEOU, ‘Netflix of Fitness,’ Raises Funds From Investing Titans
- Backers include Mike Arougheti, CEO of Ares Management
- Startup plans to raise up to $50 million later this year
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Some Wall Street titans are betting the at-home fitness boom will far outlast quarantine life.
NEOU, a startup that describes itself as the “Netflix of fitness,” raised $5 million in fresh capital from investors including Ares Management Corp. Chief Executive Officer Mike Arougheti and David Flannery, a former GSO senior managing director. The round valued the company at about $40 million, CEO Nathan Forster said in an interview.