Bold Raises Seed Funding for Startup’s Wellness Service Designed for the Elderly

By Thomas Price Sunday, February 14, 2021

The COVID-19 pandemic has forced many individuals to change their fitness and health routines considering in-person gyms have been operating at limited capacity or completely closed in many locations. This limited access to gyms has given rise to several companies and business models built specifically for virtual fitness platforms, allowing for consumers to stay fit and healthy while also staying home. The elderly’s elevated risk of viral fatality has led to the creation of Bold, an online health and wellness service. The startup recently finalized its seed funding round, helping the company expand its business to a new level and hopefully create a healthier population of older individuals.

An elderly woman exercising on a yoga mat.

Bold’s Wellness Service and Effectiveness

Bold is a health startup that has created and launched a fitness and wellness service designed specifically for the elderly. The main goals of the business are to reduce chronic health issues and risk of major injuries among users by offering virtual classes personalized to their current fitness and mobility levels. The workouts and classes are tailored to each person by offering assessments and quizzes to better profile the user’s capabilities.

After the initial personalization quiz, the startup has three assessments built to test the user’s mobility, balance, and strength. Once these steps are completed, the company provides weekly guided workout programs along with specific features such as text support from one of their staffed coaches and tools built into the service in order to track progress.

While the actual effectiveness of the company’s specific classes has not yet been proven, the science of maintaining fitness into old age is incredibly sound. In combination with user reviews, it appears that the business has shown itself to be popular already.

Bold’s Seed Funding and Future Plans

In Bold’s seed funding round, the startup raised a strong $7 million. The funding round was led by Julie Yoo, most known for her connections to Silicon Valley-based venture capital firm, Andreessen Horowitz. The business plans to expand its service even further, having partnered with Medicare Advantage companies and other providers to allow individuals to use the service for free. The main reason for the startup partnering with the healthcare industry comes from the possible reduced costs associated with users who actively workout through the service.

Business is moving in the right direction for Bold as the company has continued to take proactive steps alongside their raised capital, which should help them achieve expansion and growth. The business partnerships with the healthcare industry are a positive indicator that the company can easily become one of the most used options for this segment of the population. With both funding and partnerships, the startup will hopefully see even more new business in 2021.

About the Author

Headshot for author Thomas Price

Tom Price is a writer focusing on Entertainment and Sports Features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.

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