Cambridge, MA (October 23rd, 2018) – VirZOOM, Inc, a Cambridge-based leading virtual reality fitness, gaming, and sports company, is happy to announce that it has engaged Shiboomi Capital, a Boston-based investment bank, to lead its upcoming $7M institutional capital raise.
VirZOOM is ushering in the next generation of virtual reality sports and fitness, creating a new category of sports and entertainment in the virtual world.
With VirZOOM’s VZFit platform, any stationary bike can become an active portal into VirZOOM’s virtual worlds in 5 minutes. Through VirZOOM’s technology and platform, the company is making virtual fitness and VR esports competitions convenient, easily accessible, and available to the global marketplace. The company launched its first VirZOOM vSport Tournament at the at 2017 Consumer Electronics Show, in partnership with Intel, LifeFitness, and Fitbit. The company’s first Global vSports Event is currently taking place within VirZOOM’s VR platform with sites participating across five countries.
Shiboomi Capital is a strong strategic fit for VirZOOM. Shiboomi Capital’s Managing Director, Gary Woolf, was formerly the CEO of Bob Woolf Associates. Bob Woolf Associates was one of the world’s leading sports & entertainment representation and marketing firms of its time, representing over 1500 professional athletes in the 4 major sports, Indy, Nascar, Olympic athletes, golf, etc as well as entertainers, TV and radio personalities, and musical acts. During his tenure at Bob Woolf Associates, Mr. Woolf was involved in the creation of new sports leagues and programs. Mr. Woolf is excited to take his background and industry experience to assist VirZOOM’s efforts in revolutionizing the sports and entertainment sector through virtual reality sporting events, gaming, and fitness.
VirZOOM, Inc started selling its initial VZ Arcade fitness games in June 2016 and by the fall of 2017 announced an expansion into the commercial gym market worldwide in a partnership with LifeFitness, the world’s largest commercial fitness equipment maker. VirZOOM’s third generation VZFit product launched in August 2018, paving the way for scaled expansion into neighborhood gyms, YMCAs, hotel fitness centers, university athletic facilities, corporate fitness centers, and other fitness center locations. VZfit enables any place in the world where there is a stationary bike and WiFi to become a portal into the virtual VirZOOM platform, ushering in the next generation of virtual sports competition and fitness. VirZOOM recently executed an updated commercial agreement with Life Fitness to bring VZfit to 20k+ health clubs and commercial fitness centers worldwide.
About Shiboomi Capital
Shiboomi LLC is an international strategy consulting, business development, & corporate development consulting firm that was founded in 2003. Shiboomi's investment banking arm, Shiboomi Capital, is a boutique investment bank that provides sell-side investment banking services to private growth companies at critical stages of development as well as buy-side investment banking services to both US & international buy-side clients. Shiboomi Capital focuses on corporate finance, capital-raising, M&A, joint ventures, and strategic financial advisory services. Shiboomi Capital’s Investment Banking Services & Securities are offered through Independent Investment Bankers Corp., a broker-dealer, Member of FINRA/SIPC. Certain individual investment bankers associated with Shiboomi Capital are registered representatives of Independent Investment Bankers Corp. Shiboomi Capital is not affiliated with Independent Bankers Corp.
# # #
Co-Founder & CEO, VirZOOM
Privacy: We won’t share your data, or post to your wall, without your permission.
Already have a Wefunder account? Login
Don't have a Wefunder account? Signup