The Raine Group and Insight Venture Partners Will Help the Global Multimedia Company Fill Zumba Classes and Spur Growth Opportunities for Zumba Instructors
Zumba Fitness, the global multimedia fitness leader and creator of the acclaimed Zumba dance-fitness party workout, announced today that The Raine Group and Insight Venture Partners made a minority investment in the company. The strategic partnership will further grow and optimize the company’s digital and media footprint, generating even more mass awareness for the global brand. The partnership will bring new benefits to all members of the Zumba community including class participants, instructors, fitness facilities and the health and fitness industry.
This strategic partnership will allow us to unlock the potential of our brand for years to come, said Alberto Perlman, CEO of Zumba Fitness. As when we founded Zumba, the success of our instructors and their ability to improve the lives of Zumba enthusiasts is what continues to drive us. With Raine’s media and entertainment resources and Insight’s technology and social media expertise, we’re perfectly positioned to make Zumba the premier lifestyle brand.
Since its inception more than ten years ago, Zumba Fitness has proven that it bridges an important gap – a dance fitness workout that is appealing to both casual enthusiasts and active lifestyle consumers looking for a fun and energizing workout.
“What the founders, management team and Zumba instructors throughout the world have accomplished in the last ten years is truly remarkable,” said John Salter, a partner at Raine. The intersection of sports, fitness and lifestyle is a key focus of our firm, and we are extremely excited to have Zumba as partners. We look forward to their continued leadership as we help them to further consolidate their strong position and accelerate their growth into major international markets for many years to come.
“As technology investors, we are extremely impressed by how Zumba’s founders are leveraging media and technology to build value for their community in dance studios, gyms and online,” said Jeff Horing, founder of Insight Venture Partners. “We are excited to be partnering with the Zumba Fitness team, and look forward to leveraging our technology expertise to continue improving the experience for Zumba instructors and participants, as well as assist in Zumba’s growth worldwide.”
In connection with the partnership, Zumba also announced that WME Entertainment, a strategic partner of Raine, will work with the Company to further build the global Zumba brand. “Zumba Fitness is an international phenomenon that has helped improve tens of millions of lives around the world,” said Ari Emanuel, co-CEO of WME Entertainment. “Through this partnership, we will create unprecedented brand awareness and an infectious fusion of entertainment and fitness. I am thrilled to work with a brand that does so much good for so many people and that has such enormous potential.”
The Zumba Fitness lifestyle is rounded out by the company’s many consumer product offerings, including DVD sets, music collections, multi-seasonal apparel and footwear, video games, Fitness-Concert(TM) events and a lifestyle magazine. Following this transaction, current Zumba Fitness leadership will continue to own and control all operations of the Zumba brand. For more information about Zumba Fitness programs and products, or to find a live class, visit zumba.com
About Zumba Fitness, LLC
Zumba Fitness is a global lifestyle brand that fuses fitness, entertainment and culture into an exhilarating dance-party workout. Coined fitness-parties, Zumba classes blend upbeat world rhythms with easy-to-follow choreography, which provide effective, total-body workouts. Founded in 2001, the company is now the largest branded fitness program in the world-reporting more than 12 million weekly class participants, in over 110,000 locations, across more than 125 countries. In addition to its original Zumba program, the company also offers a range of specialty classes, including Zumba Gold (for active older adults), Zumba Toning (body-sculpting class that uses maraca-like Toning Sticks), Aqua Zumba (the ultimate pool party workout), Zumbatomic (Zumba routines for kids), Zumba Sentao(TM) (chair-based Zumba class that strengthens, balances and stabilizes the core) and Zumba in the Circuit (a 30-minute workout that combines signature Zumba moves with circuit training at timed intervals). The Zumba fitness lifestyle is rounded out by the company?s many consumer product offerings, including DVD sets, music collections, multi-seasonal apparel and footwear, video games, Fitness-Concert(TM) events and a lifestyle magazine. For more information about Zumba Fitness programs and products, or to find a live class, visit zumba.com and find us on Facebook and Twitter.
About the Raine Group
The Raine Group is a global merchant bank focused exclusively on entertainment, digital media, and sports & lifestyle. Founded in 2009 by Joseph Ravitch and Jeffrey Sine, in partnership with WME Entertainment, Raine has offices in New York, Los Angeles, Palo Alto and Beijing. With a global reach, Raine focuses on growth equity investments where its deep industry experience and unique network of strategic relationships, limited partners and advisory board members can create value for portfolio companies. For more information, visit: www.raine.com .
About Insight Venture Partners
Insight Venture Partners is a leading private equity and venture capital firm focused on the global software, Internet and data-services industries. Founded in 1995, Insight has raised more than $5 billion and made more than 150 investments. Insight has a successful two-team structure: its investment team evaluates thousands of companies globally each year; its Insight Onsite team of consultants works with growth-stage management to provide resources and advice to allow them to achieve long-term success. For more information, visit: www.insightpartners.com .
Zumba Fitness legal advisor for this transaction was a team led by Daniel Ganitsky of Proskauer Rose. The Raine Group and Insight Venture Partners were advised by a legal team led by Ilan Nissan of Dewey & LeBoeuf.