JoyRun raises US$18m in Round B fundraising

Guangzhou JoyRun Information Technology Co. Ltd. announced yesterday (November 1st) that the company has completed Round B of its fundraising, raising US$18m from Arena Capital.

The money will be used to help the company develop innovative products and engage more with runners, according to Liang Feng, CEO of JoyRun. In addition, JoyRun will also focus on commercialisation around running teams,to include alliances with team leaders, the establishment of running teams, training services and events organising.

As Liang revealed, JoyRun has either played a role in, or organized, 10 marathon events in 2015.

Based on an online-to-offline model, JoyRun unveiled a mobile APP last year that has now attracted around 15 million users. To date, over 9,000 running teams have registered on the APP.

JoyRun, founded in February 2014, is a Guangzhou-based sports company providing services to runners.

Arena Capital is a sports-related fund co-founded by leading Chinese sportswear provider K-bird and Hupu Sports.

Source: CYZone

Proofread by John Devlin.