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Ark Applications and PAR Participate in Peerfit's $10.3M Series B Round

TAMPA, Fla.—January 23, 2018 -Tampa-based wellness company Peerfit continues its explosive growth by securing an additional $10.3 million in funding. The company recently closed its Series B round after receiving commitment from core investors including Jeff Vinik, owner of the Tampa Bay Lightning; Lee Arnold, Executive Chairman and CEO of Colliers International Florida and Colliers International Tampa Bay, Central & Southwest Florida; R. Bob Smith III, Executive Chairman and Founder of Psychological Assessment Resources, Inc. (PAR, Inc.); Daniel Greco II, Managing Director, Ark Applications, LLC; and Marc Blumenthal, General Partner of Florida Funders.

Peerfit utilizes a streamlined flexible platform tailored to the exploding wellness market. Its distinctive model allows enrolled members to customize their wellness experience by purchasing a monthly subscription that can be applied to various classes within their own city or in other markets at the best market rate.

Peerfit has proven to be one of the breakout stars in the Tampa Bay region recently, experiencing 800% growth in its footprint nationwide last year. This not only bodes well for the health and wellness industry but also provides encouragement to startups that seek funding from more traditional sources.

"The national traction our team saw this year is just a glimpse of what 2018 holds,” said Ed Buckley, Co-Founder and CEO. “Fueled by our recent national partnerships, growth capital from our key investors, and product enhancements on the horizon, Tampa Bay and our industry seem to be energized by Peerfit's efforts to redefine wellness."

“We are extremely proud of Peerfit’s accomplishments as the team has scaled the network, identified new market opportunities, and continued to advance the overall company culture. We strongly believe in its business model and commitment to creating a personalized wellness experience for individuals and organizations. We are energized by the possibilities for Peerfit in 2018,” Greco said.

The wellness company has proven to be a tremendous fit for the team at Ark Applications, which reaffirmed its commitment to the Series B round. Peerfit’s founders, Ed Buckley and Scott Peeples, President, have grown Peerfit to a national brand by providing enrollees with an exceptional product and experience. Their program has enabled users to improve their engagement with wellness through a wider selection of activities that they can enjoy through their insurance plans.

“We are excited about continuing to invest and work with Peerfit,” Smith said. “We believe that Ed Buckley and Scott Peeples have created an exceptional team to help Peerfit achieve their many ambitious goals for 2018 and beyond.”

Founded in 2015, Ark Applications, LLC, is a private equity and consulting business based in Tampa, Florida focused on finding meaningful partnerships that will have a lasting impact on their industries and improve quality of life for end-users. Ark has enabled other companies to find growth and success in their business. Visit arkapps.com to learn more about how their team can help your business.

Founded in 1978, PAR is a leading publisher of assessment instruments, software, and other related materials. During the past four decades, PAR has earned a reputation for providing Customers with innovative assessment solutions and unparalleled Customer service. To learn more about PAR’s products, visit parinc.com or call 800.331.8378.