After a few years of success in the Apple product market, Fitiv is preparing to launch its first Android product, which should give the company more flexibility in achieving group sales.
Founded by Moncton entrepreneur Sylvio LeBlanc, the company has developed an iOS app that helps people analyze the biometric data collected by an Apple Watch. The app – originally called MotiFIT – has gained users over the past three years, so the company is now poised to launch an Android product, which uses a Bluetooth heartrate monitor.
LeBlanc said having a product on both major operating systems will help the company sell to fitness clubs and other groups, whose members use both products. Even by focusing just on Apple users, the company has had strong traction.
“We’re onboarding about 600 users a day,” said LeBlanc in an interview in his office. “We’re close to about 700,000 downloads and we have over 70,000 active monthly users.”
The active monthly users are the key metric as they are the ones who pay for the product. The acceptance by paying customers is what has helped the company to grow without ever raising investment.
The story of Fitiv began when LeBlanc, a programmer, wanted a device that would measure the intensity of his workouts. He had recently bought an Apple Watch, so he did what programmers do – he made his own app that would measure the data produced by his watch. He released it on the App store in 2015 and people began to download it.
Realizing this could be a business, LeBlanc enrolled at the Venn Garage at Venn Innovation, the New Brunswick startup support organization based in Moncton. With Venn’s support, he began to grow the business, increasing the functionality of the product and improving sales.
Fitiv now helps people to understand the impacts of their workout, creating personalized data sets for such metrics as daily steps, sleep, calories burned and a range of heart rate data, such as averages, and highs and lows during a workout.
LeBlanc has grown the operation into a five-member team, and Fitiv outgrew the Garage a few months ago and moved into an office in Dieppe, N.B.
LeBlanc doesn’t seem to be in any rush to attract investment, saying that if the company needs money it works on increasing sales. Once it has a stable product on both Android and iOS, the goal will be sales to gyms and health clubs, so every member of a spin class, for instance, could receive and share data on their performance.
The other project LeBlanc is working on is a price hike for the product – the first in several years. The subscription price will go from $10 a year to $2 a month. LeBlanc admits it’s a big jump, but he added that the feedback he gets from customers is that it will be a good deal compared with other health monitoring products.
Overall, LeBlanc is eyeing growth in customers and revenue, and he doesn’t see the numbers slowing down anytime soon.
“So far we’re doubling every year,” he said. “In the next 12 months, I could see us doubling again, but it all depends on the success of what we’re working on now.”