FightCamp raises $111 million in celebrity-filled round

Khalil Zahar’s FightCamp, an interactive at-home training system for boxing and kickboxing, has attracted a myriad of well-known investors.

On Friday the CEO of the Montreal-born tech company announced it closed a $111 million (US $90 million) round from the likes of Mike Tyson, Floyd Mayweather, George St-Pierre, Francis Ngannou and Canadian entrepreneurs Mitch Garber and Anne-Marie Boucher.

The round was led by New Enterprise Associates (NEA) and Connect Ventures, which is an investment partnership between entertainment and sports agency Creative Artists Agency (CAA) and NEA.

Montreal’s BCF Ventures, headed up by Sergio Escobar, also participated in the round. BCF invested in FightCamp’s pre seed round using convertible notes, then its seed equity round, its Series A and now their Series B round.

FightCamp will use the cash to expand to Android, launch internationally and increase its interactive content for users.

FightCamp’s system uses smart boxing gloves and a punching bag along with core and aerobic fitness movements to give users a full-body workout. Sensors in the gloves track your workout, punches, and intensity.

Zahar is a Tunisian-born entrepreneur who moved to Quebec City at a young age. In 2015, Zahar joined the Montreal chapter of the Founder Institute, managed by Escobar.

Patrick Chandler, who later became chief data scientist, quit McGill University one semester before graduating so he could start working full-time on FightCamp. Chandler contributed to the development of the algorithms for the motion tracking sensor.

After Founder Institute, FightCamp went on to join Y Combinator, but the company was required to reincorporate into a US company, via a Deleware incorporation. At that point the company relocated to California permanently.

Mitch Garber, a serial Canadian entrepreneur with roots from Montreal and the ex-CEO of Caesars Entertainment, introduced FightCamp to UFC Hall of Famer, Georges St-Pierre, another Montrealer who invested in this round.

Montreal’s next tech unicorn?

“Extremely happy to see diverse Montreal founders becoming soon-to-be unicorns. The grit and all-in attitude from immigrant founders like Khalil Zahar from FightCamp gives them an unparalleled advantage that few can beat,” said Escobar.

Escobar says while the company isn’t under “unicorn status” just yet, he believes they’ll surpass $1 billion in valuation next year.

Thus far, the company has raised US $98.5 million over seven different funding rounds. FightCamp’s $8 million series A round came one year ago, in July 2020.

Usher Raymond is also one of the company’s celebrity investors.

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