• Founded in 2016, Let’s Do This, has more than 5 million users globally and lists endurance sports events from across the world
• The investment will fund the company’s ongoing US expansion, including the launch of its new Colorado office
• Let’s Do This will also be growing its UK team – recruiting top tech talent to accelerate product development, including inspirational event discovery powered by people’s interests and social connections, immersive content to help people learn about the atmosphere and scenery of events, and race day experiences that make event-going unforgettable
• Funding round led by Craft Ventures and Headline, supported by existing investors EQT, NFX and Y Combinator, and joined by newcomer Morpheus Ventures

LONDON, UK. 7 June 2022: Let’s Do This has announced its $60 million Series B funding round, bringing its mission to ‘inspire people across the world to come together to experience moments that make them feel alive’ into even sharper focus.

Founded in 2016, Let’s Do This is an online platform that makes it easy for people to find, book and prepare for the best running, triathlon, cycling and obstacle experiences around the world.

With more than five million active users, the platform brings thousands of events together in one place, enabling users to easily search and choose their next experience – including top flagship events like Hackney Moves, The Great North Run and the Oxford Half.

This latest fundraise saw Craft Ventures and Headline join as lead investors, supported by further funds from existing investors EQT, NFX and Y Combinator, as well as newcomer Morpheus Ventures. These join the company’s existing angel investors from previous rounds including Serena Williams, Usain Bolt and Paula Radcliffe, and founder of Gmail Paul Buchheit, as well as Ian Hogarth, founder of Songkick. 

Speaking about the raise, Alex Rose, co-founder and COO of Let’s Do This, said:“We are living in a world where we spend more time than ever with our heads buried in our phones. The growing influence of social media and the Metaverse is a depressing extension of this, and the effect on our health and wellbeing cannot be ignored. We want to be the online platform that helps people get offline – so they can live life to the full, doing things that make them happy.

“We have experienced phenomenal growth over the past 12 months – despite our industry taking a major hit during the pandemic. It is a clear sign that people are desperately craving face-to-face events that allow them to connect with others, feel part of a community and participate in something truly special.”

The funding will be used to enhance the website and app experience of searching and booking events. The company will also be building out the social features of the Let’s Do This app, enabling users to follow each other, discover new events based on their network, and share training progress – a major factor in participant motivation. 

Let’s Do This will also be expanding its team with a number of key hires, particularly in engineering, with plans to grow from 85 to 150 employees by the end of the year. The company will also be continuing its US expansion with the addition of a new US HQ in Boulder, Colorado.

Sam Browne, co-founder and CEO of Let’s Do This, added: “The global sports endurance market is worth an estimated $18bn and, with face-to-face events finally a possibility again after a long hiatus, we know this is only set to grow. As a business, not only are we passionate about sports and live events, we know what it takes to make them a true success, which is why so many organisers already trust us to grow their events.

“Excitingly, sport is just the beginning forLet’s Do This too. Thanks to the funding and support from our investors, we plan to extend into further verticals in the live events and experiences space – continuing on our mission to bring people together through momentous experiences.”

Serena Williams, angel investor in Let’s Do This, said: “I love sport and have seen first-hand the positive impact it can have on people’s lives. But, many people are often held back from discovering sport and the benefits it can bring them. Let’s Do This breaks down this barrier by allowing people to discover new ways of keeping fit, encouraging them to push themselves and providing a sense of community and camaraderie in the process, irrespective of fitness levels. This is a mission that I am proud of -bringing more people together through the power of sport.”

Christian Leybold, partner at Headline, said: “There is a distinct camaraderie that group endurance events bring, but most organisers are stuck with low-tech platforms that offer a lacklustre user experience. With Let’s Do This, Alex and Sam have revolutionised how we bring offline experiences online, equipping organisers with the tools they need to increase online visibility, engagement, and registration. The customer growth they’ve seen thus far has been remarkable, and we look forward to seeing how they continue to scale.”

Jeff Fluhr, Co-Founder and General Partner at Craft Ventures, said: “Let’s Do Thishas built an impressive business in the UK by galvanizing a passionate, engaged community of endurance athletes and providing a better way for them to discover and buy tickets for competitive events while also giving race organizers a better mousetrap to promote events and sell tickets. We’re excited to be on this journey with them as they expand into the much larger US market where a modern solution is sorely needed.” 

ENDS

For more information, please contact: [email protected] or visit www.letsdothis.com/ 

NOTES TO EDITORS

ABOUT LET’S DO THIS:

• Let’s Do This is an online platform that makes it easy for people to find, book and prepare for the best running, triathlon, cycling and obstacle experiences around the world
• Founded in 2016 by Alex Rose and Sam Browne, the platform has more than 5 million users globally
• Let’s Do This has promoted and grown almost 100,000 sports endurance events since its inception – including major UK events such as Hackney Moves, The Great North Run and The Oxford Half, and US events including Bay to Breakers, Long Beach Classic Half & 5K and Bay Bridge Half Marathon