Home services provider, Housejoy has acquired Orobind, an 'at-home' personal fitness tech startup at an undisclosed amount. This move helps Housejoy further strengthen its fitness offering and offer a highly differentiated experience to its customers. Housejoy had recently closed a 23 million funding round led by Amazon.
Orobind was founded by Satya Vyas and Shubhanshu Srivastava in December 2014.
As a part of the deal, HouseJoy has acquired the trainers of Orobind, the customers base and the technology. The entire Orobind team will also be moving to Housejoy.
Talking about the acquisition, Saran Chatterjee, CEO, Housejoy said, "The acquisition is a part of our strategy to become leaders in this categories with high repeat order rates. With this acquisition we are looking to create a differentiated lifestyle experience for our customers across beauty, fitness and wellness categories. We feel that by leveraging Orobind's customers set, underlying technology and the domain expertise, Housejoy can expedite the process of becoming the leader in the Wellness category. Orobind has been ahead of almost everyone in this category in terms of numbers and tech reliability and most importantly has a team that understands the category the most."
Vyas said, "Being entrepreneurs, it is a proud moment for us that we built a tech company from scratch and took it to a level where a larger and reputed player like Housejoy can come and find value in it. Fitness and wellness is a highly lucrative category for most of the home services players primarily because of high repeat rates and high customer lifetime value but to leverage it one must have a highly differentiated product experience and a tech enabled engagement platform. The transaction is a win-win for both the parties. For Orobind it gives us an opportunity to be a part of a larger 'at- home' services play and build a very large wellness category. For HouseJoy it gives them the depth it requires to be the largest player in the overall wellness category.”