CITYROW®

Bolsters Advisory Board with Executives from Drybar, Focus Brands, iHeartMedia and Nike.

NEW YORK — CITYROW (the Company), a leading omnichannel fitness brand offering rowing classes through its combined at-home digital platform and nationwide brick-and-mortar studio network, announced today the expansion of its Director and Advisory Boards. Sharon Fox will join the Company’s board of directors and Kat Cole (formerly Focus Brands), Michele Laven (iHeartMedia), Michael Landau (Drybar) and Danny Tawiah (formerly Nike) have joined its advisory board.

“Sharon is credited with building highly-recognized consumer brands and we feel incredibly fortunate that she has agreed to apply her knowledge and expertise to CITYROW as we continue to expand our operational footprint across our omnichannel network — including our in-person studios and digital fitness platform,” said CITYROW CEO and Founder, Helaine Knapp. “As a female founded business, it is important that we surround ourselves with experienced and strong female leaders like Sharon.”

Sharon Fox joins CITYROW on the heels of the Company’s successful completion of a $12 million Series A round. A proponent of female leaders on corporate boards, Fox has also served on the boards of aden + anais, Schleich and Criteo.

Sharon brings 25+ years of business experience to this appointment. She is currently a Growth Operating Partner at Stride Consumer Partners where she has worked across the portfolio to support founders and their talented teams as they drive toward their brand building ambitions. She also served as the CMO of two mission-driven brands, Freshly and Melissa & Doug. In addition, Fox worked at Amazon, leading the post acquisition integration of the Quidsi sites, including Diapers.com and Soap.com. She began her career in brand management at Kraft Foods and also subsequently worked at Unilever. Fox earned a B.S. in Industrial Operations Engineering from the University of Michigan and an MBA from Harvard Business School.

“Helaine and her team have established an incredible brand, passionate community and omnichannel fitness offering,” said Fox. “I look forward to helping the CITYROW team strengthen and expand their brand awareness, reach and presence. CITYROW has a tremendous opportunity to become one of the de facto leaders in both the explosive rowing and overall digital fitness category. CITYROW’s extensive offering of diverse fitness content underscores their core mission to make a total body high intensity exercise routine that is low impact, results driven and sustainable.”

CITYROW also adds a diverse group of seasoned business professionals to its Advisory Board.

• Kat Cole, former COO and President of FOCUS Brands, as well as Board Member of several companies including Human Co, Slice and Milk Bar.
• Michele Laven, Chief Human Resources Officer and Chief Diversity Officer at iHeartMedia.
• Michael Landau, Co-founder and Executive Chairman of the Board of Directors at Drybar.
• Danny Tawiah has held senior executive global leadership roles, including Nike Global VP of Digital Brand & Innovation. He is currently Managing Director of Mandalah US West Coast.

“I believe that the future of fitness is omnichannel, and CITYROW is one of the few companies that has the right team and strategy in place to bring this model to the masses,” said Cole. “Having built global omnichannel franchises throughout my career, I am excited to bring my experience and work with Helaine and her team to expand CITYROW’s presence across the nation.”

A pioneer in smart and omnichannel fitness, CITYROW now boasts more than 4,000 monthly subscribers who have access to a vast library of more than 700 on-demand classes. The Company has sold 65 franchises (11 built and operational) throughout the United States, and expects to open a combined twelve additional company-owned and franchise studios in the next 12 months.

Today, fitness-minded consumers seeking a high intensity, low-impact, results-focused workout visit locations in New York City, Los Angeles, San Diego, Atlanta, Boca Raton and Dallas. More than 10% of in-person CITYROW class participants use the CITYROW GO Rower at home, highlighting the growing trend of omnichannel fitness consumption as consumers seek to take advantage of the convenience of on-demand home workouts, combined with the heightened experience and community that can only be delivered in-person.

–Financing Round Led by JW Asset Management; Company Adds JW CFO Jason Klarreich and Fyllo CEO Chad Bronstein to Board of Directors–
–Funds to be Used to Enhance Platform and Launch Live Streaming Fitness Classes–

NEW YORK — CITYROW (the Company), a leading omnichannel fitness brand offering rowing classes through its combined at-home digital platform and nationwide brick-and-mortar studio network, announced today the closing of a $12 million Series A Round. The financing round was led by JW Asset Management and also included Sol Global and K2. JW Asset Management CFO Jason Klarreich and Fyllo Founder and CEO Chad Bronstein have joined the Company’s Board of Directors. Proceeds from the raise will be used to enhance the Company’s at-home digital platform, launch live-streaming classes and expand its company-owned and franchise studio model.

Since opening its first brick-and-mortar studio in 2014 and launching its digital platform in 2018, CITYROW has experienced tremendous growth, which is largely attributable to sales of rowing machines, monthly subscriptions of its connected at-home rowing platform and franchise sales. Over the last 12 months, the Company has experienced 375% revenue growth.

A pioneer in smart and omnichannel fitness, CITYROW now boasts more than 4,000 monthly subscribers who have access to a vast library of more than 700 on-demand classes. The Company has sold 65 franchises (11 built and operational) throughout the United States, and expects to open a combined twelve additional company-owned and franchise studios in the next 12 months.

“CITYROW has all the elements in place to bring our scalable, omnichannel fitness model to the masses. Our hybrid offering empowers anyone, anywhere — at-home or in-studio — access to the CITYROW experience. We have built an unbelievable technology platform, fitness team and a strong board, including proven business leaders like Jason and Chad. Each of our valued board members and advisors is committed to supporting our future capital raising efforts, as well as providing operational guidance and helping shape our vision for the future,” said Helaine Knapp, Founder and Chief Executive Officer of CITYROW.

Knapp continued, “With access to additional capital, CITYROW will launch live-streaming, expand the number and types of classes offered, and continue to strengthen our proprietary performance tracking and measurement platform. Other important initiatives include bolstering our operations, building a more seamless integration between the in-studio and at-home experience and expanding our studio footprint to provide an incomparable experience to the thousands of individuals who rely on CITYROW to drive their fitness regimen.”

“CITYROW’s unbelievable 97% customer retention rate validates the strong and sticky business Helaine and her team have built over the last 7 years,”  said Jason Klarreich. “The Company’s diversified product offering, combining the positive attributes of both on-demand and in-person fitness, has created a loyal and growing community of users across the country. We are confident that under Helaine’s leadership, CITYROW will continue to establish itself as a world class brand and overall business model.”

Today, fitness-minded consumers seeking a high intensity, low-impact, results-focused workout visit locations in New York City , Los Angeles, San Diego, Atlanta, Boca Raton and Dallas. More than 10% of in-person CITYROW class participants use the CITYROW GO Rower at home, highlighting the growing trend of omnichannel fitness consumption as consumers seek to take advantage of the convenience of on-demand home workouts, combined with the heightened experience and community that can only be delivered in-person.

Chad Bronstein added, “Once I experienced CITYROW, I was hooked.  I knew this was a company and management team I needed to get behind.  Helaine has proven to be an incredibly strong leader that has evolved the business from solely an in-person studio offering, to a national, omnichannel tech brand. She has a clear vision for the future and the motivation and ability to execute.”