![[South Africa] Gym management software Octiv secures funding from Knife Capital](Images/Key Logos/Octiv.png)
[South Africa] Gym management software Octiv secures funding from Knife Capital
South African gym management platform Octiv has closed an eight-figure Series A funding round from venture capital firm Knife Capital.
The platform started as a workout tracking app for CrossFit gyms in South Africa. According to a statement from the company, Mark Fawzy, CEO & Founder, formulated this idea when his paperback fitness logbook succumbed to a wet towel in his gym bag. Since then, the firm has grown into an all-in-one gym management platform that includes everything a gym or fitness studio needs to manage its business.
Octiv software enables member management and billing, payment gateway integrations, scheduling, various programmes, lead management, task management, payroll, reporting and website integrations. The startup has breached South African borders, securing clients in over 27 countries, predominantly in Europe.
‘’Mark’s deep passion for entrepreneurship, fitness, and technology was the recipe that ignited this innovative tech startup. ‘’ the company says.
Octiv says it will use the funding to continue its growth plan on an international level. It will also allow the firm to innovate more on the Octiv product to hand its clients (and theirs) an exceptional cutting-edge experience as well as continue to elevate & prioritise its customer-centric reputation to humanise our software even further.
“A primary vision of Octiv is handing brick-and-mortar gyms and fitness studios a digital arm to run a seamless and more profitable business. We offer their members the ultimate personalised fitness experience,” says Mark
The startup has previously raised seed capital from prominent South African angel investors and this round also included an angel investment from an executive at BVNK.
“In the current economic climate, capital efficiency is key. We admire how Mark and his team have built Octiv into a lean global recurring revenue SaaS business with very little outside capital,” says Keet van Zyl, Knife Capital founding partner. “We identified the potential in Octiv and its ever-striving objective of becoming a world-class leader in fitness software product development while being able to humanise the software to ensure that it remains client-centric”.
