Pact
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Mattapan, United States · Founded 2012 · $2.4M raised
- Headquarters
- Mattapan, Massachusetts
- Founded
- 2012
- Business Model
- B2C
- Website
- pactapp.com
- Total Funding
- $2.4M
- Last Round
- $1.5M Series AJan 2014
- Rounds
- 2
About
Pact (originally GymPact) was a Boston-based behavioral-economics fitness app founded by Harvard graduates Yifan Zhang and Geoff Oberhofer, built around loss-aversion psychology: users committed to a weekly number of gym visits or workouts and set a self-chosen fine, forfeited if they skipped, with the pooled fines split among members who showed up. GPS-verified gym check-ins later expanded to motion-sensor home workouts, RunKeeper-tracked runs, and photo-verified diet 'veggie pacts.' At its peak the app had over 3 million members and paid out $5 million to users who kept their commitments, before shutting down in July 2017 following an FTC settlement over unpaid rewards.
Summary
Pact is a Healthcare company based in Mattapan, United States, founded in 2012. It has raised $2.4M in total across 2 rounds, most recently a $1.5M Series A round in Jan 2014. Investors include Khosla Ventures and Techstars.
Tech & App Stack
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Funding History
Jan 2014
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Seed through Series A — per-round amounts, valuations, and who invested in each round.
Investors
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