How much funding has Pact raised?

Pact has raised $2.4M in total funding, most recently a Series A round.

Who are Pact's investors?

Pact's investors include Khosla Ventures, Techstars.

Where is Pact headquartered?

Pact is headquartered in Mattapan, Massachusetts, United States.

Pact

Closed

Mattapan, United States · Founded 2012 · $2.4M raised

Healthcare

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.